Sunday, 8th November 2009

 

Swiss private bank gets regulatory nod for Bahrain foray

BSI AG (Generali), a Swiss private bank, has obtained regulatory approval from the Central Bank of Bahrain to set up an office in the Middle East country, according to a report in Antara.

The move will mark BSI AG's first presence in the Gulf region.

Saad Osseiran, currently in charge of BSI AG’s Middle East Private Banking Desk at BSI Generali UK, will oversee the new office, which will provide advisory services customised to local needs.

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Brummel

Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

Rich Monitor

Sotheby's 3Q loss widens

Sotheby's third-quarter loss widened as the art auction house posted a worst-than-expected decline in revenue and a tax expense.

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