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DBS chief Piyush Gupta’s annual salary rises 13.2% to S$15.4 million in 2022

DBS chief executive Piyush Gupta’s annual salary grew in line with the bank’s earnings over 2022, as Singapore’s largest lender logged record net profits for both the latest fourth quarter and full-year period.

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Nomura cuts entertainment budget as rising costs hurt profit

NOMURA Holdings slashed its entertainment budget for executives, people familiar with the matter said, as it stepped up efforts to rein in costs after some tough-going quarters.

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Lehman Brothers loses bid to collect on crisis-era swaps

THE husk of Lehman Brothers lost a bid to collect some US$500 million on crisis-era subprime mortgage bond trades on Wednesday (Mar 8) when it suffered defeat in a trial over the proper valuation of credit default swaps.

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US crypto caution adds a hurdle to Silvergate’s rescue effort

ANYONE working with US regulators to salvage Silvergate Capital, the crypto-friendly bank, will have to reckon with a key variable — the wariness of those same officials about digital assets.

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Citigroup to ‘recalibrate’ investment banking headcount as needed

CITIGROUP chief financial officer Mark Mason said his firm will adjust headcount in its investment banking division as necessary as it continues to look for ways to boost profits.

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Silvergate slides on plan to wind down bank operations and liquidate

SILVERGATE Capital plans to wind down operations and liquidate its bank after the crypto industry’s meltdown sapped the company’s financial strength. The shares plunged more than 50 per cent.

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Axa Investment registers as crypto service provider in France

FRENCH market regulator AMF said Axa Investment Managers had registered as a crypto service provider in the country, joining a list of several financial firms getting regulatory approvals to avoid service disruption in France.

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Binance.US gets judge’s approval to buy Voyager Digital despite regulator objections

VOYAGER Digital won court approval to sell itself to Binance.US, the US arm of the world’s biggest crypto exchange, after four days of contentious bankruptcy hearings in which state and federal regulators joined a handful of investors in opposing the approximately US$1 billion deal.

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Record private-credit deal may allow 50% of interest deferred

THE largest-ever buyout financing arranged by private credit firms would allow healthcare technology company Cotiviti to pay a whopping 50 per cent of the interest on a US$5.5 billion loan with additional debt.

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China’s yuan weakens to 2-month low, with key 7-per-dollar level in sight

CHINA’S yuan weakened to a more than two-month low against the dollar in early trade on Wednesday, approaching the threshold of 7 per dollar, as Federal Reserve Chair Jerome Powell’s hawkish rhetoric on US interest rates lifted greenback broadly.

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