The former head of Banco Espírito Santo’s investment arm, José Maria Ricciardi, talks to Stefania Palma about the parent bank’s turbulent last days and how he hopes to exploit its established European network in his new position as the chief executive of Haitong Bank.
The UK’s relationship with the EU may be coming to an end, with British people voting on whether to leave the bloc on June 23. Silvia Pavoni looks into the uneasy alliance, the financial regulation that clouds the picture and the prospects for the City of London outside the single market.
The UK regulator has proposed rules that would enable a former employer to refuse deferred bonus payments or claw back the bonuses of former employees accused of misconduct or mismanagement. Gary Freer of law firm Bryan Cave looks at the hurdles these rules will have to clear.
UK fraud investigators have realised that banks are well placed to identify illicit financial activity and have set up a partnership with major European financial institutions to share information about money laundering and terrorist financing. But how motivated are the banks to participate?
An initial public offering by Clydesdale Bank in February will see the lender – currently owned by National Australia Bank – independently managed from its home market of Scotland. This will, say its senior staff, help it to focus on its positions of strength, such as SME funding and agriculture.