12/19/2011
Royal Bank of Scotland planning closure of half of its investment arm
Consultants from McKinsey & Co are advising on the restructuring, details of which were last week discussed at a meeting of the bank’s board.
Investment Banking
12/19/2011
IRB chairman welcomes HSBC Sevens World Series move to Glasgow
Glasgow will now host the penultimate round of the Series from May 5 and 6 next year and the Lapasset, recently re-elected as chairman of the IRB for another four-year term, has expressed his delight.
12/19/2011
Lloyds battles to keep Scottish TSB brand in sale of branches to Co-op
The Co-op was last week named the preferred bidder over NBNK Investments for a package of branches, including the 185 Lloyds TSB Scotland outlets north of the Border.
12/16/2011
Top US bank poised for massive job cut as exposure to Euro crisis weighs ops down
New York City is bracing itself for more job cuts on Wall Street as banks face a still sluggish US economy, the prospect of a recession in Europe and tougher capital requirements.
12/16/2011
Deutsche Bank To Sell Asset Management Unit
Positions will go across all layers of the business and geographies, said Morgan Stanley. The bank, which employs just over 60,000 people including several thousand in the City of London, has seen its shares tumble by almost half this year as investors wo
12/15/2011
Top Swiss bank merges FX and EM fixed businesses
The bank says the rationale behind the move is that emerging markets represent a 45% share of wallet of global FX industry revenues.
12/09/2011
Banks prep for life after Euro
At least one—the Central Bank of Ireland—is evaluating whether it needs to secure additional access to printing presses in case it has to churn out new bank notes to support a reborn national currency, according to people familiar with the mat
12/09/2011
U.S. firms build cash buffer to European crisis in Q3
After getting stung by the U.S. financial crisis that accompanied the recent recession, companies are bracing for a possible worsening of Europe's debt crisis that could make it harder to borrow money.
12/09/2011
European banks ordered to raise £100bn of emergency funds
Stress tests by the European Banking Authority gave British lenders a clean bill of health but showed a shortfall on the Continent of €114.7billion (£97.8billion).
12/09/2011
Emerging markets lender hit by currencies
Standard Chartered's corporate finance and wealth management divisions have been its weakest performers.
12/09/2011
Argonaut adds Euro banks in high-alpha fund
Partner Barry Norris has introduced around 3 per cent exposure to Banca Intesa, BNP Paribas and UBS, which marks the fund’s first eurozone bank exposure in four years.
12/08/2011
Britain Suffers as a Bystander to Europe’s Crisis
There is looming recognition at 10 Downing Street that if the euro falls, Britain will sink along with everyone else.
12/08/2011
Irish 'bad bank’ NAMA should be sold in one go
NAMA was set up as a “bad bank” in the midst of Ireland’s banking crisis to enable the country to create new banks unencumbered with toxic loans.
12/08/2011
UK chancellor tells banks to chop bonuses
Instead of reducing loans on their balance sheets, which could starve the wider economy of credit, they should build up their capital reserves, possibly by tapping shareholders, the FPC added.
12/07/2011
Hungary banks take FX hit, brace for more pain
The resulting income erosion has prompted the government to tackle what it has called "debt slavery".
12/06/2011
Lawyers wrangle over RBS 'gamble'
The bank's former directors include Sir Tom McKillop, who was RBS's chairman, and Sir Fred Goodwin, who orchestrated its expansion as chief executive.
12/06/2011
Top global bank's unit to dispose retail legacy portfolio
The amount of the deal with Bank Republic was not disclosed
12/05/2011
UK banks' cost-cutting specialists see pay rise - report
For most front office bankers, bonuses are set to fall sharply and reward pools could shrink by up to 70 percent after a turbulent six months for markets.
12/05/2011
KPMG receives industry recognition
KPMG picked up the Audit Award of the Year for its work with a new client, with the judges recognising that the firm had provided “innovative ways of adding value” and done so quickly.
12/05/2011
RBS report said to focus on investment banking official's role in its collapse
Two other senior executives are left out