TD Bank under pressure over sales tactics claims
“Shares in the bank dropped more than 5 per cent on Friday — the most in more than eight years — after reports by the Canadian Broadcasting Corporation accused TD of a catalogue of Wells Fargo-like sales abuses.”
“[Authors] Ho and Cui estimate that China’s relatively new asset management industry had RMB 91.1 trillion under management as at June 2016. Of that, approximately RMB 32.1 trillion was invested in Non-Standard Credit Assets (NSCA). NSCA’s “reﬂect the fact that such credits are conforming to neither bank loans nor bond market standards”, the report says.”
“HSBC broke with tradition by choosing outsider Mark Tucker to replace Douglas Flint as chairman later this year, handing the AIA Group boss the task of selecting a new chief executive for Europe’s biggest bank in 2018.”
“Lloyds Banking Group has struck an agreement to move some of its computer systems and cybersecurity services to IBM, with almost 2,000 staff due to be shifted over to work for the computer business.”
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