The private-equity firm Cerberus Capital Management has taken a 3% stake in Deutsche Bank four months after buying a 5% stake in another German lender, Commerzbank.
The banking companies agreed to terminate their planned merger after regulators withheld approval. The snag is tied to a previously disclosed issue with Hope's 2016 financial results.
After posting a second quarter of revenue growth and with plans to return another $2 billion of cash to investors, departing boss Stuart Gulliver’s six-year turnaround of HSBC Holdings might finally be gathering momentum.
The new Citigold program for affluent customers is more than a product — it is the centerpiece of Citigroup's vision for the future, which will also rely on branch closures and sophisticated apps.
The Portland, Ore., company outlined a plan to boost its return on tangible common equity to between 13-15% by 2020. More details will be provided by fall, executives said.
