Latest Banking News
Bank of America acquires card technology from Works
Bank of America has acquired the commercial card technology and related business of Works Inc, an Austin, Texas-based firm. Terms of the transaction were not disclosed.
Published: 19-Oct-2005
Barclays launches new advertising campaign
Barclays is to launch a new advertising campaign designed to highlight the creativity of its staff. The campaign will run with the tagline "Barclays, now there's a thought", and is intended to make the bank appear more accessible to the public.
Published: 18-Oct-2005
ING strengthens Record Bank with Eural acquisition
ING's Belgian operation is to acquire savings and investment bank Eural from Dexia. Eural will be merged with ING Belgium's existing Record Bank arm over the course of 2006.
Published: 17-Oct-2005
Fortis' wealth management arm opens new Dubai branch
Benelux-based financial services group Fortis was recently granted a banking license in the UAE, allowing its private banking division to offer its middle east and southeast Asian clients a complete range of wealth management services through a new Dubai branch of its Swiss subsidiary, Banque MeesPierson.
Published: 17-Oct-2005
Axalto supplies MasterCard PayPass cards to KeyBank
As part of the ongoing establishment of 'contactless' payment cards in the US, Axalto, an international provider of microprocessor cards, has formed an agreement to supply more than two million MasterCard PayPass cards to online bank KeyBank.
Published: 14-Oct-2005
Bank of America to sell its asset management business in Mexico
Bank of America has agreed to sell its asset management business in Mexico to Grupo Financiero Santander Serfin, the Mexico subsidiary of Madrid-based Grupo Santander. The business, which currently has approximately $1.8 billion in assets under management, is comprised of wealth management and mutual fund operations.
Published: 14-Oct-2005
Ex-Refco boss charged with fraud
Phillip Bennett, the UK-born former CEO of the futures and derivatives trading firm Refco, has been arrested and charged with fraud by authorities in New York. The move follows the disclosure that he had hidden debts of $430 million prior to Refco's recent IPO.
Published: 13-Oct-2005
JP Morgan in talks to buy Liaoning Securities
Major US bank JP Morgan is reportedly in talks to acquire the struggling Chinese brokerage firm Liaoning Securities.
Published: 13-Oct-2005
Prudential set to confirm retention of Egg
UK insurance group Prudential looks set to undertake a significant u-turn by announcing that it is to retain its 79% stake in the online bank Egg.
Published: 12-Oct-2005
ABN Amro expands socially responsible investing
Following the successful establishment of its sustainable sector funding in Sweden and Brazil, ABN Amro Asset Management has revealed plans to re-open the issuance of shares in its Green Fund to expand the geographical reach of the program.
Published: 12-Oct-2005
