Mustier has been credited with turning around the biggest Italian bank through major restructuring in the past three years, including cost cuts, dumping bad debts and shrinking the bank’s international presence.
The move is a few days after the new chief executive formally took charge of SoftBank-controlled WeWork. Earlier in February, WeWork named Mathrani as its CEO. [nL1N2A1074]
In a highly critical report, FINMA said there had been scores of failings at Switzerland’s third-largest listed bank, such as its acceptance of a 70 million Swiss franc ($71 million) transfer for a Venezuelan customer in 2014 despite knowing he was accused of corruption.
DUBLIN (Reuters) – Mastercard Inc plans to hire 1,500 more staff in Dublin over the…
The prosecutor’s office in Nanterre, on the outskirts of Paris, had since last year been looking into a party Ghosn had thrown for his wife at the sumptuous Versailles palace among other financial dealings.
BlackRock has accelerated its investment in the region as a strategic priority over the last two years and now runs more than $1 trillion there, “making us the largest independent asset manager on the Continent,” Rachel Lord, its head of Europe, Middle East and Africa, said in the memo.
He said HSBC has modelled several scenarios for the impact of the virus on its business, and in the more extreme of those in which it carries on, the lender would have to assume bad loans rising to that amount.
In the latest in a series of overhauls since the 2008 financial crisis, HSBC said it would merge its private banking and wealth businesses, axe European stock trading and cut U.S. retail branches as it seeks to remove $4.5 billion in costs.
The bank said it is also targeting net zero emissions from its own network of branches and offices by 2030.
Accor, which runs high-end chains such as Raffles and Sofitel as well as budget brands such as Ibis, has a 64 million loyal members base under the ALL-Accor Live Limitless program.
Esteves, also the bank’s biggest shareholder, will discuss Brazil’s economic and political outlook before an audience of roughly 3,000 businessmen, investors and clients.
NMC, the United Arab Emirates’ largest private healthcare company, has been thrown into turmoil in the past month by doubts over its finances and the reporting of shareholdings of some its main owners including Shetty.