Christopher Wheeler News
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Deutsche Bank AG, continental Europe’s biggest bank, is asking investors to replace three non- bankers supervising its executives with finance and legal experts after litigation-related costs eroded profit last year.
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UBS AG, Switzerland’s biggest bank, reported first-quarter earnings that beat analyst estimates on higher revenues at the investment bank and in wealth management.
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Credit Suisse Group AG, Switzerland’s second-largest bank, named Marisa Drew and Ewen Stevenson as co- heads of European investment banking to replace Jamie Welch, who will leave to join a client.
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UBS AG, Deutsche Bank AG and Lloyds Banking Group Plc posted profit that topped analysts’ estimates in a sign Europe’s largest lenders are rebounding from the financial crisis after years of job cuts, loan losses and capital raising.
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Lloyds Banking Group Plc, Britain’s biggest mortgage lender, may signal the end of an era of surging loan impairments and provisions for improperly sold insurance when it reports first-quarter earnings this week.
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Landesbank Berlin AG, a German regional lender, became the sixth bank this year to stop contributing to the panel setting Euribor, adding to an exodus that includes UBS AG and Rabobank Groep.
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When UBS AG wealth manager Abdallah Najia came to Switzerland from Dubai in March for a week of training, he was as stunned by the message as by the scenery.
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Barclays Plc is reaping the benefit of ex-Chief Executive Officer Robert Diamond’s decision to buy Lehman Brothers Holdings Inc.’s North American unit, as the division helped to push equities revenue up 19 percent.
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Credit Suisse Group AG will probably post higher profit than UBS AG for a fourth straight quarter when the largest Swiss banks report results over the next week.
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Deutsche Bank AG’s announcement yesterday that earnings will suffer this quarter added to a cacophony of negative news over the past two weeks that’s increasing pressure on the company’s new leadership.
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