DIRS.INFO The most relevant business & tech news

Credit Suisse staff had already been seeking to jump ship in recent weeks, sources told Reuters. "Many Credit Suisse bankers had already been talking to a lot of people for a while [about leaving the Swiss bank]. An executive at a rival London-based wealth manager said they had seen a steady flow of CVs coming in from Credit Suisse bankers. UBS told Credit Suisse wealth bankers on Monday that it was weighing financial sweeteners for them to stay, as it seeks to reassure key staff. Some experts have said Britain's financial services industry could ultimately benefit from recent bouts of turmoil in the United States and Switzerland.

With assets of around 5.5 billion pounds and deposits of around 6.7 billion pounds, SVB UK is a minnow compared to HSBC. The situation was urgent because SVB UK had lost almost half of its deposits in the 48 hours leading up to its rescue, the source said. Officials from the Bank of England and Treasury along with board members from SVB UK were then locked in talks. HSBC also plans to inject 2 billion pounds of liquidity into SVB UK, a spokesperson for HSBC said. Advisory firm Rothschild, which advised SVB UK according to sources, also declined to comment.

StanChart declined to comment on the reports of a fresh bid, while FAB did not respond to requests for comment. While StanChart's balance sheet, staff numbers and global footprint dwarf FAB's, it is worth half as much. StanChart's shares rose by 11% on Thursday after Bloomberg News reported that a possible FAB bid would value its target at $30 billion to $35 billion, a significant premium to the Asia-focused banking powerhouse's $24 billion market value. A second shareholder questioned whether FAB's shares would be attractive to British-based holders of StanChart stock. "I can't think shareholders would relish adding a small Gulf bank to Stan's current geographic mix," the investor added.

[1/2] Chief Financial Officer of HSBC Georges Elhedery poses for a photo in this undated handout picture. It’s also surprised investors and raised questions about HSBC’s direction. Known at HSBC (HSBA.L) for his strategic vision more than for his accounting skills, Elhedery has climbed the ranks of HSBC’s investment bank since joining in 2005. "It was a surprise to us,” said Hugh Young, Asia chairman of Aberdeen Standard Investments, one of HSBC's top 25 shareholders. CEO Noel Quinn has done a good job but investors are impatient for faster progress, Young said.

Search resuls for: "Lawrence White Sinead Cruise"

4 mentions found