FILE PHOTO: People walk past a Citibank branch in New York. REUTERS/Andrew Kelly/File Photo
SINGAPORE/HONG KONG: Banks including DBS Group, Mitsubishi UFJ Financial Group (MUFG), OCBC and Standard Chartered are set to bid for parts of Citigroup s consumer business in Asia, people with direct knowledge of the matter told Reuters.
The sale process will start within a couple of weeks, the people added, declining to be named as they were not authorised to speak to media.
The move comes after Citi said that it would exit from its consumer franchises in 13 markets, 10 of which are in Asia, as it refocuses on its more lucrative institutional and wealth management businesses in these markets.
MUFG Investor Services, the global asset servicing arm of Mitsubishi UFJ Financial Group, today announced the launch of its private markets ESG reporting solution, the second announcement in a series
MUFG Bank to rebuild headquarters in Tokyo, consolidating group functions Sorry, but your browser needs Javascript to use this site. If you re not sure how to activate it, please refer to this site: https://www.enable-javascript.com/
MUFG Bank plans to rebuild its headquarters in Tokyo for the first time in some 40 years. | KYODO
JIJI Apr 6, 2021
MUFG Bank plans to rebuild its headquarters building in the Marunouchi business district of Tokyo for the first time in some 40 years, President and CEO Junichi Hanzawa said in a recent interview.
The bank hopes to consolidate the headquarters functions of group banks and a group securities firm at the new building, according to Hanzawa.
Celebrated Allianz economist points to GameStop and hedge fund debacles as potential market torpedoes.
Mohamed El-Erian customarily is not an alarmist. But he notes that the Archegos Capital Management mess is “the third near-accident this year so far.” Meaning something that could’ve trashed the entire financial system.
To El-Erian, Allianz’s chief economic adviser, the collapse of family office Archegos Capital Management is a “one-off,” but it may lead to a tightening of credit as banks become more cautious.
On the plus side, he doesn’t detect a “fast-moving contagion” that will tank the entire stock market, and contended in a Yahoo Finance video appearance that “for now, it looks contained.”
Read more about Japan gathering information on Nomura, MUFG losses linked to US client on Business Standard. Japan is looking into the financial losses incurred by MUFG and Nomura through deals related to an unnamed US client, and will gather and share information on the matter with the Bank of Japan