Close Wealth Management today made a seasonal pitch for more charitable fund management contracts by pointing out that UK charities have seen the value of their equity portfolios fall by 3.27 billion (or 11 per cent) over the past two
Russian President Vladimir Putin yesterday signed into law a retail deposit insurance bill that will ensure Russian depositors are compensated up to Roubles 100,000 (US$3,400) for any losses when a bank collapses. Coupled with a move to allow the Russian
Barclays has become the latest UK bank to admit that it is looking at outsourcing more functions to India to cut costs, risking problems with the trade unions over the export of jobs. UK banking union Unifi says that 1,700
SYWG BNP Paribas Asset Management says the China Securities Regulatory Commission has given the regulatory go ahead to SYWG BNPP AM, its fund management joint venture with Shenyin & Wanguo Securities Corporation. The joint venture company, which is registered in
Investors in Korean companies could face a tighter timetable when complying with the regulatory requirement to report shareholdings of above 10 per cent in Korean companies. A draft set of reforms published on Boxing Day by the Financial Supervisory Service
The Mitsubishi Tokyo Financial Group (MTFG), the holding company of The Bank of Tokyo Mitsubishi (BTM) and The Mitsubishi Trust and Banking Corporation (MTB) will from April next year operate through a series of integrated business groups. "The move is
The listed but family controlled Catalonian bank Banco Sabadell, a medium sized Spanish retail provider, has acquired the rival Banco Atlantico for Euros 1.5 billion. The bank saw off rival bids from Barclays Bank of the UK owners of Banco
HSBC is buying 50 per cent of Fujian Asia Bank Limited for "not more than" US$20 million in cash, funded from internal resources. China Ping An Trust & Investment Co. Limited, a subsidiary of Ping An Insurance (Group) Company of
The State Street Associates investor confidence index rose 7.1 points this month to 114.8 from a revised November level of 107.7. The index gain was the year's largest, concluding 2003 at a twelve month high after rising from 98.0 at
Canadian Imperial Bank of Commerce (CIBC) will pay $80 million to settle charges it helped Enron perpetrate an accounting fraud, US regulators announced yesterday. The settlement is one of the largest regulatory penalties ever levied against a Canadian bank. The