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Europe needs a fully formed banking union to compete with Wall Street, Deutsche Bank CEO saysEuropean banks desperately need a fully formed banking union to compete with the world's most valuable financial institutions, according to the chief executive of Germany's biggest lender. Hahaha, what DB needs is a lot of cash bgarlinghouse they need ripple net! Magnanimous of Deutsche Bank, whose euro2.4B loss in 4Q17 far exceeds modest profits in '18. Further scrutiny expected from fiscal association w/Trump via Mueller - Deutsche Bank: EU lenders need a fully formed banking union to compete w/Wall St
Source: CNBC - 🏆 12. / 72 Read more »
Wells Fargo seeks investment firm licence from French regulator as part of Brexit strategyWells Fargo & Co. said Tuesday it is seeking an investment firm licence from the French regulator as part of its Brexit strategy. "With Brexit on the horizon, Wells Fargo is committed to providing a transition, which is as seamless as possible, for its markets and investment banking customers within the European Union (EU) and European Economic Area (EEA)," said Alicia Reyes, head of Wells Fargo Securities in Europe, Middle East and Africa. The U.K. decision to leave the European Union is forcing non-U.K. bank to relocate some of their operations to countries that are still in the E.U. as they can no longer have a single licence to operate across the trading block from a U.K. base. The bank said it will make further announcements on its Brexit strategy in the near future. Shares were slightly lower premarket and have fallen 12.3% in 2018, while the S&P 500 has gained 2.9%.
Source: MarketWatch - 🏆 3. / 97 Read more »