Appointments
First Horizon Bank has promoted Catherine Wood to Senior Vice President, Head of Commercial…
Allianz Partners, a world leader in B2B2C insurance and assistance, has appointed Carsten Staat…
Income Insurance Limited has announced the appointment of Lim Sim Seng as Chairman of…
The former Deutsche Bank dealmaker brings over 25 years of experience as Standard Chartered…
Speaking at the Swiss Economic Forum, Ermotti addressed his own tenure as the bank…
Banking
Bank of America has agreed to acquire information security specialist MDSec Consulting Limited, adding technical firepower to its cyber defences. The deal is expected to close in the fourth quarter of 2026, pending regulatory approval. Based in Macclesfield, England, MDSec brings about 65 cybersecurity professionals who handle deeply technical information security consultancy. The deal builds on Bank of America’s footprint in the North of England, where it has more than 1,400 employees in nearby Chester and one of its cyber threat operations centres. “We have long admired the exceptional ability of the MDSec team and are delighted that Bank of America and its clients will now further benefit from their work,” said Kris Fador, Chief Information Security Officer at Bank of America. “We look forward to welcoming the MDSec team to Bank of America as we continue to enhance our leading cybersecurity capabilities in the UK and globally.” “We’re immensely proud of what we’ve built at MDSec and, above all, of the team that made it possible,” said Dominic Chell, Co-Founder of MDSec. “From the outset, our ambition has been to build world-class security capabilities and to push the industry forward. Joining one of the world’s leading financial institutions, one that reflects our culture of innovation and technical excellence, gives us an incredible opportunity to take that ambition to the next level.” Bank of America serves more than 69 million clients through roughly 3,500 retail financial centres, around 15,000 ATMs and some 60 million verified digital users, with operations across the United States, its territories and more than 35 countries and jurisdictions. The Herald View: Banks used to buy cybersecurity as a service. Now they buy the team outright. Bank of America already runs a threat operations centre a short drive from MDSec’s front door, so this is less a bolt-on than a talent lock-in. With elite security engineers scarce and adversaries AI-armed, owning the expertise beats renting…
RBL Bank posted a 27% rise in first-quarter net profit to 2.54 billion rupees…
Tether has led a $7 million Series A in Pact Labs, joined by Blockchange…
Partners Group pulled in $16 billion of new client demand in the first half…
DBS Group plans to grow wealth assets under management past S$1 trillion (US$774 billion)…
The Vietnamese tech firm and Singapore lender plan to finalise pilot scope and roadmap within 90 days UOB has signed a memorandum of understanding with Vietnamese technology provider FPT Corporation to modernise how banking services are developed, delivered and scaled across UOB’s core markets, using AI, data analytics, automation, cloud infrastructure and APIs. The agreement also aims to create a platform through which UOB, FPT and broader ecosystem partners can turn innovation priorities into scalable business opportunities, with a focus on supporting cross-border financial services and interconnected financial ecosystems. The two companies said the detailed plan, including pilot scope, implementation roadmap, governance model and expected outcomes, will be finalised within 90…
Wall Street bank among first in the sector to adopt the technology widely as global lenders reshape workforces around AI JPMorgan is implementing AI tools across its investment banking business globally, the bank’s Asia investment banking head said on Thursday, making it among the first in the sector to adopt the technology widely. “We are in the early phase adopting AI tools throughout our investment banking business globally but are excited by the developments,” Paul Uren, JPMorgan’s Asia Pacific head of investment banking, told Reuters. Global banks are increasing investment in AI, reshaping their workforces and driving changes in job roles. Earlier the same day, JPMorgan CEO Jamie Dimon told Bloomberg News that the bank would hire more AI specialists and fewer traditional bankers. The comments follow rival Standard Chartered’s move to cut nearly 8,000 staff by 2030 as it expands its use of AI. “Our AI tools enable us to access more information and quickly synthesize it with our internal systems,” Uren said, without specifying which AI tools bankers were using. “We’re finding that AI streamlines the preparation of content and materials, as well as helping bankers engage with more clients more efficiently,” he added. JPMorgan is among select organizations permitted by AI startup Anthropic to use its Mythos cybersecurity model under the company’s controlled “Project Glasswing” initiative. According to Anthropic, Mythos is capable of detecting decades-old vulnerabilities in web browsers, infrastructure and software — a capability that has raised concerns among cybersecurity experts that it could enable more sophisticated cyberattacks, posing a risk to a banking industry reliant on legacy technology. Apart from JPMorgan, Goldman Sachs, Citigroup, Bank of America and Morgan Stanley have access to, or are testing, Mythos, Reuters reported, citing sources and company…
Mergers & Acquisitions
The deal brings a two-million-user youth banking platform into Barclays UK, with US…
Raiffeisen Bank International has now received acceptances covering more than half of Addiko’s…
Commerzbank says no institutional investor has tendered shares into the €40 billion offer;…
Finance Minister Jan Jambon opted for a private sale over an IPO, citing…
The deal gives Scotiabank FDIC deposit insurance to support its Mortgage Capital Markets…
Wealth & Investment
GXS Bank has launched the GXS Credit Card, an unlimited cashback product issued with Visa…
United Overseas Bank has appointed Tan Choon Hin as Head of ASEAN and Greater China,…
INFINIOS, the Bahrain-based digital financial infrastructure company, is live with Mastercard on stablecoin settlement. No…
Mastercard has named Yasemin Bedir President of its Eastern Europe, Middle East and Africa region,…
HSBC is selling its A$36 billion ($25.30 billion) Australian home and personal loan book to…