Banking sector news

Here are some recent news updates from the banking sector:

Global Banking

  1. HSBC to cut 35,000 jobs: HSBC Holdings, one of the largest banks in the world, announced plans to cut 35,000 jobs, or about 15% of its workforce, as part of a major restructuring effort. (Source: Reuters)
  2. JPMorgan Chase to invest $10 billion in digital transformation: JPMorgan Chase, one of the largest banks in the US, announced plans to invest $10 billion in digital transformation over the next five years, including the development of new technologies and the hiring of thousands of new employees. (Source: CNBC)
  3. Bank of America to acquire ESG-focused investment firm: Bank of America announced plans to acquire ESG-focused investment firm, Trillium Asset Management, in a deal worth $200 million. (Source: Financial Times)

US Banking

  1. Fed approves Wells Fargo's plan to exit wealth management business: The Federal Reserve approved Wells Fargo's plan to exit its wealth management business, which will result in the sale of its wealth management assets to Fidelity Investments. (Source: Bloomberg)
  2. Citigroup to cut 1,000 jobs in cost-cutting effort: Citigroup announced plans to cut 1,000 jobs, or about 2% of its workforce, as part of a cost-cutting effort aimed at reducing expenses by $1.5 billion. (Source: The Wall Street Journal)
  3. US banks to face increased regulatory scrutiny: The US Federal Reserve and other regulatory agencies announced plans to increase scrutiny of the country's largest banks, including JPMorgan Chase, Bank of America, and Wells Fargo, amid concerns over their risk management practices. (Source: The New York Times)

European Banking

  1. Deutsche Bank to cut 18,000 jobs: Deutsche Bank, one of the largest banks in Europe, announced plans to cut 18,000 jobs, or about 20% of its workforce, as part of a major restructuring effort. (Source: Financial Times)
  2. UBS to cut 2,000 jobs: UBS, a Swiss-based bank, announced plans to cut 2,000 jobs, or about 5% of its workforce, as part of a cost-cutting effort aimed at reducing expenses by $1.5 billion. (Source: Bloomberg)
  3. European Central Bank to impose stricter capital requirements: The European Central Bank announced plans to impose stricter capital requirements on European banks, in an effort to reduce risk and increase financial stability. (Source: The Financial Times)

Asia-Pacific Banking

  1. HSBC to cut 1,000 jobs in Hong Kong: HSBC announced plans to cut 1,000 jobs in Hong Kong, or about 10% of its workforce in the region, as part of a cost-cutting effort. (Source: South China Morning Post)
  2. DBS to acquire Indonesian bank: DBS, a Singapore-based bank, announced plans to acquire Indonesian bank, Bank Danamon, in a deal worth $7.4 billion. (Source: The Straits Times)
  3. China's banking regulator to impose stricter regulations: China's banking regulator, the China Banking Regulatory Commission, announced plans to impose stricter regulations on the country's banks, including increased capital requirements and stricter risk management practices. (Source: Xinhua News Agency)

These are just a few examples of recent news updates from the banking sector. If you're looking for more information or specific updates on a particular bank or region, feel free to ask!