| //24-07-2009 |
Standard Chartered Bank announced today that Ray Ferguson will be appointed Chief Executive of Standard Chartered Bank in Singapore in addition to his role as Regional Chief Executive, Southeast Asia. Ray will continue to report to Jaspal Bindra, Standard Chartered Bank’s Asia Chief Executive.
Ray, 46, has over 20 years experience in international banking; his two most recent roles with Standard Chartered were as Chief Executive of UAE based in Dubai and Chief Executive of the Americas based in New York. He has been based in Singapore for the past 18 months when he was appointed Chief Executive Southeast Asia with responsibility for the Bank’s businesses in Australia, Brunei, Indonesia, Malaysia, The Philippines, Singapore, Thailand and Vietnam.
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| //22-07-2009 |
Standard Chartered has completed the acquisition of its remaining shareholding in First Africa Group Holdings Limited (First Africa), a leading pan-African mergers and acquisitions advisory firm, raising its holding to 100 per cent. This significantly enhances the Bank's capability to provide M&A and leveraged finance services to its international clients in African-related transactions. Standard Chartered acquired an initial 25 per cent in First Africa in June 2006.
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| //22-07-2009 |
Deutsche Bank's Americas Foundation, a philanthropic arm of Deutsche Bank in the United States, today announced the commitment of five awards to assist community development efforts in New York City. The awards, combining grants and zero percent interest soft loans totaling US$1.125 million, are being made over the next three years.
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| //22-07-2009 |
The Saint Petersburg branch of Rosbank is located in a building of great historical interest that has recently been restored to all its former glory.
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| //21-07-2009 |
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| //20-07-2009 |
The following news release was issued today by The Saudi British Bank (SABB), a 40 per cent indirectly held associate of HSBC Holdings plc.
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| //20-07-2009 |
In a recent "2008 Selection of Values of Chinese Listed Companies & The 1st Selection of The Most Popular Network of Listed Company for Investors", ICBC won 6 big awards including "Top 100 Valuable Chinese Listed Companies", "Excellent Management Teams of Chinese Listed Companies", "Top 100 Secretaries of Board of Directors of Chinese Listed Companies", "The Best Chinese Listed Company with Social Responsibility", "The Most Popular Network of Listed Company for Investors" and "The Best Network of Chinese Listed Company in Information Disclosure".
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| //20-07-2009 |
Deutsche Bank has been ranked the best equity broker in the Thomson Nordic Institutional Pan-European Equity Trade and the Nordic Institutions Cross Nordic Equity Trade survey this year expanding the margin on its win from the previous year's number one ranking.
"We are pleased with our success in the Nordic Institutional Pan-European Equity Trade survey. It is always gratifying to receive public recognition which reflects our successful client business in the region," said Michael Ingelog, Head of Institutional Client Group, Nordic and Netherlands.
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| //17-07-2009 |
Bank of America Corp.'s (BAC) second-quarter income fell 5.5% on higher merger charges and continued credit woes, but results topped analysts' expectations.
The banking giant is considered particularly vulnerable to unemployment, and the condition of its mammoth portfolio of credit-card loans could be a bellwether for the rest of the industry. Credit-card losses were flat during the quarter at $13.38 billion.
Bank of America and others have enjoyed a lift from the mini-boom in mortgage financing, and several other banks that have reported this week have also reported strong results in investment banking.
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| //17-07-2009 |
The Singaporean central bank said Thursday that it had suffered a net loss of $6.3 billion for the year ending March 31, its first ever, citing the effects of the global financial crisis on its assets.
“The unprecedented global financial crisis had a severe impact on financial markets worldwide and many asset classes suffered steep declines,” the bank said, “which affected the valuation of the Authority’s foreign assets.”
The loss, originating largely from foreign operations, represents just 3.5 percent of the value of assets at the bank, known as the Monetary Authority of Singapore.
