Public finance specialist rejected AMA prior to break-up, finding capital benefit might not offset costs, but fellow Belgian bank BNP Paribas Fortis argues in favour of op risk modelling
Aviva announces new global aggregate portfolio head
Training for growth
BNP Paribas in senior management reshuffle
The Canadian bank wants to hire up to 300 wealth management staff in Asia during the next four years.
Structured Products Europe Awards 2010
Dubbed 'Basel for insurers', operational risk management under the Solvency II regime is still mystifying most in the insurance world. This case study highlights the basic issues to consider.
Outsourcing is about more than cutting costs
Fortis Group has named Kurt De Schepper as chief risk officer (CRO) in a newly created position within the restructured company, subject to approval by the Belgian Banking, Finance and Insurance Commission. As CRO, De Schepper will be a member of the…
A clean-energy infrastructure fund managed by Fortis Investments has attracted €158 million ($232 million) in investment in its first year.
The cost of credit protection on European financial institutions fell this morning following the US Federal Reserve's announcement yesterday that the economic outlook is improving.
The cost of credit protection on US banks fell yesterday, in the week US Treasury secretary Timothy Geithner asserted "the vast majority" of the nation's banks are well-capitalised.
Losses and Lawsuits
Fading investor confidence in the stability of financial institutions has caused the cost of credit protection on banks across the globe to increase over the past 24 hours.
The cost of credit protection on Dutch and Belgian bank Fortis narrowed this morning, after Fortis chairman Jozef de Mey and BNP Paribas chief executive Baudoin Prot told media the takeover deal between the two banks is still alive.
Benelux bank Fortis today revealed a net loss of €14.1 billion for the first nine months of 2008, due mainly to its acquisition of parts of ABN Amro.
Europe Awards 2008
BNP Paribas plans to liquidate €10.4 billion in impaired assets left ringfenced after the breakup of the Benelux bank Fortis, chief executive Baudouin Prot said this morning.
Credit default swaps (CDSs) on a number of major dealers widened yesterday in spite of the US Senate vote on a revised $700 billion financial rescue plan.