Three major French banks (Crédit Agricole, Société Générale and BPCE) have been downgraded by Standard & Poors. BNP Paribas is the only major French bank to be exempt from the ratings cull.
Crédit Agricole has appointed Olivier Toussaint as chief executive of its private banking subsidiary, Banque de Gestion Privée Indosuez, to replace Hervé Catala who will become chairman of Crédit Agricole’s management board.
Applying US investor Warren Buffett's own theories of investing throws up seven key stocks that Crédit Agricole Cheuvreux believes the "Sage of Omaha" should consider adding to his own portfolio. Here are extracts of their "letter".
Ratings agency Fitch has downgraded Swiss bank UBS while placing French banks BNP Paribas, Credit Agricole, Société Générale and Banque Fédérative du Credit Mutuel as well as a number of global banks on negative watch.
Europe-wide banking regulator the European Banking Authority will publish results of stress tests for 91 banks across the region later today, once markets have closed.
Pictet Asset Management has hired Avo Ora from Putnam Investments to boost its emerging markets team focused on Asia excluding Japan.
Crédit Agricole and Natixis have been slapped with fines by France’s market regulator Autorité des Marchés Financiers (AMF), while the UK’s Financial Services Authority (FSA) is yet to decide whether to take equivalent action on HSBC and Barclays.