The decision reflects both groups’ interest in meeting new trends in the European banking sector, especially opportunities arising in the context of the euro. BSCH as a result will now develop its own business strategy in Portugal, consistent with its dimension and under its own brand, with the objective of efficiently consolidating its presence in the Portuguese market. In the context of this new strategy, BSCH will recover the 2.7% of its capital now held by BCP, and the Portuguese bank its 13.8% held by BSCH. The cross-shareholding accord has been in effect since 1993. The seat on the BSCH board till now occupied by a representative of BCP will be taken by Antonio Basagoiti, an Executive Vice President at BSCH.
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.