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| //17-07-2009 |
The world is currently reflecting on the various problems in the banking industry and China is no exception. During recent joint-stock reform, the Chinese banking industry made great efforts to introduce international strategic investors to learn the advanced techniques and management experience of overseas banks; however, some strategic investors have reduced their stakes in Chinese banks after the expiration of the lockup period.
Some people are questioning whether the reform mode of China’s banking industry is correct. On the other hand, some international peers have suffered huge losses during the global financial crisis, while China’s banking industry is delivering rapid growth.
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| //17-07-2009 |
Saxo Bank, the online trading and investment specialist, today expanded its multi award-winning Saxo Trader platform with the launch of the FX Options Board, a new and innovative way to trade FX Options.
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| //17-07-2009 |
UBS AG announces that UBS Saudi Arabia has received approval from the Capital Market Authority (CMA) to commence securities today business activities in the Kingdom of Saudi Arabia. This enables the firm to expand its presence in the Middle East and marks a further step towards the firm’s goal of becoming one of the region’s leading financial services providers.
UBS Saudi Arabia is based in Riyadh and will provide the firm’s comprehensive range of services to government, corporate and individual clients covering wealth management, investment banking, fixed income sales and execution, and institutional asset management.
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| //03-07-2009 |
Bank of America Corp. set the tone for the banking industry's response to California's decision to issue IOUs.
That message, essentially, is this: "We'll help you for a week. If you can't get your act together and nail down a budget by then, you're on your own."
Bank of America announced late Wednesday that it would redeem in full the state's IOUs (formally, "registered warrants") from current BofA customers who want to cash them in. But the bank set a cutoff date of July 10.
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| //02-07-2009 |
Barclays Capital, the investment banking division of Barclays Bank, said it named Jonathan Brown head of its emerging markets syndicate and head of its European credit syndicate in London. He will be based in London and report to Mark Bamford, head of the firm's global fixed income syndicate in New York.
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| //02-07-2009 |
HSBC Bank plc has sold its 49 per cent holding in HSBC Merchant Services LLP (HMS), the card processing joint venture that serves its UK business clients, to its partner in the venture, Global Payments Inc., for a consideration of US$307.7 million in cash.
The HMS joint venture was created in June 2008 when HSBC sold a 51 per cent stake to Global Payments Inc., a leading processor of electronic transactions. HSBC and Global Payments also have sale-and-referral agreements in the US and Canada along with a joint venture in Asia covering 11 countries and territories.
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| //02-07-2009 |
Saxo Bank A/S, the online trading and investment specialist, announces that it has launched its FX service in Japan with the acquisition of Astmax FX Co., Ltd. (Astmax FX). The purchase is approved by relevant regulatory bodies in Denmark and Japan.
Saxo Bank opened its Japan office in 2008 providing support to institutional clients. The acquisition and renaming of Astmax FX to Saxo Bank FX K.K. allows Saxo Bank to offer FX related products to the Japanese retail market under the Type 1 Financial Instrument Dealer license with the Japanese Financial Services Agency. Saxo Bank FX’s client funds will be held in a separate trust bank account.
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| //02-07-2009 |
Standard Chartered PLC (along with its subsidiaries the "Group") will be holding discussions with analysts and investors ahead of its close period for the half year ending 30 June 2009. This statement details the information that will be covered in those discussions.
Peter Sands, Group Chief Executive, commented, "Standard Chartered has continued to deliver another strong performance in the first five months of the year, with record levels of income and profit. Although there are tentative signs of improving economic conditions in some of our markets, equally there are signs of continuing stress.
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| //02-07-2009 |
Barclays announced today that it has completed its biennial review of the legal firms used by the Group. The Barclays Legal Panel comprises a General Advisory panel and 10 specialist panels, which service the Group’s business and strategic legal needs.
Barclays was among the very first companies to introduce law firm panels in the UK in 2000 and continues to believe that the panel system ensures mutually effective relationships with law firms.
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| //29-06-2009 |
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