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☆ The evolution of Credit Suisse over 166 years
▼ + stars: | 2022-10-27 | by ( ) www.reuters.com time to read: +4 min

1990The group takes a controlling stake in U.S. investment bank CS First Boston and buys Bank Leu, a Swiss private bank. 1997A reorganisation turns CS Holding into Credit Suisse Group and drops the SKA name; it also buys insurer Winterthur, a strategic partner. 2002A reorganisation creates two units: Credit Suisse Financial Services and Credit Suisse First Boston; two years later it splits into three units by adding Winterthur. 2005Credit Suisse and CSFB merge and stop using the Credit Suisse First Boston brand name. In March, U.S. investment fund Archegos implodes, saddling Credit Suisse with a $5.5 billion loss.

☆ We prefer Southeast Asia assets to North Asia ones, says HSBC
▼ + stars: | 2022-10-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe prefer Southeast Asia assets to North Asia ones, says HSBCJames Cheo of HSBC Global Private Banking and Wealth says there are "pockets of opportunity" in Asia, such as resilient domestic consumption in Indonesia and parts of Thailand.

London-based PRI's network of more than 5,000 signatories including Nuveen agree to take steps like urging portfolio companies to disclose more about carbon emissions or workforce diversity. She noted Princeton University recently moved to dissociate its $38 billion endowment from fossil fuel companies. https://bit.ly/3TwDttEA spokesperson for TIAA of New York said it has taken steps including asking portfolio companies to cut emissions. "Large-scale divestments by simply selling fossil-fuel-generating investments to other companies won’t necessarily reduce carbon output," said the spokesperson. Other PRI signatories have also declined to sell off energy stocks.

☆ Singapore central bank tightens policy, Q3 GDP tops forecast
▼ + stars: | 2022-10-14 | by ( ) www.reuters.com time to read: +3 min

The Monetary Authority of Singapore (MAS), at a scheduled policy meeting, said it will re-centre the mid-point of the exchange rate policy band known as the Nominal Effective Exchange Rate, or S$NEER. The Singapore dollar was up about 0.3% to S$1.1429 per U.S. dollar after the policy decision. The MAS manages monetary policy through exchange rate settings, rather than interest rates, as trade flows dwarf its economy. The core inflation rate — the central bank's favoured price measure - rose to 5.1% in August on a year-on-year basis. "Q3 GDP obviously benefitted from domestic and border restrictions being eased," said Song Seng Wun, an economist at CIMB Private Banking.

HONG KONG, Oct 13 (Reuters Breakingviews) - Leaders from the West’s biggest financial firms will land in Hong Kong next month — in most cases their first trip to the city in three years — with some tough questions for their hosts. They arrive amid the worst U.S.-Sino ties in decades, with Hong Kong unhappily stuck in the middle, bringing frustration for companies who have invested much capital and time in the country. Investment banking fees have dried up everywhere, but it’s particularly bad in mainland China and Hong Kong. Hong Kong has been a big beneficiary of their ambitions. Reuters GraphicsFollow @ywchen1 on TwitterCONTEXT NEWSThe Hong Kong Monetary Authority will host the Global Financial Leaders’ Investment Summit on Nov. 2.

☆ Deutsche Bank names former Credit Suisse banker as new APAC head of private bank
▼ + stars: | 2022-10-12 | by ( ) www.reuters.com time to read: 1 min

The logo of Swiss bank Credit Suisse is seen at its headquarters in Zurich, Switzerland October 4, 2022. REUTERS/Arnd WiegmannSINGAPORE, Oct 12 (Reuters) - Deutsche Bank (DBKGn.DE) said on Wednesday it was replacing its Asia Pacific head of international private banking with a senior hire from embattled Swiss bank Credit Suisse (CSGN.S). Singapore-based Jin Yee Young, who had resigned from her role as the deputy head of Credit Suisse's Asia Pacific wealth management business, was appointed as the Asia Pacific head of the international private bank of Deutsche Bank. The veteran banker's appointment comes into effect from January, Deutsche Bank said in a statement on Wednesday. Register now for FREE unlimited access to Reuters.com RegisterReporting by Xinghui Kok; Editing by Anshuman Daga and Kim COghillOur Standards: The Thomson Reuters Trust Principles.

☆ How the wealthy use life insurance to escape estate tax and why the tactic is now attracting scrutiny
▼ + stars: | 2022-10-12 | by ( Jeffrey Cane | ) www.businessinsider.com time to read: +5 min

I'm Jeffrey Cane, stepping out from behind the 10 Things on Wall Street newsletter curtain to help catch you up on all things financial today. But first: Could I interest you in some life insurance? Yes, life insurance is one answer, but it's life insurance with a twist. This little-known tax tool, which may be coming under increasing scrutiny, is called private placement life insurance, or PPLI. It is effectively a life insurance policy that is owned by an offshore trust.

☆ Deutsche Bank names ex-Credit Suisse banker as new APAC head of private bank
▼ + stars: | 2022-10-12 | by ( Xinghui Kok | ) www.reuters.com time to read: +1 min

The logo of Swiss bank Credit Suisse is seen at its headquarters in Zurich, Switzerland October 4, 2022. REUTERS/Arnd WiegmannSINGAPORE, Oct 12 (Reuters) - Deutsche Bank (DBKGn.DE) said on Wednesday it was replacing its Asia Pacific head of international private banking with a senior hire from embattled Swiss bank Credit Suisse (CSGN.S). Singapore-based Jin Yee Young, who resigned from her role as the deputy head of Credit Suisse's Asia Pacific wealth management business, was appointed as the Asia Pacific head of the German lender's international private bank. read moreThe veteran banker's appointment comes into effect from January, Deutsche Bank said in a statement. "Wealth management continues to be a cornerstone of our offering for clients in the Asia Pacific region, and a critical growth driver for our platform," said Alexander von zur Muehlen, Deutsche Bank's Asia Pacific CEO.

