Private Banking
Santander unveils new D2C execution only investment platform
Santander, one of Britain’s largest retail banks, has launched a direct-to-consumer platform for new and existing clients in the UK as part of a wider move to expand its face-to-face advice service.
Two Swiss private banks agree deal to build global giant
Zurich-based private bank, EFG International, has agreed a deal with Brazilian bank BTG Pactual to buy its Lugarno-based private banking unit BSI, one of the oldest Swiss banks, for about CHF1.33bn ($1.34 bn, £940m) in cash and stock.
Abu Dhabi’s ADCB launches regionally focused private bank
Abu Dhabi Commercial Bank (ADCB) has launched a new private bank aimed at providing wealthy clients in the Gulf region with sophisticated banking and wealth management services.
Julius Baer admits US tax evasion, pays $547m
Swiss private bank Julius Baer said it has reached a deal with the US Department of Justice to pay $547m to settle tax evasion allegations, and at the same time two former Julius Baer bankers pleaded guilty to helping American clients dodge taxes.
Credit Suisse slumps after big 2015 net loss
Shares in Credit Suisse fell nearly 12% on Thursday after the bank reported worse-than-expected 2015 results, which included hefty net asset outflows in the final quarter.