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CEO’s departure comes ahead of business’s full integration into German bank
Reorganisation changes reporting lines
With a top quality management team now able to focus on growth, Wells Fargo could shake up the pecking order in investment banking
Financial institutions dealmaking is at an 18 year high but banking consolidation is elusive
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Two ex-Citigroup debt bankers who had led MUFG’s attempt to climb up the fixed income league tables are no longer in their roles at the bank and will be leaving. -
UniCredit’s has chalked up its best quarterly numbers in a decade, its CEO said on Thursday, with the performance of the investment bank lifted by soaring trading revenues. The Italian lender claimed victory on its ‘Transform 2019’ plan, ahead of the launch of a new business strategy early next month.
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National Bank of Bahrain has made a bid to buy a majority stake in Bahrain Islamic Bank, of which it already owns 29%. The move is the latest in a seemingly endless round of consolidation between Gulf banks, driven by the effort to become more competitive in what many have called an oversaturated banking market.
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UniCredit sold its entire stake in Mediobanca through a €784m block trade on Wednesday night, before announcing its third quarter results on Thursday morning.
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A slump in big deals and a quest for fee growth is pushing the big banks into mid-market M&A to an extent that has not been witnessed before, writes David Rothnie.
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Société Générale reported a slump in overall profit as part of its third quarter results on Wednesday, but was keen to draw attention to a near-50bp improvement in its capital ratios, thanks to restructuring actions.
