Bloomberg Societe Generale SA is planning to cut about 80 positions in London as the lender scales back a business that provides securities services to asset managers, banks and brokers. About half the positions are being cut at SocGen securities services unit, known as SGSS, in the UK capital, according to people with knowledge of the matter. The remainder mostly ...

Bloomberg DBS Holdings Group Ltd. cut Chief Executive Officer (CEO) Piyush Gupta’s total 2020 compensation by 24% after Singapore’s largest lender posted its first annual drop in profit for four years. The bank slashed Gupta’s bonus by 27%, resulting in a 24% decline in his overall compensation to S$9.2 million ($6.8 million) for the 2020 performance year, down from S$12.1 ...

Bloomberg UBS Group AG expects the coronavirus pandemic to further boost consolidation in the banking sector amid increasing threats from low interest rates and intensified competition. “There are likely to be more mergers and acquisitions in the US and especially the European Union, with growing regulatory appetite,” UBS said in its annual report. Switzerland’s biggest bank also said it sees ...