More focus on keeping a client happy than keeping the bank solvent; a risk management department that wasn’t tough enough and enabled bad practice; a willful reduction in margin; and two co-heads who each believed the other ran the relevant business. The report into Credit Suisse’s Archegos debacle makes grim reading.
It is the deal everyone was waiting for – but UniCredit CEO Andrea Orcel has to appear guarded, as he enters exclusive negotiations with Banca Monte dei Paschi di Siena.
The Swiss bank claims a resilient performance lies beneath the meagre returns after de-risking post-Archegos and Greensill, but big questions remain.
We are at the peak of the hype cycle for central bank digital currencies, now being touted as one of the most fundamental innovations in the history of central banking. It is time for central banks and governments to be honest with unenthused populations.
Non-resident Indians are a powerful force in wealth management from New York to Singapore. But as the pandemic devastates the subcontinent, this vast diaspora is reassessing its priorities.
What They Said
Guaranty Trust Bank’s chief executive Segun Agbaje is confident what to expect in the next five years
Chief executive Bruce Van Saun highlights the benefits of Citizens’ forward-looking agenda
Uche Orji, chief executive of the Nigeria Sovereign Investment Authority, looks to the Singaporean SWFs
Antony Welfare, executive director at blockchain company NEM, sees CBDC as part of rebuilding the system