HSBC Said to Get Turkey Unit Bids as Citi Hired for Sale
July 2nd, 2015
HSBC Holdings Plc shortlisted three bidders for a sale of its unprofitable Turkish unit after hiring advisers from Citigroup Inc. to help drive a sale, according to three people with knowledge of the matter. ING Groep NV of the ...
Top Stories of the day June 26
June 26th, 2015
1. Citigroup Inc (C.N) will combine its retail banking and mortgage operations under Jonathan Larsen, according to an internal memo seen by Reuters, in the second senior promotion for a veteran of the bank’s Asian franchise this year. The ...
Regulatory Fine
June 26th, 2015
Global Regulators Cyprus Securities and Exchange Commission (CySec) Fines Imposed for Year 2015 and 2016
Clifford Chance advises Deutsche Bank, J.P. Morgan and Standard Chartered Bank on a $500 Million Offering
June 23rd, 2015
Clifford Chance has issued a press release to inform that: The firm has advised Deutsche Bank, J.P. Morgan and Standard Chartered Bank in connection with the $500 million offering of 6.950% notes due 2025 by the Gabonese Republic. It ...
UBS Gave Out ‘Instruction Manual on Fixing Libor,’ Hayes Said
June 19th, 2015
Thomas Hayes, a former trader on trial over charges he manipulated benchmark rates, told prosecutors in 2013 that UBS Group AG distributed “an instruction manual on fixing Libor” to suit their trading positions. The Swiss bank’s e-mailed “Guide to ...
FCA imposed £1.47bn in fines in 2014 with UBS and Citibank among worst offenders
June 17th, 2015
The Financial Conduct Authority (FCA) imposed £1.47bn (€2.04bn, $2.3bn) in fines on companies in 2014, a rise of 68% from the year before, according to a study by Kinetic Partners. The study showed the average fine imposed on businesses ...
Libor Brokers Called Hayes Berating ‘Very Upsetting’ in Messages
June 17th, 2015
Thomas Hayes, the former UBS Group AG and Citigroup Inc., trader accused of rigging Libor, berated brokers and colleagues when things didn’t go his way, according to messages shown to jurors by prosecutors. Hayes communicated daily with interdealer brokers, ...
S.Korea reviewing whether global banks in FX probe affected Korea
June 17th, 2015
South Korea’s anti-trust agency chief said on Wednesday the agency is looking into whether the activities of six global banks that were recently fined nearly $6 billion in a U.S. and European forex probe had affected South Korean companies. ...
Ex-Deutsche Bank Trader Said to Sue U.K. FCA in Identity Spat
June 12th, 2015
Joerg Vogt, a former trading executive at Deutsche Bank AG, sued the U.K. financial regulator for indirectly identifying him in its Libor settlement with the bank, a person with knowledge of the case said. Vogt, the bank’s former director ...
Deutsche Bank’s grip on Asia FX market may slip on Jain’s exit
June 11th, 2015
The exit of Deutsche Bank co-chief executive Anshu Jain may see the lender surrender its strong position in Asia’s fast growing foreign exchange and fixed income markets, with incoming CEO John Cryan expected to cut some of the capital-intensive ...
