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 »
By Jesús Aguado MADRID (Reuters) -Lower lending income and one-off charges were responsible for a loss of 18 million euros ($20.33 million) at Spanish lender Unicaja in the fourth quarter, despite an increase in fees. In a defensive deal closed at the end of July to protect itself from the pressure of ultra low interest …
Spanish lender Unicaja Q4 books loss on falling lending income Read More »
By Toby Sterling AMSTERDAM (Reuters) -ING Groep NV reported higher-than-expected provisions in its fourth quarter earnings report on Thursday, as the largest Dutch bank braced for the impact of higher inflation on customers. ING reported a 27% rise in fourth-quarter pretax profit to 1.33 billion euros ($1.50 billion), slightly below analyst forecasts of 1.47 billion …
ING shares dip 4% after earnings; provisions rise on inflation worries Read More »
(Reuters) -An Australian court has ordered RI Advice Group Pty Ltd, a former unit of Australia and New Zealand Banking Group, to pay A$6 million ($4.28 million) in penalty for “inappropriately advising clients”, the country’s securities regulator said on Thursday. The action relates to a case where the Australian Securities & Investments Commission (ASIC) alleged …
Former ANZ unit fined $4.3 million for “inappropriately” advising clients Read More »
By Brenna Hughes Neghaiwi ZURICH (Reuters) -Julius Baer remained upbeat on Wednesday about a pickup in client activity despite reporting a slowdown in the latter half of 2021, which raised some concerns about its outlook going forward. Despite reporting 55% full-year profit growth and a significant uplift to proposed shareholder payouts, shares fell 6.1% in …
Julius Baer upbeat on client activity despite slower second half Read More »
ZURICH (Reuters) – UBS Chief Executive Ralph Hamers said on Tuesday he expects to see more local mergers and acquisitions than cross-border consolidation in the European banking industry. “Cross-border mergers in banks have only worked to a certain extent,” Hamers said after the bank’s fourth-quarter results, adding that the capital and liquidity benefits involved had …
UBS CEO expects more local bank consolidation than European deals Read More »
MADRID (Reuters) -Spanish bank Ibercaja has postponed an initial public offering (IPO) because of the volatility in international markets, the bank said on Tuesday in a filing to the Madrid market regulator. Ibercaja’s board “agreed to wait until the markets return to a situation of normality before continuing with its IPO,” the bank said. A …
Spanish bank Ibercaja postpones IPO due to market volatility Read More »
