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Showing 1431 - 1440 of 17952 results for "Bank"

Credit Suisse fined $575m by regulators

CASSANDRA BALDINI  |  TUESDAY, 25 JUL 2023
US and UK regulators have imposed fines of $575 million (US$388 million) on the bank for risk management and governance failures related to the collapse of Archegos Capital Management. The US Federal Reserve has issued Credit Suisse a $394.84 million ...

KKR real estate arm reports $30m loss

CASSANDRA BALDINI  |  TUESDAY, 25 JUL 2023
KKR Real Estate Finance Trust Inc (KREF) has recorded a $29.7 million (US$20 million) loss in its second quarter ending June 30. KKR & Co. said its integrated real estate platform saw a loss of $0.37 per diluted share. When adjusted for non-recurring ...

Advisers service 120 clients on average

KARREN VERGARA  |  TUESDAY, 25 JUL 2023
... retirement planning (32%) and cashflow modelling (31%). There is also strong demand for their technology to integrate with bank accounts, trading tools, and appointment scheduling to support meeting growing client demand. In the past year, many advisers ...

Mercer appoints first Wealth Pacific chief

ANDREW MCKEAN  |  MONDAY, 24 JUL 2023
... served as managing director and global chief operating officer of client relations and marketing at RREEF (New York), Deutsche Bank's global alternative asset management wing. Marsh McLennan Pacific chief executive David Bryant commented: "Helping our ...

Major economies buoyed by tight jobs market

KARREN VERGARA  |  FRIDAY, 21 JUL 2023
... constraints, including those imposed by Brexit, have made it more challenging to fill vacancies," Smith said. Consequently, the Bank of England is forecast to lift interest rates faster than the Fed for the remainder of 2023. Developed economies continue ...

Regulators begin FAR consultation

CHLOE WALKER  |  THURSDAY, 20 JUL 2023
APRA and ASIC have commenced an early consultation on the Financial Accountability Regime (FAR), calling for input from ADIs, insurers and super trustees. Together, the regulators have released key materials for consultation to support the timely implementation ...

Wealth management ecosystem at critical inflection point: Citi

ANDREW MCKEAN  |  THURSDAY, 20 JUL 2023
The wealth management sector is at a critical juncture, confronting declining fees and escalating compliance costs, according to Citigroup research. Accordingly, the Citi Disruption and Transformation in Wealth report suggested a need for wealth managers ...

Westpac closes Specialist Businesses Division

JAMIE WILLIAMSON  |  THURSDAY, 20 JUL 2023
... Division that once housed its platforms, superannuation and insurance businesses, redeploying its lead Jason Yetton. The bank has restructured in support of its next strategic phase, chief executive Peter King said. While the restructure primarily includes ...

ASIC cancels FTX Australia's licence

CASSANDRA BALDINI  |  WEDNESDAY, 19 JUL 2023
ASIC has cancelled the Australian financial services licence of embattled crypto company FTX. The regulator explained that until 12 July 2024 the company may provide limited financial services that relate to the termination of existing derivatives with ...

Further tightening of monetary policy may be required: RBA

CASSANDRA BALDINI  |  TUESDAY, 18 JUL 2023
The Reserve Bank of Australia (RBA) said the decision to maintain the cash rate at 4.1% was finely balanced with a consideration to hike another 25 basis points. In the July 4 minutes, released this morning, the RBA explained inflation in Australia ...