☆ HSBC extends Chinese private banking network to lure new digital millionaires
▼ + stars: | 2022-10-11 | by ( Selena | ) www.reuters.com time to read: +2 min

FILE PHOTO: Pedestrians wearing face masks following the coronavirus disease (COVID-19) outbreak, walk past a HSBC bank branch in Hong Kong, China February 22, 2022. HSBC sees robust demand for wealth management in Chengdu, capital of the western province of Sichuan with more than 21 million people. The bank has already launched private bank services in Beijing, Shanghai, Guangzhou and Shenzhen. “As a new class of HNW and ultra HNW individuals emerges from the vigorous development of Hangzhou’s digital economy, demand for international wealth management has also grown significantly,” Jackie Mau, head of global private banking at HSBC China, said in a statement. Beijing launched in late 2020 a crackdown that effectively halted Ant’s initial public offering that could have created more millionaires keen for wealth services.

☆ Citizens is targeting wealthy clients with the launch of a new private bank. Here's how the firm is beefing up its wealth management business.
▼ + stars: | 2022-10-11 | by ( Carter Johnson | Hayley Cuccinello | ) www.businessinsider.com time to read: +7 min

On Tuesday, Citizens said it plans to launch a new private bank by the end of the year. Citizens Private Client will cater to customers with $200,000 more in deposits or investments. Citizens Private Client is intended to retain these customers as their financial needs become more complex. Private banking is a profitable business with relatively stable revenue that is often based on fees. The new private bank program is the latest step in Citizens' strategy to beef up its wealth management offerings.

☆ Societe Generale says two senior executives to leave bank
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterThe logo of Societe Generale Private Banking is seen at an office building in Zurich, Switzerland March 25, 2022. REUTERS/Arnd WiegmannPARIS, Sept 23 (Reuters) - Societe Generale (SOGN.PA), which is seeking a new chief executive, said on Friday two senior female executives would be stepping down before the end of the year. France's third-biggest listed bank said Chief Risk Officer Sadia Ricke would leave on Nov. 30 and Caroline Guillaumin, the head of human resources and communication, would quit on Dec. 15. Ricke, a SocGen veteran, will become group chief risk officer of Asia and Africa-focused bank Standard Chartered, the London-based bank said in a separate statement. Register now for FREE unlimited access to Reuters.com RegisterRicke joined Societe Generale in 1994 and held a series of senior positions within the corporate and investment banking division before being appointed as chief risk officer last year.

☆ We're neutral about most of Southeast Asia but we like Thailand, says HSBC
▼ + stars: | 2022-09-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're neutral about most of Southeast Asia but we like Thailand, says HSBCJames Cheo of HSBC Global Private Banking and Wealth says that's because of the country's reopening and tourism industry.

☆ Wells Fargo is undergoing a major transformation under CEO Charlie Scharf. These are the units most affected.
▼ + stars: | 2022-06-28 | by ( Business Insider | ) www.businessinsider.com time to read: +8 min

Wells has been revamping its wealth business and shrinking its mortgage unit under Charlie Scharf. Change is hard — just ask Charlie Scharf, CEO of Wells Fargo. And for every scandal Wells Fargo has put behind it, a new one seems to crop up. Wells Fargo has fired dozens of loan officers accused of misusing appraisal waivers. Wells Fargo CEO Charlie Scharf has called the change in leadership at the bank a 'dramatic change.'

Persons: Wells, Charlie Scharf, Scharf, He's, Wells Fargo, Abbot Downing, Goldman Sachs, pare, Fannie Mae, Freddie Mac, Read, — Organizations: Federal, Wells Fargo Advisors, JPMorgan, Federal Reserve, Bloomberg, New York Times, Wells Locations: Wells Fargo, San Francisco, Wells

(video) Cecul bancar sau plățile cu telefonul mobil. Aceste cifre denotă faptul că moldovenii din an în an preferă să utilizeze cardul bancar în operațiunile lor financiare: achiziții de produse alimentare, vestimentație, bilete de avion sau achitarea serviciilor sau amenzilor. Astfel, printre cele mai folosite servicii bancare se regăsesc: transferuri și plăți inter/intra-bancare/internaționale, plăți în numerar, plăți prin canale electronice, private banking, internet banking, servicii de consultanță și altele. Ea este de mai multe feluri: plata cu cardul bancar, plata prin conturi virtuale, plata prin transfer bancar şi plata cu cecul. Mai multe informații despre tipologia cardurilor bancare, tipurile de plăți cu cardul sau cu telefonul mobil află în videoul de mai jos.

Persons: Ea Locations: Moldova, China, America

Wondering what the difference is between banks and credit unions? For example, many credit unions offer high-yield savings account rates at or near 2%, while most banks' savings rates hover well below that. Not all credit unions are federally insuredIn addition, not all credit unions are insured like banks. Federal credit unions are insured by the National Credit Union Administration, but some smaller credit unions are privately insured, which means they might not be backed by the US government and may not cover member deposits like federally-insured credit unions do. Can be difficult to joinIf you're interested in becoming a member of a credit union, keep in mind that credit unions can take a little more effort to join.

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