Citigroup sees sharp falls in net income in 2020
Citigroup made a net income of $11,370m in 2020, a 41% drop from the $19,401m in 2019. In terms of…
JPMorgan wealth unit profit slips in Q4 2020
JPMorgan asset and wealth management (AWM) unit has reported a drop in net income in Q4 2020 though revenues at the unit saw a rise. Meanwhile, the group has reported…
15 Jan 2021
Wells Fargo in talks with GTCR, Reverence for sale of asset management unit
American banking major Wells Fargo is reportedly in discussions to offload its asset management arm to a private equity consortium led by GTCR and Reverence Capital Partners. The deal price…
15 Jan 2021
BlackRock Q4 2020 profit soars as AUM hits record high
BlackRock Q4 2020 results surpassed estimates as AUM reached a record $8.68trn from $7.43trn in the prior year, amid improving global growth prospects and increased market activity. Investors poured money…
15 Jan 2021
Quintet Private Bank appoints group chief operating officer
Quintet Private Bank has appointed Eli Leenaars as group chief operating officer and member of the authorised management committee. Leenaars' appointment has been approved by the European central bank and…
14 Jan 2021
US fintech Luma expands into Europe
Wealthtech Luma Financial Technologies has opened an office in Switzerland and launched in the Europe market. Luma is a multi-issuer structured products platform in the US. It has launched in…
13 Jan 2021
HSBC further bolsters China presence with new fintech subsidiary
British banking major HSBC has set up a fintech subsidiary in Shanghai to scale up its business in mainland China. HSBC Fintech Services (Shanghai) Company Limited is said to be…
13 Jan 2021