The Bank of England’s executive director for financial stability, Andrew Haldane, said the biggest global risk is a jump in bond yields that might happen for reasons beyond the unwinding of central-bank policy.
Royal Bank of Canada, the country’s largest lender by assets, will consider acquisitions of as much as C$5 billion ($4.9 billion) as it seeks to expand its wealth- management unit, Chief Financial Officer Janice Fukakusa said.
Lloyds Banking Group Plc, Britain’s biggest mortgage lender, agreed to sell its international private-banking business to Swiss wealth manager Union Bancaire Privee for as much as 100 million pounds ($151 million) in cash.
The U.K.’s Prudential Regulation Authority is aiming to tell all lenders their individual share of a 25 billion-pound ($37.8 billion) capital shortfall by the end of June, according to a senior bank supervisor.
Lloyds Banking Group Plc and Royal Bank of Scotland Plc, Britain’s two biggest state-owned lenders, won’t have to raise additional equity to help plug a 25 billion- pound ($38 billion) capital shortfall among the country’s banks.
Scotland’s four largest money managers, who oversee almost $1 trillion between them, increased their assets by 7.4 percent in the first three months of 2013, the biggest quarterly increase in at least a year.
Lloyds Banking Group Plc, the U.K.’s biggest mortgage lender, may reap about 800 million pounds ($1.2 billion) from selling fund-management unit Scottish Widows Investment Partnership, Numis Corp. said.
Jupiter Fund Management Plc, the U.K. money manager run by Edward Bonham Carter that specializes in selling U.K. equity funds to individual investors, said it hired James Clunie from Scottish Widows Investment Partnership to manage absolute return funds for its clients.