There are a lot of banks who are planning to increase their headcount in Saudi Arabia such as Goldman Sachs, JPMargans, UBS and Citigroup.The reason is simple they all expect lucrative opportunities from the recent economics reform that lead to the country’s massive privatisation and its increasingly liberalised financial markets. Goldman Sachs regional boss, Wassim…
EFG International, the Zurich-listed wealth management house that has bulked up from its acquisition of fellow Swiss-based private bank BSI, has appointed a new chief executive to replace Joachim Straehle, who has announced he is retiring at the end of this year. The new CEO is Giorgio Pradelli, who has been chief financial officer. Succeeding…
The initiative to create a blockchain-based technology to support trade finance transactions was first launch by UBS group AG and IBM Corp. Now other bank seems to join the initiative such as Commerzbank AG, Bank of Montreal, Erste Group Bank AG and CaixaBank SA. The platform called Batavia would help banks and their clients automate…
FRANKFURT — Europe has taken a small step in its long march toward economic normalcy. The European Central Bank said on Thursday that it had pondered how to wind down its easy money policies, an enormous stimulus program aimed at promoting growth and inflation in the eurozone. But the bank also postponed a decision on…
John Cryan says bubbles are emerging in parts of market ahead of European Central Bank monetary policy meeting. It is time to start raising interest rates, the chief executive of Deutsche Bank has said, warning that bubbles are emerging in parts of the market. Speaking in Frankfurt, John Cryan said: “The era of cheap money in Europe…
France’s BNP Paribas harbors ambitious plans for its Swiss business: assets under management as well as profit are due to rise substantially thanks to a set of measures that includes cost cuts. Geoffroy Bazin, CEO of BNP Paribas Switzerland since 2013, on Friday presented the growth plan named «Swiss Forward». He presented the new strategy…
The U.K.’s biggest listed fund manager Schroders gobbles up a Swiss private equity pioneer, one that has been an important player on the Swiss market for more than two decades. It is financial sector history in the making: Schroders is taking over the Swiss private equity specialist Adveq, as disclosed Thursday by the British fund…
French banking group BNP Paribas has strengthened its wealth management division with multiple senior hires. These include appointment of Pierre Vrielinck as the new CEO of Asia Pacific, replacing Mignonne Cheng. Vrielinck has been working at BNP Paribas since 1998, previously holding various senior roles at the firm such as COO of BNP Paribas Switzerland,…
UBS customers won’t have to sign bank documents any longer. Switzerland’s biggest bank is introducing the digital signature UBS henceforth will allow its clients to sign legally binding documents electronically. Contracts in online banking will require the digital signature only, according to a report today by «Computerworld», which cited Andreas Kubli, head of multichannel management…
Swiss private bank EFG International has appointed Franco Polloni as head of Central Switzerland, Ticino and Italy region and a member of the executive committee. He will replace Renato Santi, who will leave the firm after the integration of BSI’s Swiss business into EFG, expected to take place in the course of April 2017. Polloni has…
