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Latest Headlines
Carlyle To Acquire Silverton Bank
Private-equity firm Carlyle Group and a group of investors are in talks to acquire failed Atlanta-based Silverton Bank, known as "bank of banks" that served small financial institutions throughout the US.
Temecula Valley Bancorp To Get $210m Capital From Bancroft Capital
Temecula Valley Bancorp inks a non-binding letter of intent with Bancroft Capital for cash investment of up to $210 million.
JPMorgan To Raise $5b To Satisfy TARP Repayment Condition
JPMorgan Chase expects to have tier one capital of approximately $118 billion and fully redeem the $25 billion of TARP preferred capital before June end.
Morgan Stanley, Citi Complete Smith Barney Transaction
Morgan Stanley, in partnership with Citigroup, is launching a new brokerage firm, Morgan Stanley Smith Barney.
Goldman Sachs To Sell ICBC Stake For $1.92b
Under a revised agreement with ICBC, Goldman Sachs is going to sell its entire stake to repay the $10 billion capital injection it owes to the US government.
CNBF To Discuss Unsolicited Acquisition Proposals
Massachusetts-based CNB Financial Corp (CNBF) has announced that it plans to commence discussions with United Financial Bancorp (UFB), the holding company for United Bank, regarding UFB’s unsolicited acquisition proposal. The latter has offered to acquire each outstanding share of CNBF for $10.25 per share in a transaction consisting of an equal amount of stock and cash, subject to elections by the shareholders.
Citibank Launches Online Tax Payment Solution In Malaysia
Kuala Lumpur-based Citibank Berhad and Lembaga Hasil Dalam Negeri Malaysia (LHDNM) have launched CitiConnectSM e-Tax, an online payment solution that enables companies to settle their tax payments to LHDNM, the sole tax authority in Malaysia entitled to collect income taxes on behalf of the Government. For Citi, this new service complements its existing EPF e-Contribution alliance, which is currently available in Malaysia.
Nomura Adopts Western Style Bonuses
Kenichi Watanabe, CEO of Nomura, has declared that the Japanese banking major has succeeded in persuading more than half of its 1,600 investment bank staff to sign contracts that are akin to volatile western banks such as Lehman Bros. According to the new contracts, the staff gets decreased basic pay and it becomes very easy to discard them, in exchange for potentially higher performance-related bonuses.
Wells Fargo Against Emerique's Offer To Acquire Hartmarx
The group of banks led by Wells Fargo as agent, which has provided credit to Hartmarx Corp., has announced that it would oppose Emerisque’s offer to acquire Hartmarx that has been in Chapter 11 since the beginning of this year and has been unable to repay more than $114 million that it owes the bank group.
Deutsche Bank Extends Association With deVere And Partners
After successfully completing two years of association, Deutsche Bank has committed to the extension of the alliance with UK-based deVere Group through the roll out of a series of new proprietary growth products.
Nedbank In Talks To Buy Imperial’s South African Banking Unit
Johannesburg-based Nedbank Group, South Africa’s fourth-largest lender controlled by Old Mutual Plc, is in talks with Imperial Holdings to buy 50% stake in smaller asset-based financing firm Imperial Bank that it does not own.
Fortress To Enter Into Retail Banking
Credit Suisse Seeks To Sell Non-Core Assets
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