Italy's insurance watchdog has told life insurer Eurovita to quickly boost its capital reserves by around 250 million euros ($250 million), prompting its owner British private equity firm Cinven to seek a sale, sources said.
Goldman Sachs has laid off at least 25 bankers in Asia, Bloomberg News reported on Tuesday citing people familiar with the matter, as volatility in capital markets stifles dealmaking across sectors.
Wealth manager AMP Ltd was handed a penalty of A$14.5 million ($9.74 million) on Tuesday by Australia's Federal court for charging customers with 'fees for no service' on their corporate pension accounts.
The boardrooms of banks, fintech firms, insurers and asset managers in Germany are the least gender-diverse in Europe, according to data shared with Reuters by consultants EY.
The Inter-American Development Bank's board on Monday reviewed an independent report showing evidence of some allegations made by a whistleblower against the bank's chief, Mauricio Claver-Carone, according to a source with knowledge of the matter.
The number of Chinese millionaires is expected to double by 2026, according to a report by Credit Suisse issued on Tuesday, despite Beijing's national drive to ease wealth inequality and a sharply slowing economy.
Italy's antitrust said on Tuesday it had launched an inquiry into Intesa Sanpaolo over an alleged unfair commercial practice while marketing real estate mortgages for clients at fixed and variable rates.
UniCredit is eyeing acquisitions in Germany as part of plans by Italy's second-biggest bank to become a fully developed European bank, Chief Executive Andrea Orcel told German daily Handelsblatt on Tuesday.
Credit Suisse Brazilian unit has reduced the size of its wealth management division, the bank said in a statement on Monday. One source with knowledge of the matter said the bank has dismissed 21 employees last week.
