Tag: BNKS1
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First Citizens sues HSBC for hiring away Silicon Valley Bank staff
May 22 (Reuters) – First Citizens BancShares Inc (FCNCA.O), which acquired Silicon Valley Bank following its collapse, sued HSBC Holdings PLC (HSBA.L) on Monday, accusing it of poaching more than 40 of the failed bank’s employees in order to launch its own U.S. venture banking business. The lawsuit filed in San Francisco federal court says ... -
Analysis: Private equity steps up lending as US banks pull back
NEW YORK, May 22 (Reuters) – The turmoil facing U.S. regional banks has prompted some lenders to step back, leaving space for investors such as asset managers, private equity (PE) funds and insurers to lend more. Non-bank lenders with deep pockets have invested in credit assets for years, but the regional banking crisis could supercharge ... -
Fed’s Bowman backs ‘targeted’ bank rules reform but not ‘radical’ change
May 19 – Federal Reserve Governor Michelle Bowman on Friday repeated her call for the U.S. central bank to hire an outside party to analyze the collapse of Silicon Valley Bank, and against using that failure as a “pretext” for making broad changes to bank regulation. “We should consider whether there are necessary – and ... -
Analysis: Investment banking faultlines trigger European job shake-up
[1/2] The logo of Credit Suisse is pictured on a building near the Hallenstadion where took place the Annual General Meeting, two weeks after being bought by rival UBS in a government-brokered rescue, in… Read more Rival banks pursue unexpected chance to recruit top talent Unsettled by crisis, bankers seeking greater job security Finance firms ... -
Analysis: US debt ceiling deal could stall safety flight fueling megacap rally
NEW YORK, May 19 (Reuters) – A potential deal to lift the U.S. debt ceiling could spur money managers to pare holdings in the massive technology and growth stocks that have been havens this year and shift into the rest of the market, some investors believe. Strong balance sheets and predictable cash flows have made ... -
US banks rethink social media as a threat, not a marketing tool
NEW YORK, May 18 (Reuters) – Bankers are beefing up risk management, monitoring and emergency procedures around the use of social media after an internet-fueled run toppled Silicon Valley Bank two months ago and sparked turmoil in the industry. In board rooms across the United States, executives are devising programs and plans to counteract online ... -
US regional bank shares rally after Western Alliance reports deposit growth
May 17 (Reuters) – Shares of U.S. regional lenders jumped on Wednesday on growing investor confidence that the worst of the banking crisis was likely over, following news of strong deposit growth at Western Alliance Bancorp (WAL.N). Deposits at Western Alliance grew by more than $2 billion in the three months to May 12, the ... -
Swiss parliament to investigate Credit Suisse collapse
[1/2] A logo of Swiss bank UBS is seen in Zurich, Switzerland March 29, 2023. REUTERS/Denis Balibouse/ ZURICH, May 17 (Reuters) – Credit Suisse’s (CSGN.S) collapse and its takeover by UBS (UBSG.S) will be investigated by a parliamentary commission (PUK), the office of Switzerland’s upper house of parliament said on Wednesday. The move comes after ... -
Most Gulf markets gain as investors shrug off US debt-ceiling talks
May 17 (Reuters) – Most stock markets in the Gulf ended higher on Wednesday as investors shrugged off concerns around the U.S. government’s debt-ceiling negotiations. U.S. President Joe Biden and Republican House of Representatives Speaker Kevin McCarthy on Monday prepared for the critical debt-ceiling talks, with a little more than two weeks to go before ... -
Analysis: Australian banks’ bid to shake mortgage reliance brings new risks
SYDNEY, May 16 (Reuters) – Australia’s big banks are pivoting to what analysts say could be a risky fight for growth in the country’s unloved business loans market as a price war ends a decade-long profit bonanza in the mortgage sector. The country’s four largest lenders said this month they would redirect capital and staff ...
