Banking: Korea’s escalating hiring fight could bring down half the industry
South Korea has always done scandals very well and its banking sector is in the middle of an absolute doozy at the moment. On June 17 prosecutors indicted 38 senior officials at six banks for hiring irregularities. There are 695...
Forese aims high with CIB rejig at Citi
Jamie Forese, the head of Citi’s sprawling institutional clients group, this week elevated two of his key lieutenants to co-head a newly formed banking, capital markets and advisory (BCMA) division. The move, in which capital markets origination (CMO) head Tyler...
Economic change: Mexico is missing the main target
The Mexican economy has been remarkably a consistent performer since the 1994 tequila crisis. Annual GDP growth has averaged 2.48% and, while there have been some peaks and troughs, economic performance has been remarkably consistent regardless of who has formed...
China’s stimulus policies mitigate the risks of trade-related setbacks
China’s country risk score improved in Euromoney’s survey during the first half of 2018 by 1.6 points to cement its position in 42nd place out of 186 countries in the global rankings. That puts China close to Italy and Malaysia...
Investment banks in 2Q18, part 1: group and CIB
First, a graph. There will be lots of these. In summary, PBT growth driven by lower costs more than by higher revenues, those costs proving harder to cut in CIB divisions than elsewhere, DCM sort of flat, advisory up a...
Diversity & Inclusion: What the next generation thinks
By Elizabeth Bratton As part of the Euromoney Awards for Excellence process, we receive numerous pitches from global, regional and local banks showcasing their credentials in diversity and inclusion. The winner of our award for the World’s Best Bank for...
Convenience and control continue to steer payments innovation
Bank of America Merrill Lynch (BAML) became the latest bank to upgrade its mobile banking technology this week, adding fingerprint and facial recognition functionality to its CashPro mobile banking platform. CashPro, which serves the bank’s commercial, large corporate and business...
SocGen acquires crowdfunding platform for renewable energy
By Elizabeth Bratton and Peter Lee On June 21, Société Générale announced the acquisition for an undisclosed sum of Lumo, a French crowdfunding platform, through which users can invest small sums into sustainable power projects, and, in return, receive a...
Goldman signals Brazilian focus
Goldman Sachs believes that the changing role of BNDES in Brazilian infrastructure finance will lead to a boom for it and other private-sector financiers. The bank, which appointed the former president of BNDES Maria Silvia Bastos Marques as its country...
London Stock Connect may give China a bridge to New York
By Noah Sin About four years after the equity link was first floated as an idea, the London Stock Exchange (LSE) has laid out the ground rules for the connect. China and the UK will launch the first product as London...