- Shareholder endorsement for JPMorgan Chase chief
- Lloyds Banking Group confident in its capital position
- Bank of Ireland reverses mortgage rate decision
- IMF calls for Lloyds and RBS sale
- Deutsche Bank cut from overweight to neutral
- World Bank announces billion dollar pledge to Africa’s Great Lakes region
- Nationwide current accounts at record high expired
- Draft EU bank rescue law could hit large investors expired
- OTP to buy Credigen Bank expired
- NatWest and RBS launch loan fund for leisure businesses expired
- Sovereign Bank launches mobile app for on-the-go banking expired
- Monitise service exceeds expectation expired
13th July 2012
Julius Bär Italian JV
Julius Bär is to merge its Italian asset management business in Italy with Kairos Group. It will gain a 20% stake in Kairos with options to increase this stake to a majority holding in the future.
The joint venture will be required to seek a new banking licence from the Italian authorities. Paolo Basilico, the current Kairos head is to remain on the board, though what position he will hold in the JV was unclear. Bär is still expected to buy the non-US wealth management business from BoA Merrill Lynch.