Banco Santander Central Hispano is to purchase roughly 90 million shares of Sovereign Bank for approximately $2.4bn in cash. The $784bn-in-assets Banco Santander will now be the bank’s largest shareholder with a 20 per cent stake. Banco Santander is the largest financial group in Spain and Latin America and is a major institution elsewhere in Europe, together with the United Kingdom through its Abbey subsidiary and Portugal, where Santander is the third largest banking group. Under the agreement, following its completion of the 20 per cent stake of Sovereign, Santander has the option to increase its ownership up to 24.9 per cent over the next 24 months. After that period, Santander can choose to maintain its investment or increase it to 100 per cent.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more