Category: Financial Services

Financial Services, Industries

Zurich Insurance to exit Russian market, sell business to local team

May 20, 2022


Zurich Insurance has agreed to sell its Russian business to members of the local team, it said on Friday, as the Swiss insurer became the latest company to announce its exit from the Russian market. A slew of companies — […]

Financial Services, Industries, News

US, banks unveil plan to ease food crisis from Russia’s war

May 18, 2022

Via: ABC News

The U.S., several global development banks and other groups unveiled a multi-billion dollar plan Wednesday meant to address a worldwide food security crisis exacerbated by Russia’s war in Ukraine. The Treasury Department announced that several global development banks are “working […]

Financial Services, Industries

HSBC’s top shareholder calls for banking giant’s break-up – source

April 30, 2022


HSBC Holdings’ largest shareholder, Chinese insurance giant Ping An, has called for a break-up of the London-based bank, a source familiar with the matter said on Friday. Ping An has set out its plan to split the company to HSBC’s […]

Financial Services, Industries

Goldman chases stake in £700m financial advice platform Nucleus

March 11, 2022

Via: Sky News

Sky News understands that one of Goldman’s private equity funds is among four suitors for a stake in Nucleus that will value the business at about £700m. City sources said on Friday that the other bidders were Centerbridge Partners, GTCR […]

Financial Services, Industries

US Virginia Senate allows state banks to offer crypto custody services

March 7, 2022


The Senate of Virginia in the United States unanimously approved a bill amendment request that now allows traditional banks operating in the Commonwealth of Virginia to provide virtual currency custody services. Delegate Christopher T. Head introduced the bill, House Bill […]

Financial Services, Industries

2 China-based development banks have opted to suspend business with Russia

March 4, 2022

Via: Markets Insider

Two China-based development banks have paused relations with Russia and Belarus as it continues to wage war against Ukraine, the Financial Times reported Thursday. According to the report, the decision of the Beijing-based Asian Infrastructure Investment Bank to pause investments […]

Financial Services, Industries

EU to restrict 7 Russian banks from Swift

March 2, 2022

Via: Payments Dive

European Union representatives agreed to remove seven Russian banks from the Society for Worldwide Interbank Financial Telecommunication (Swift), the Belgium-based global financial messaging service, Bloomberg reported Tuesday, citing anonymous sources. The banks are VTB Bank, Bank Otkritie, Novikombank, Sovcombank, Promsvyazbank, […]

Financial Services, Industries

Goldman Sachs seeks return of bonuses from bankers for jumping ship – Bloomberg News

February 23, 2022


Goldman Sachs Group Inc is exploring measures such as seizing vested pay to dissuade top bankers from leaving, Bloomberg News reported on Wednesday, citing people familiar with the matter. The bank is looking at confiscating vested stock – usually reserved […]

Finance Tech, Financial Services, Industries, Trading

Sberbank, VTB shares rebound as Russia’s top banks escape UK sanctions

February 22, 2022


Shares in Russia’s two largest lenders, Sberbank and VTB, reversed early losses to trade higher on Tuesday after the state-controlled groups escaped British sanctions on Russian banks. British sanctions targeted Bank Rossiya, Black Sea Bank, Genbank, IS Bank and Promsvyazbank […]

Financial Services, Industries

Prepare for an Unsettling Monetary Tightening Cycle

January 27, 2022

Via: The Wall Street Journal

If you were born after 1980, the monetary tightening that the Fed said this week will begin in March will be unlike any you’ve seen. This is for two reasons, both unsettling for markets. First, when the Fed began raising […]