HSBC promotes Georges Elhedery to chief executive – Financial Times
Get your free copy of Editor’s Digest FT editor Roula Khalaf picks her favourite stories in this weekly newsletter. HSBC has appointed Georges ElHedery as chief executive officer, entrusting an insider with the difficult task of running the bank amid rising tensions between the West and China. HSBC said on Wednesday that El Hedery, who […]
Deutsche Bank criticized by German regulator for financial reporting error – CNBC
Deutsche Bank General Meeting Arne Dedert | Picture Alliance | Getty Images Deutsche Bank misdisclosed deferred tax assets in its 2019 financial statements and failed to meet international accounting standards, Germany’s financial supervisory authority (BaFin) said on Tuesday. “The declaration of deferred tax assets in the consolidated financial statements was incomplete,” the regulator, known as […]
Eastern Bank lands a new chief financial officer, completes Cambridge Trust acquisition – The Boston Globe
It’s important to be good. Sometimes it’s even better to be lucky. That’s why Bob Rivers of Eastern Bank That might explain how the bank brought on board its new chief financial officer, David Rosato. Boston-based Eastern Bank has been working with headhunting firm Korn Ferry for about a year to find a successor to […]
Almost half of Gen Z rely on parental financial help: Report
The vast majority of Zoomers are supported by subsidies from their families. A staggering 46% of Gen Zers rely on extended family for financial help, according to a new survey released this week by Bank of America. “Parent TrapEarlier this year, research firm Gen Z Research Center surveyed more than 1,000 Gen Zers (currently defined […]
The presidential election shouldn't influence how you invest, financial experts say – CNBC
US President Joe Biden and former US President and Republican presidential candidate Donald Trump participate in the first presidential debate for the 2024 election at CNN Studios in Atlanta, Georgia on June 27, 2024. Andrew Caballero Reynolds | AFP | Getty Images Betterment polled 1,200 retail investors this spring across four demographic groups: Gen Z, […]
Nearly 1 in 4 55-year-olds will need financial support from family after retiring: Survey
The story at a glance A new survey finds that 24% of Americans age 55 expect to need financial support from family members after retirement, and 21% expect to need housing assistance. Two-thirds of respondents in that age group said they were worried about running out of savings. The survey found that the median retirement […]
Nearly half of Gen Z rely on financial help from parents, family: BofA survey
TikTok star Taylor Price shares why she started helping younger people manage their money and her best tips for achieving financial freedom. New Research Bank of America Surveys have found that nearly half of Gen Z adults rely on financial support from their parents or other family members to get by. According to a survey […]
Bottom Line: Mastercard signs former House Financial Services Committee counsel
Banking master Card Hired 9th Avenue Strategy To Lobby on financial issues Relating to services, interchange and payments: The bipartisan, bicameral bill, the Credit Card Competition Act, threatens to dismantle Mastercard and Visa’s combined 80% dominance of the U.S. credit card interchange market by requiring major financial institutions to offer at least two options for […]
Early dementia often has a surprising warning sign, report says: ‘Financial consequences’
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How UBS fell out with Switzerland’s establishment after rescuing Credit Suisse – Financial Times
UBS staff were surprised by criticism of the Swiss bank made by Chief Executive Officer Sergio Ermotti and Chairman Colm Kelleher at an all-hands meeting last month. “They were being pretty brazen,” recalled one attendee based outside Switzerland. “The feeling was that UBS had stepped in to save Credit Suisse last year and now we […]