Company news
Credit Suisse divides international wealth unit
Credit Suisse Group AG is splitting its international wealth-management unit into seven regions from four, in an ongoing push by chief executive officer Tidjane Thiam to regionalize the bank, Bloomberg reported on Monday, citing people briefed on the matter.
The seven regions are Latin America, Brazil, Western Europe, Southern Europe, the Middle East, Africa, and Central and Eastern Europe, the report here said.
The wealth-management unit led by Iqbal Khan will give the regions more autonomy to make decisions, and each will have its own management, Bloomberg added.
-Nampa/Reuters
Netflix finance chief to step down
Netflix Inc chief financial officer David Wells will step down after eight years in the role, the video streaming company said on Monday.
Wells will remain with Netflix until his successor is found, a search that will consider both internal and external candidates, Netflix said.
“Personally, I intend my next chapter to focus more on philanthropy and I like big challenges but I’m not sure yet what that looks like,” Wells said.
-Nampa/Reuters
South Korea to ban BMW vehicles
South Korea’s transport ministry said on Tuesday it would ban some 20 000 BMW vehicles from the streets amid mounting public fears about engine fires.
The driving ban comes after 27 engines went up in flames between January and July, which prompted BMW’s Korea unit to apologize last week and a recall of 106 000 diesel vehicles including the 520d from August.
-Nampa/Reuters
Barclays shifting ownership
Barclays has begun shifting direct ownership of its French, German and Spanish branches from a British-based entity to its Irish bank, according to sources with direct knowledge of the plans, ahead of Britain’s exit from the European Union.
The move shows Barclays putting its Brexit contingency plans into action, in common with other banks which are not waiting for the outcome of negotiations over how financial services will operate after Britain leaves the EU in March.
-Nampa/Reuters
Shell global refining boss to step down
The head of Royal Dutch Shell’s global refining operations Lori Ryerkerk will step down at the end of the month after five years in a job where she oversaw a vast overhaul of the business, according to an internal memo seen by Reuters.
Ryerkerk will be succeeded by Robin Mooldijk, who currently serves as Vice President Manufacturing Americas, responsible for the Anglo-Dutch company’s refining and chemical plants in the United States, Canada and Argentina.
-Nampa/Reuters
Credit Suisse Group AG is splitting its international wealth-management unit into seven regions from four, in an ongoing push by chief executive officer Tidjane Thiam to regionalize the bank, Bloomberg reported on Monday, citing people briefed on the matter.
The seven regions are Latin America, Brazil, Western Europe, Southern Europe, the Middle East, Africa, and Central and Eastern Europe, the report here said.
The wealth-management unit led by Iqbal Khan will give the regions more autonomy to make decisions, and each will have its own management, Bloomberg added.
-Nampa/Reuters
Netflix finance chief to step down
Netflix Inc chief financial officer David Wells will step down after eight years in the role, the video streaming company said on Monday.
Wells will remain with Netflix until his successor is found, a search that will consider both internal and external candidates, Netflix said.
“Personally, I intend my next chapter to focus more on philanthropy and I like big challenges but I’m not sure yet what that looks like,” Wells said.
-Nampa/Reuters
South Korea to ban BMW vehicles
South Korea’s transport ministry said on Tuesday it would ban some 20 000 BMW vehicles from the streets amid mounting public fears about engine fires.
The driving ban comes after 27 engines went up in flames between January and July, which prompted BMW’s Korea unit to apologize last week and a recall of 106 000 diesel vehicles including the 520d from August.
-Nampa/Reuters
Barclays shifting ownership
Barclays has begun shifting direct ownership of its French, German and Spanish branches from a British-based entity to its Irish bank, according to sources with direct knowledge of the plans, ahead of Britain’s exit from the European Union.
The move shows Barclays putting its Brexit contingency plans into action, in common with other banks which are not waiting for the outcome of negotiations over how financial services will operate after Britain leaves the EU in March.
-Nampa/Reuters
Shell global refining boss to step down
The head of Royal Dutch Shell’s global refining operations Lori Ryerkerk will step down at the end of the month after five years in a job where she oversaw a vast overhaul of the business, according to an internal memo seen by Reuters.
Ryerkerk will be succeeded by Robin Mooldijk, who currently serves as Vice President Manufacturing Americas, responsible for the Anglo-Dutch company’s refining and chemical plants in the United States, Canada and Argentina.
-Nampa/Reuters
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