US central bankers face an unenviable task when they gather in Washington this week: tackling persistent inflation without adding to financial sector turmoil after Silicon Valley Bank’s (SVB) rapid collapse.
MUCH of the financial world has been watching Credit Suisse Group closely as it flirted with disaster, but few have done so with more worry than the holders of its contingent convertible bonds, also known as CoCos.
SOME of Britain’s biggest financial services companies failed to meet their own targets for female representation in senior management, with Nomura International one of the worst performers among major banks.
CONSULTED by policymakers and able to nudge his peers into action, JPMorgan Chase chief executive officer (CEO) Jamie Dimon played a key role in a bank rescue effort this week – a situation sparking reminders of 2008.
MICHAEL Platt’s BlueCrest Capital Management lost about 7 per cent this year amid market volatility sparked by the collapse of Silicon Valley Bank, according to a person familiar with the matter.
UBS Group is exploring an acquisition of all or parts of Credit Suisse Group at the urging of Swiss regulators after its smaller rival was pummelled by a crisis of confidence, according to people with knowledge of the matter.
INSTITUTIONAL clients of Coinbase Global have been contacted by the firm about plans to potentially set up a new crypto-trading platform overseas, according to three people with direct knowledge of the matter.
FIRST Republic Bank shares tumbled again on Friday (Mar 17), set for their worst week ever, as sentiment around the lender remained fragile even after proposals for US$30 billion of aid from Wall Street’s biggest banks.
SVB Financial Group said on Friday (Mar 17) it planned to seek bankruptcy protection among other restructuring alternatives to seek buyers for its assets, days after its former unit Silicon Valley Bank was taken over by US banking regulators.
