Bloomberg Westpac Banking Corp agreed to pay A$113 million ($80.6 million) in penalties after the Australian regulator alleged the lender had widespread compliance failures that included charging dead people. The case includes a claim that Westpac charged more than A$10 million ($7.01 million) in fees for financial advice to over 11,000 deceased customers over a 10-year period, according to a ...

Bloomberg UniCredit SpA’s German operations are set to take about half group’s planned job cuts as the firm seeks to boost profitability at the underperforming unit. Chief Executive Officer Andrea Orcel plans to eliminate about 1,500 positions at subsidiary HVB as part of his new strategy that’s slated to be unveiled next week, people familiar with the matter said. Those ...

Bloomberg UBS Group AG’s London headquarters will be bought by Korea’s National Pension Service (NPS) and LaSalle Investment Management for about 1.25 billion pounds ($1.7 billion). The silver building’s current owners Hong Kong-based CK Asset Holdings Ltd started initial discussions with a handful of potential buyers earlier this year, Bloomberg reported at the time. NPS, working with LaSalle, was the ...