- Managers of Wealth - Europe - Wealth, private banking and asset management news and opinion

Sir Mervyn King criticises 'shoddy' treatment of customers by banks

The bank was hit with a fine of £290m by the Financial Services Authority for manipulating interest rates - while chairman Bob Diamond has faced calls to resign.

WestLB’s Fall From Grace Is Lesson in Investment Hazards

As of June 30, WestLB will cease to exist as part of European Union conditions tied to a total 17 billion euros ($21 billion) of aid to bail out the bank following the 2008 financial crisis.

Credit Agricole in Cheuvreux sale talks

French bank Credit Agricole is in talks to sell its loss-making Cheuvreux brokerage arm to financial services group Kepler Capital Markets, sources familiar with the matter said on Friday.

French bank Said Mulling Moving Loans to Belgium

The bank might move some loans in Italy and Spain to Belgium, in a bid to narrow a 40-billion-euro funding gap in those two countries, Bloomberg News reported Monday on its website, citing three unnamed sources.

Credit Agricole eyes Greek unit sale -FT

Citing two unidentified banking sources, the FT said on its website that National Bank of Greece, Alpha Bank and Eurobank EFG had indicated they were ready to make bids for Emporiki subject to getting approval from the Hellenic Financial Stability Fund.

Asian banks ready to acquire European banks' assets

Asian banks stand ready to pounce on assets of European banks if they are up for sale.

Lloyds kicks off agency talks ahead of bank launch

Lloyds is under pressure to sell or float the branches as a new independent bank

BNP Paribas’s Villeroy Says Italian Unit BNL is ‘Solid’

BNP Paribas, together with French rivals Societe Generale SA (GLE) and Credit Agricole SA, was among 15 global banks downgraded by Moody’s Friday.

Greek bank scoops international loyalty award

The top names in the loyalty business from right across Europe and the Middle East met in London to celebrate excellence, achievement and innovation.

US politicians attack 'London loophole' as JP Morgan boss explains $2bn loss

Giving evidence to US lawmakers yesterday[Tuesday], Mr Dimon said JP Morgan’s CIO [Chief Investment Office] operation “could have been in London or somewhere else” as he defended the bank’s British operations.

Moody’s cuts ratings on 11 European banks

Moody's Investors Service said yesterday it had taken action against five Dutch banking groups, three French banks and one each from Belgium and Luxembourg.

Government to split retail and investment banking

A white paper released by the government has laid out proposals to separate the retail from investment banking by ring-fencing and by increasing competition in the sector.

UBS knocks James Capel off its perch

The 2012 Thomson Reuters Extel Survey continues to capture deeper, more analytical data from all the key market practitioners than ever before. Voting was conducted primarily online and ran from 19 March to 4 May 2012.

Credit Agricole, SocGen's Greek units get central bank support-sources

Another source said Geniki was also granted access to the liquidity funds.

Prescient buy AIB asset management subsidiary

Prescient Investment Managers (Ireland) Ltd employs 80 people managing funds for a wide variety of clients, including pension, corporate, charity and private clients both in Ireland and overseas.

JPMorgan media banker moves to private equity role

Hampson is taking over from Karen Simon, who decided to move back to the United States as vice-chairwoman of investment banking, global oil and gas, an area that she had previously covered earlier in her career with the bank.

British banks among the most unprofitable in the world

Britain’s banks were only underperformed by Italian lenders, producing an average return on shareholders’ equity last year of less than 4pc, compared with 26pc in Indonesia, the world’s most profitable banking market.

RPT/Kuwait's Global to get bond repayment delay approval - sources

If agreed, it would be the second time holders of the 45 million dinars paper have agreed an extension, having initially pushed out repayment to June from April.

Austria Hires Morgan Stanley to Sell Kommunalkredit

The nationalization prevented a collapse of Kommunalkredit, which was owned by Oesterreichische Volksbanken AG (VBPS) and Dexia SA (DEXB) and faced a liquidity squeeze as it was wholesale funded.

UK banks face jump in funding costs as Moody's prepares downgrades

The cuts will potentially cost banks billions of pounds in additional funding costs as well as forcing them to hand over billions more in collateral to trading counter-parties.

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