The Clearing House and The Chicago Clearing House have signed a letter of intent to pursue a merger of the two organizations. Both organizations are owned by leading banks and serve as industry forums on issues critical to the banking industry. ‘This merger is consistent with the banking industry’s desire to standardize and rationalize industry infrastructure and associations,’ said Jeff Neubert, President and CEO of The Clearing House. ‘It sends a clear signal to the industry that the time has come for clearing houses and check exchanges across the United States to adopt common rules, common settlement, and ultimately common banking industry ownership and governance,’ he added. ‘This proposed merger reflects the fact that the banking business has changed from regional to national, from paper to electronic, from separate to consolidated,’ said Robert Fitzgerald, President of The Chicago Clearing House.
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.