Bank of the First Republic FRC -3.74% has paid family members of its founder, James Herbert, millions of dollars for work at the lender in recent years, including for interest rate and risk advisory services, according to public disclosures made by the bank as part of the annual deposits. The bank paid Mr. Herbert, who … Read more
One option would be to buy all of Credit Suisse and then turn its local Swiss operations into an independent entity, the sources said. UBS would retain Credit Suisse’s valuable wealth management business. Discussions are ongoing and the contours of the deal could still change as UBS and Swiss regulators flesh out the details of … Read more
The deal could be completed on Sunday if not earlier, the people said. Regulators have offered to waive the usual shareholder voting requirement to speed up the sale, one of the people said. Discussions were quick and a remaining sticking point was the ownership status of the major Swiss retail arm of Credit Suisse, the … Read more
Swiss regulators said they would provide liquidity to Credit Suisse Group HER if necessary, offering a lifeline to the lender hard hit by concerns over its financial health. Investor confidence in Credit Suisse plummeted on Wednesday, sparking fears that a banking crisis centered on U.S. regional banks has spread across the Atlantic and is poised … Read more
The UK government said on Sunday it was working on a lifeline for companies that had deposits blocked at the UK branch of Silicon Valley Bank following the collapse of its US parent company. In a statement, the UK Treasury said it wanted to “avoid or minimize damage to some of our most promising businesses”, … Read more
LONDON — Barclays PLC’s profits fell in the fourth quarter from a year earlier as a slowdown in transactions and fundraising for corporate clients dampened its investment bank. The British banking giant disappointed investors by missing forecasts of a key earnings measure and giving a disappointing outlook for the year ahead, helping to send its … Read more
New York regulators have ordered a crypto firm to stop issuing one of the largest dollar-pegged cryptocurrencies amid widening government crackdown on the sector. The New York Department of Financial Services has ordered Paxos Trust Co., which issues and lists Binance’s dollar-pegged cryptocurrency, to stop creating more of its BUSD token, Binance said in a … Read more