Effective April 19, Banco Central Hispanoamericano, S.A. and Banco Santander S.A, are merging and forming a new bank called Banco Santander Central Hispano (BSCH). All previous obligations issued by the two banks will be fully guaranteed by the newly formed entity. Although Banco Central Hispanoamericano, S.A. and Banco Santander S.A no longer exist as legal banking entities, the new Banco Santander Central Hispano is keeping the three trade marks that were used by the merged banks, namely Banco Santander (BS), Banco Central Hispanoamericano (BCH) and Banesto. The three product brands will continue to be marketed separately, although with centralized activities and strong coordination. The merger clearly strengthens the retail banking business in Spain, increasing domestic market share and allowing further economies of scale
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.