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Banker had been with Dutch lender for just over a year
Two more follow Darwish and Safa leaving last month
The US bank is reshuffling several roles in the Middle East
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Citi’s Asia Pacific chief executive Francisco Aristeguieta is leaving to join State Street. The search is on for a longer-term replacement but his job will be filled in the interim by Citi’s productivity head. -
The new World Bank president used his first public statement to pledge to increase efforts to ensure China was more transparent in its lending to Africa.
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The creditworthiness of corporate borrowers in advanced economies has deteriorated while the volume of debt and financial risk taking has risen, the International Monetary Fund has warned. It also flagged up concerns about the sovereign-bank nexus in the eurozone and about market conditions for low income and frontier countries.
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Société Générale has appointed Demetrio Salorio, its global head of debt capital markets, as UK head of global finance, replacing Alvaro Huete.
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Standard Chartered is paying $1.1bn in penalties to US and UK authorities in relation to breaching rules relating to sanctions and financial crime. This exceeds the $900m provision the bank announced in February for sanctions fines.
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Saudi Aramco’s $85bn of orders amassed before US investors even had the chance to buy makes a mockery of the idea that regulation has stopped the inflation of investor orders in bookbuilding.
