QFB unveils new brand, private banking lounge

  Qatar First Bank (QFB), the first independent Shariah-compliant financial institution regulated by the Qatar Financial Centre Regulatory Authority (QFCRA), has launched its exclusive Private Banking Lounge and unveiled its new brand and future strategic direction. Established in 2009 as a boutique investment bank, QFB has since then evolved and implemented a new business strategy.…

HSBC to Close India Private Banking Unit as Competition Grows

MUMBAI — HSBC Holdings Plc is closing its private banking unit in India as part of its group strategy, the bank said, marking the exit of another foreign bank from the cut-throat wealth management business in Asia’s third-largest economy. The bank would offer private banking clients the choice to move to HSBC Premier, the bank’s…

European Commission Approves Greek Government Aid to Piraeus Bank

BRUSSELS — The European Commission approved on Sunday additional Greek government aid to the country’s biggest lender Piraeus Bank on the basis of an amended restructuring plan after European Central Bank stress tests showed the bank needed extra capital. “The European Commission has approved additional state aid of 2.72 billion euros to Greek Piraeus Bank…

Spanish Economic Growth Improved From Third Quarter in October-Economy Minister

MADRID — Spain’s economic output picked up in October from the third quarter, when it posted one of the fastest growth rates in the euro zone, Economy Minister Luis de Guindos said in a newspaper interview published on Sunday. “Early indications tell us that at least for the month of October growth was stronger than…

Paris Attacks Unlikely to Have Much Impact on UK or Global Economy

LONDON — The attacks in Paris are unlikely to have a significant impact on the British or global economy, a Bank of England policymaker was quoted on Monday as saying. Don Kohn, a member of the BoE’s Financial Policy Committee, said the effects of the Nov. 13 attacks by militant Islamists, which killed 130 people, remained…

Italy launches 3.6 billion euro bank rescue with new fund

ROME Шейднon Sunday launched a new system set up by its central bank to save four small savings banks from failure before stricter rules for winding down lenders come in next year. The rescue will be conducted by the Bank of Italy at a cost of 3.6 billion euros ($3.83 billion). This will be borne…

Credit Suisse to launch new digital wealth management offering.

Next month Credit Suisse Private Bank will be rolling out new digital capabilities in Asia, and April will see the launch of a tablet banking offering in Switzerland. CEO Hans-Ulrich Meister, speaking to Euromoney, reveals the bank’s plans to digitize its private banking capabilities, initially focused on Asia. CEO Hans-Ulrich Meister “Given the profound shift taking…

How to write the perfect compliance CV

Compliance professionals are now in demand world over, with vacancies opening up as banks grapple with new regulations and try to avoid billion-dollar fines. But more people are also entering the sector as compliance roles become more interesting and more lucrative. If you’re applying for a job in compliance, toning up your resume is a…

European liquidity boosts JPMorgan Private Bank

Phil Di Iorio, CEO of JPMorgan Private Bank, talks about where his firm is seeing growth from around the globe. Phil Di Iorio Further reading All the CEO interviews Despite Europe’s economic challenges, Di Iorio says the continent is providing opportunities for private banks. “We are seeing a lot of liquidity events in Europe through…

RBS and other banks have ‘creaking IT systems’

Head of bankers’ association blames move to mobile banking for payment processing glitch. RBS’s latest IT failure was described as unacceptable by the head of the British Bankers’ Association, who said banks’ IT systems were “creaking” under the strain of customer demand. In an interview on Radio 5’s Wake up to Money, the chief executive…