(Reuters) – South African insurer Discovery forecast on Friday a higher half-yearly profit, supported by new clients at its health insurance business and adequate provisions to cushion the impact of coronavirus-related claims. The company said its headline earnings, the main profit measure in South Africa, were expected to have grown 70%-80% in the six months …
S.Africa’s Discovery forecasts jump in half-yearly profit Read More »
By Matt Scuffham NEW YORK (Reuters) -Goldman Sachs on Thursday upgraded its key profitability targets and set new goals for its asset management, transaction banking and consumer businesses as it laid out its strategy for the next three years. Wall Street’s premier investment bank is reshaping itself after a turbulent decade during which profit at …
Goldman Sachs lifts targets in bid to win over skeptics Read More »
NEW YORK (Reuters) – Bank of America Chief Executive Officer Brian Moynihan said the bank’s capital markets business “is down” so far in 2022, even as the investment bank continues to see a strong pipeline of customer activity. Speaking at a banking conference, Moynihan also said consumer spending on childcare is again at pre-pandemic levels, …
Bank of America CEO: capital markets business down, but pipelines are full Read More »
(Reuters) -Wells Fargo & Co on Thursday said the bank’s ultimate goal to reach a 15% return on tangible equity may be more achievable as rates grow, even if a $1.95 trillion asset cap which has hindered its growth since 2018 remains in place. The fourth-largest U.S. bank has been in regulators’ penalty box since …
Wells Fargo can reach 15% ROTE goal as rates rise- CFO Read More »
By Michelle Conlin NEW YORK (Reuters) -Private equity firms are increasingly investing in behavioral services for troubled youth, according to a new report released on Thursday by the nonprofit Private Equity Stakeholder Project. Services private equity firms are buying into include those for children with intellectual and developmental disabilities as well as for those enrolled …
Private equity’s latest play: the troubled kids industry Read More »
AMSTERDAM (Reuters) – Dutch insurer NN Group on Thursday announced a 1 billion euros ($1.14 billion) share buyback, as demand for insurance remained strong in the second half of last year, driven by extreme weather and the COVID-19 pandemic. The largest insurer in the Netherlands said favourable business conditions almost doubled its operation capital generation …
Insurer NN Group plans 1 billion euros share buyback as demand remains strong Read More »
By Michelle Price WASHINGTON (Reuters) – U.S. banks this week welcomed a regulatory proposal to incorporate climate change risks into their daily operations, yet said they opposed prescriptive risk management and lending criteria, exposure disclosures and capital penalties. Banks pushed back on the suggestion by President Joe Biden’s administration that they should be required to …
U.S. banks urge regulators to be flexible on climate-risk rules Read More »
By Elizabeth Dilts Marshall NEW YORK (Reuters) -Bank of America Chief Executive Brian Moynihan said on Tuesday that consumer spending has continued to grow so far in February, indicating that the recovery the bank has seen in restaurant and other spending categories is ongoing. “When you look at the core spending levels of consumers, they …
Bank of America’s CEO says consumer spending levels continue to grow Read More »
PARIS (Reuters) – Wall Street bank Goldman Sachs said its Private Wealth Management division had opened up a new office in the high net-worth hub of Monaco as part of broader European expansion plans. Goldman Sachs added it had hired Arnaud Caussin, Thibaut Lambert and Serge Olive to run this new Monaco office. Last month, …
Goldman Sachs Private Wealth Management arm opens new office in Monaco Read More »
By Selena Li HONG KONG (Reuters) – China’s drive for “common prosperity” to ease inequality could be a positive catalyst for the local wealth management industry, as it leads to expansion of the middle-income group and healthy development of capital markets, according to a UBS report. The wealth management market in the world’s second-largest economy …
China’s ‘common prosperity’ drive positive for wealth management industry – UBS Read More »
