CAIRO (Reuters) – Egypt plans to sign a funding programme for 2022 with the International Islamic Trade Finance Corporation(ITFC) this month, Egypt’s Ministry of Planning and Economic Development said on Monday. One of the most important features of this year’s funding programme is the cooperation to support and develop medium, small, and micro enterprises sector …
Egypt to sign 2022 funding programme with ITFC in Feb Read More »
SAO PAULO (Reuters) – Morgan Stanley on Friday named Alessandro Zema as co-head of investment banking in Latin America, a post he will share with Jaime Martinez-Negrete, according to a statement. Zema will remain as Brazil country head, while managing director Fabio Medeiros will take up a role as the local investment banking head. Marilia …
Morgan Stanley names Zema co-head of Latam investment banking Read More »
By Saqib Iqbal Ahmed NEW YORK (Reuters) – Ark Invest’s Cathie Wood is taking another stab at investing in “disruptive innovation,” this time through a new fund that will target illiquid securities including those of private companies, a regulatory filing on Thursday showed. Wood, known for managing ARK Innovation, the firm’s flagship exchange-traded fund, filed …
Cathie Wood’s new fund to invest in disruptive tech in private markets Read More »
By Valentina Za MILAN (Reuters) -Italy’s biggest bank Intesa Sanpaolo dashed market hopes it could match rival UniCredit and return all additional profits to investors in coming years, saying it had to first to tackle challenges for its business. Under a new plan to 2025 unveiled on Friday, Europe’s eighth-largest bank by assets said it …
Intesa sets $25 billion payout goal and grasps digital challenge Read More »
ZURICH (Reuters) – Credit Suisse has signed a deal with Barclays to take on rich clients in parts of Africa after it decided to exit wealth management in nine countries, the Swiss bank said on Friday, confirming an earlier Bloomberg report. “Credit Suisse has signed a private banking client referral agreement with Barclays as part …
Credit Suisse refers some African wealth management clients to Barclays Read More »
By Hadeel Al Sayegh DUBAI (Reuters) – Faced with deal fees in the Gulf region a fraction of those in markets elsewhere, many Dubai bankers are handing in their notices, attracted by the lure of cashing out, stock options and share grants at startups. Veteran investment banker Omar Abuinnab is one of them. He left …
Chasing sky-high valuations, Dubai bankers switch to tech sector Read More »
By Svea Herbst-Bayliss (Reuters) -Sculptor Capital Management said on Thursday that a board member resigned in protest over the pay package the hedge fund firm plans to award its chief executive officer James Levin. Morgan Rutman, who has been a director since 2019, said he was leaving amid governance failures illustrated by the board’s decision …
Sculptor Capital director quits hedge fund in protest over CEO pay Read More »
By Svea Herbst-Bayliss BOSTON (Reuters) – Hedge fund Scopia Capital Management on Thursday said it now owns a bigger stake in Verra Mobility Corp and plans to keep close tabs on the technology company’s strategy only weeks after it handed a board seat to another activist investor. New York-based Scopia, already one of Verra Mobility’s …
Scopia boosts stake in Verra Mobility after company adds another activist to board Read More »
By Anne Kauranen HELSINKI (Reuters) – Nordea Bank unveiled more ambitious profitability targets on Thursday but the Nordic region’s biggest lender also said it expects costs to rise this year. The Helsinki-based bank is now aiming for a return on equity (RoE) above 13% for 2025 and raised its 2022 target to above 11% from …
Nordea expects higher 2022 costs but better profitability Read More »
By Nikolaj Skydsgaard COPENHAGEN (Reuters) – Danske Bank on Thursday maintained its 2023 profitability target and said it expected to increase profits this year, but uncertainty over dividend payments brought potential money laundering fines back in focus. Denmark’s biggest lender has been dogged by a money laundering scandal since 2018 in its former Estonia branch, …
Danske Bank dividend policy brings Estonia case back in spotlight Read More »
