Financing web threatens HSBC China deal

 January 13, 2013

Even by the Byzantine standards of business deals in China, the twists and turns in the potential collapse of HSBC’s $9.4bn exit from its stake in Ping An Insurance are exceedingly complex. But the ultimate reason that threw the sale in doubt may be quite simple. The most plausible explanation is a change of heart […]

Can penalties control banks?

 January 01, 2013

UBS to pay $1.5 billion over Libor manipulation, HSBC paid $1.92 billion for failing to stop money laundering, Standard Chartered paid $667 million, ING, $619 million, Credit Suisse, $536 million, ABN AMRO $500 million and the list goes on and on. While the number of fines imposed on banks has remained constant over the past […]

Monaco trustee must pay $25m

 October 09, 2010

A MONACO-BASED businessman, who acted as a trustee for Caribbean-based companies that regularly bought and sold shares in Australia, has been ordered to pay about $25 million in tax and penalties on the proceeds of his clients’ deals. Norman Leighton, who owns an international trust administration business called Leighton & Leighton based in Monaco, administered […]

ING Bank (Switzerland) merged into Bank Julius Baer

 March 02, 2010

As a result of the merger ING Bank (Switzerland) Ltd (“ING Bank”) has been fully absorbed by Bank Julius Baer & Co. Ltd. (“Bank Julius Baer”). This means that Bank Julius Baer has assumed the business of ING Bank and will continue the business operations under its own name. The technical migration of ING Bank’s […]

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