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SIA, JP Morgan | March 06, 2020

Italian payments giant SIA has hired JP Morgan as financial advisor for all 'extraordinary transactions' - including a possible IPO. The firm, which is controlled by state lender CDP Equity, confirmed last month that it was beginning the listing process. It said then that it could issue ordinary shares on the Mercato Telematico Azionario market by the summer, although a merger with another payment’s player was not ruled out. Reporting its 2019 results, SIA says consolidated revenue...

Bank of America | January 15, 2020

Bank of America Corp got stung by lower interest rates in the fourth quarter, sending its profit down 4%, a trend that management expects to continue this year. The Charlotte, North Carolina-based lender is especially vulnerable to rate movements because of the composition of its balance sheet. As the Federal Reserve cut rates three times last year, analysts predicted Bank of America’s earnings would suffer. The bank blunted the impact last quarter by growing loans at a rapid clip, and man...

Wealth Management

HSBC and Addepar | November 01, 2022

HSBC U.S. Private Banking, part of the bank’s Wealth and Personal Banking business, announced today that it has selected Addepar, a leading technology platform purpose built for investments, as its consolidated client performance reporting platform. HSBC’s U.S. Private Banking serves domestic and international high net worth and ultra high net worth clients, as well as family offices, with $65 billion in assets under management. As one of the largest banking and financ...

Investing.com | April 24, 2020

Senior World Bank officials on Friday warned that developing economies could see a deeper recession than currently expected if consumption and investment do not rebound quickly after the coronavirus pandemic. In a blog posting on the Bank's website, officials said the preliminary baseline scenario forecast a "grim" 2% drop in economic output in developing countries, the first contraction in these economies since 1960 and a sharp swing from average growth of 4.6% over the las...