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

SOCIETE GENERALE: Two Major Strategic Initiatives In French Retail Banking

The combination of the Societe Generale and Crédit du Nord banking networks will form a new entity at the service of nearly 10 million customers

The Bank of New York Mellon opens a new branch in Denmark

BNY Mellon is a truly global bank and we’re excited that this new branch will drive growth and allow clients to access our capabilities around the world more seamlessly.

Piraeus Bank profit drops on higher loan-loss provisions

The bank said it had 5.3 billion euros of loans under payment moratoria at the end of September.

Lloyds to close 56 branches

Following a Covid-19-related pause, Lloyds Banking Group has resumed plans to close 56 branches across its network, affecting 160 jobs.

Spain's BBVA to sell US banking arm to PNC for US$11.6 billion

Shares in BBVA jumped almost 16% to €3.6830, while shares in Spain's Sabadell rose 12.7% to €0.3791 as the market bet that BBVA could use part the proceeds from the sale to buy its smaller Spanish rival, which has a current market capitalis

John Lewis and Lloyds cut 2,570 jobs in business shake-ups

Union calls for bank changes to be put on hold during pandemic

Lloyds Bank to axe more than 1,000 jobs to simplify restructure

“These changes reflect our ongoing plans to continue to meet our customers’ changing needs and make parts of our business simpler.

BNP Paribas posts profit beat for third quarter and maintains guidance for the year

The lender also said it has 472 billion euros available in liquidity reserves.

Sainsbury's mulls sale of banking arm amid near-zero interest rates

It comes as small and medium-sized lenders have been recently battling near-zero interest rates and tough competition, which have put a strain on margins.

EBRD provides €20 million loan to Banca Intesa Beograd

The EBRD funds will address the liquidity needs of corporates, small businesses and municipalities that are experiencing a decrease in their activities and turnover due to the spread of the virus.

Natwest beats expectations on lower impairments

“Profitability is already fairly weak thanks to ultra-low interest rates, it might not take much to tip the bank into a loss."

HSBC to accelerate restructuring plan to cut costs

HSBC has not yet said if its plan to accelerate its restructuring will mean more jobs will go.

Santander rebounds from historic loss as loan repayments pick up

Santander returned to profit in the third quarter following a historic loss, upgrading its full-year forecasts as customers began to recover from the initial impact of Covid-19.

Largest Russian Bank to open office in Abu Dhabi

In late September, the state-owned bank signed an agreement with Abu Dhabi sovereign investor Mubadala Investment Company to "tap the potential of mutually beneficial opportunities ".

HSBC to Shed up to 300 Staff from the UK Offices

This lay-off is a part of the lender’s global restructuring program.

First Caribbean bank launches in the United Kingdom

Marshall said while JN Bank will offer accessible products and efficient customer service to persons in the UK, the bank will be driven by JN’s mutual heritage, its traditional roots in the community and a genuine care and interest in customers.

Deutsche Bank CEO Focused on Strategy But Won’t Rule Out M&A

The two lenders briefly held informal talks last year and Sewing, too, privately favors a deal with UBS, Bloomberg News has reported.

NAB Announces Analytics Platform For SME Customers

NAB will run a pilot of Pollinate in March 2021 before rolling out the technology across its customer network.

Germany's Deposit Solutions launches in the US

The US launch comes nearly a decade after Deposit Solutions founded its European platform, which now connects more than 150 banks from 20 countries and exceeded the mark of $30 billion transmitted deposits earlier this year.

TSB to close 164 high street banks affecting 969 jobs

This means having the right balance between branches on the high street and our digital platforms, enabling us to offer the very best experience for our personal and business customers across the UK.