Bloomberg ING Groep NV agreed to pay 775 million euros ($900 million) to settle an investigation by the Dutch prosecutor into issues including money laundering and corrupt practices in one of the biggest fines ever given to the country’s banks in a criminal case. The lender acknowledged “serious shortcomings” in executing customer due diligence policies to prevent financial crime at ...

Bloomberg Lloyds Banking Group Plc is planning to reorganise its commercial bank and eliminate some senior management positions to cut costs at one of its biggest divisions, people with knowledge of the company’s plans said. David Oldfield, a veteran at the bank and head of the commercial unit since last year, is leading the push to simplify the structure and ...

Bloomberg The chief executive officer of Banco de Sabadell SA’s British unit is leaving as the lender continues to struggle with the meltdown of its IT system earlier this year. Paul Pester will step down after seven years with the UK arm, known as TSB Banking Group. Richard Meddings, the current non-executive chairman of TSB, temporarily takes on an executive ...