02/26/2012

DIFC, TheCityUK join hands

DIFC has signed a Memorandum of Understanding (MoU) with TheCityUK to share financial, legal and regulatory expertise, collaborating on areas of mutual interest including closer links on education, training and qualifications.

02/26/2012

Bonus cuts hide bigger problem for investment banks

From reducing bonus pools, to capping the amount of cash paid out and clawing back past incentive awards, investment banks are taking what many analysts say is a long overdue look at how the sector’s high pay levels are impeding profit growth.

02/23/2012

French wealthy eye escape exit as tax burden rises

Advisers to the millionaires report a rise in inquiries from those considering an exit to Switzerland or Monaco - or even Belgium and Britain - before presidential elections this spring.

02/23/2012

Natixis Fourth-Quarter Profit Declines 32%

Natixis SA, the investment-banking and asset-management unit of Groupe BPCE, said fourth-quarter profit fell 32 percent after writing down Greek sovereign debt.

02/23/2012

Credit Agricole Has Wider-Than-Estimated Loss on Writedowns

In 2012, “the main worry is the need for economic growth to get restarted,” Chief Executive Officer Jean-Paul Chifflet said in an interview with Bloomberg Television. The company, which holds the largest lending book in France, plans “to

02/22/2012

Europe has ring fenced 'Greece' for now: HSBC Private Bank

Arjuna Mahendran, the managing director, Head Investment Strategy Asia, HSBC Private Bank tells CNBC-TV18, he expects the European Central Bank (ECB) to infuse 400 billion to 1 trillion euro via a second Long Term Refinancing Operation (LTRO) on February

02/22/2012

Bankers, Watch Your Bonus, It May Be Revoked

Swiss bank UBS is taking back 50 percent of share-based bonuses over 2 million Swiss Francs ($2.2 million) paid to investment bankers in 2011, after a profit plunge for 2012.

02/22/2012

Exclusive: HSBC To Overhaul UK Bonuses

HSBC, which will report its full-year results for 2011 next Monday, is to issue tens of millions of pounds in new shares to cover any bonuses of more than £50,000 awarded to UK-based employees, people close to the bank tell me.

02/22/2012

Chastened UBS uses 150th events to polish image

The bank has been back in the headlines for the wrong reasons this month after it posted poor results for the last three months of 2011 and over its involvement in a global inquiry into a conspiracy to manipulate interbank lending rates.

02/22/2012

Record year for St James's Place

“Whilst the road to recovery for the UK economy is likely to remain challenging, the need for trusted financial advice is greater than ever. Given the market opportunity available to us, together with the continuing growth and development of the Par

02/21/2012

Erste Bank retains crown as leading private bank

The awards are even more relevant as they are based on a survey conducted within the industry, and therefore it was not a jury, but rather industry experts themselves who assessed and ranked the individual banks.