Monday, 25 March 2019

Bank strategy and results

UBS warns of bleak Q1

IFR 2276 23 March to 29 March 2019

UBS’s investment banking revenues have plunged this quarter, which the Swiss bank blamed on some of the toughest market conditions in years and prompted it to slow hiring and cut an extra US$300m in costs this year.

CLSA departures expose Citic rift

CLSA board exits expose Citic rift

IFR 2276 23 March to 29 March 2019

CLSA chief executive Jonathan Slone has quit only weeks after the Chinese-owned investment bank’s chairman Tang Zhenyi also stood down, raising questions about the ability of parent Citic Securities to build out a rival to global banks.

DBS plots India expansion

IFR 2276 23 March to 29 March 2019

DBS Group is aiming to treble its balance sheet in India over the next five years its local chief executive told IFR, shortly after announcing the launch of the bank’s subsidiary.

Citi sees Q1 trading down

IFR 2275 16 March to 22 March 2019

The first quarter is shaping up to be a wash-out for fixed income, currency and commodities trading, and Citigroup added to the chorus of banks saying a rebound from December’s gloom has been appreciable, but not enough.