Finance Avenue

Mr. Jean-Marc Huet was appointed as the Chief financial officer of Unilever. He replaces  Mr. James Lawrence. On the other hand Mr. Huet has resigned from the position of finance chief at Bristol-Myers Squibb (BMS), a pharmaceutical company. Mr Huet, a product of worked for Dartmouth College and Insead, the French business school has previously [...]

The financial sector has borne the brunt of the recession and profits seems to be the thing of the past, at least for sometime now and very few banks have managed to get any positives in their annual budget. But one bank seems to have gone against the wind and we are talking about an [...]

HSBC- Hongkong Shanghai Banking Corporation. The Asian leader has decided to go for fundraising so as to deal with its plummeting profits in the Asian markets and to escape the rise in losses in the US mortgage market. They are intending to raise around $20bn (£13bn), with the help of shareholders, the details of which [...]

It’s a known fact that the sector which was the worst hit during recession was the banking sector and we have seen a lot of changes in global banking functions in this few months itself, with a lot of private banks being nationalized, and other measures being taken to ensure its stability. In one [...]

The Royal Bank of Scotland seems to be having trouble managing their employee’s affair. Here the only difference is that, that employee was earlier the Chief Executive of the bank and is a high profile man, whose pension amount is a bit too much for the bank to afford this season.
And Sir Fred Goodwin aint [...]

As it goes on records with a formal posting of a net loss of 24.14 billion pounds (($34.4 billion), Royal Bank of Scotland has set a record of not only a massive loss but the biggest restructuring plan in the British corporate history. The intensity and extent of its restructuring plan is all set to [...]

The New Banking Act finally came into being which gives the Bank of England more powers to intervene into matters of failing banks, mostly in the interest of savers and the investors and the overall economic and financial system. This is termed as the Special Resolution Regime(SRR),under which the savings will be returned to the [...]

Citibank, a bank of international repute is well on the path of saving itself with government aid that too in the global superpower United States has raised a lot of eyebrows. A question mark put against Citibank’s functioning and capabilities is very much in order.
If things get underway as wished by Citibank you have government [...]

Swiss Banks have very well had a reputation of being secretive about their customer’s transactions and banking activities….But the recent happenings have put forth startling revelations and further prove the point that no body is trust worthy in this world after all.
United Bank of Switzerland’s endeavor to reveal the transactions of US citizens who are [...]

Need of the Hour : Redefining Banks and Increased Accountability
Banks have always played the number games and earning a high margin of returns against their funding or investments especially in the boom time or so it seemed. But with the current scenario of economic slowdown and uncertainties, the true scene comes to fore showing [...]