CANADA’S Manulife Financial plans at least two more top-tier hires in China this month as it targets the pensions business in the fast-ageing society after taking full control of a joint venture, senior executives said.
UBS Group cut employee bonuses for 2022 by 10 per cent after its revenue declined on a slump in mergers and capital raising. But its chief executive received a boost as his bonus jumped 11 per cent year on year.
AUSTRALIA’S central bank is set to raise interest rates for a 10th straight meeting on Tuesday (Mar 7), with policymakers facing a complex messaging task for an outlook of slower economic growth and still-elevated inflation.
HARRIS Associates sold its entire stake in Credit Suisse Group, according to the Financial Times (FT), ending ties with the firm after about two decades of ownership and piling further pressure on the Swiss bank’s leadership.
IN A bid to meet customers across as many platforms as possible, banks are investing heavily in technology. OCBC, Singapore’s second-largest locally listed bank by market capitalisation, is no different.
UNITED Overseas Bank (UOB) has got itself in a bit of a pickle after reports emerged that it is part of a consortium of banks that refinanced a US$350 million loan to a subsidiary of coal miner Adaro Energy Indonesia.
COMPANIES are taking advantage of price discrepancies in debt and derivatives markets that give them a way to trim their borrowing costs. Investors eager to take advantage of rising interest rates are buying the debt even if they only earn the extra yield for a year.
DALLAS Federal Reserve President Lorie Logan said on Friday (Mar 3) the US government bond market remains vulnerable to significant shocks that could cause broader damage, adding that government authorities must push ahead with efforts to shore up the financial system.
FORMER Goldman Sachs Group banker Tim Leissner, who pleaded guilty to participating in the massive 1MDB foreign bribery fraud, was ordered to forfeit US$43.7 million in cash as well as all 3.3 million shares in fitness drink company Celsius Holdings.
