Sumitomo Mitsui Banking Corporation is the world’s biggest bank, with total assets of $905,293,000,000, while last year’s leader Deutsche Bank AG, drops to second place, according to the latest Top 3,000 world ranking figures from BANKERSalmanac.com, based on over 3,000 authorised banks in more than 200 countries, ranked by total assets in US dollars. The leap into first position following the merger in April 2001 of Sumitomo and Sakura banks constitutes the biggest shake-up in the Top Ten line-up. Western European banks dominate the survey. Bayerische Hypo-und Vereinsbank AG in particular has performed well and jumped four places up the world ranking table to Number 3. BNP Paribas last year’s Number Two has slid to this year’s Number Four.
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.