Over the past decade, David Chang has built Momofuku from a small ramen bar in Manhattan’s East Village to an eight-restaurant empire with roughly 500 staffers in the U.S., Canada and Australia. Here’s what else he’s done:
Goldman Sachs Group Inc. and the Canada Pension Plan Investment Board are set to invest in holdings from a 2002 fund managed by J.W. Childs Associates LP in a deal valued at $1 billion, said three people with knowledge of the matter.
Paragon Partners GmbH plans to finish raising money for a buyout fund focused on German- speaking Europe at about 400 million euros ($550 million), almost twice the size of its first effort, two people with knowledge of the situation said.
Royal Bank of Scotland Group Plc’s decision to award employees 576 million pounds ($957 million) of bonuses after its largest loss since its bailout risks derailing Chief Executive Officer Ross McEwan’s bid to mend its reputation.
HSBC Holdings Plc, Europe’s largest bank, posted full-year profit that missed analyst estimates as a cost-cutting drive fell short of targets and revenue shrank. The stock slumped in Hong Kong and London.
HSBC Holdings Plc became the first U.K. lender to reveal its plans to sidestep European Union caps on bonus payments for more than 600 senior managers as it awarded Chief Executive Officer Stuart Gulliver 8 million pounds ($13.3 million) in compensation.
Standard Chartered Plc, the U.K. bank that gets about three-quarters of earnings from Asia, is seeking buyers for PrimeCredit Ltd., a Hong Kong consumer finance business, a person with knowledge of the matter said.