Shareholders of the Bank of Communications have approved the bank’s plan to raise as much as 42 billion yuan (US$6.15 billion) through a rights offering to replenish capital.
Later this month Nomura’s Japanese staff will have one good reason to either cheer or lament the bank’s acquisition of Lehman Brothers’ Asian and European arms. Nomura employees in Japan will be receiving their first annual bonus since the investment bank overhauled its compensation scheme to bring it more in line with those of Lehman and global rivals. (Financial Times)
Goldman Sachs on Tuesday failed to stem the fallout from US civil fraud charges levied against it, as bumper first-quarter results were overshadowed by investors’ concerns over the case’s implications for Wall Street’s premier investment bank. (Financial Times)
Citi has made two internal appointments and one external hire for its Asia-Pacific acquisition and loans teams which are part of its capital markets origination (CMO) unit, according to an announcement. (Finance Asia)
National Australia Bank Ltd says it is considering its options after formally announcing that it disagrees with the competition watchdog’s decision to block its $14bn takeover bid for the Australian and New Zealand businesses of AXA Asia Pacific. (Sydney Morning Herald )