Investment banks

"Swiss Leaks" affair: Serbian tycoons were also hiding money in Swiss HSBC bank Serbian citizen brought 20 million euros in HSBC in a suitcase

Among numerous secret accounts in Swiss bank HSBC there are those belonging to some rich Serbian citizens.

HSBC, the UK's biggest bank, helped rich customers to dodge paying tax by allowing them to set up secret accounts in Switzerland.

French newspaper Le Monde published details on a scandalous report revealing a tax evasion scheme in the Swiss branch of HSBC on Sunday.

Bulgaria is also said to have been a part of the illegal dealings with EUR 380,8 M and 74 bank customers.

By Sophie Sassard

Soon after politicians from left-wing SYRIZA party won power in Greece they said they had hired Lazard to advise them on restructuring their debt.

It is a homecoming of sorts for the US investment bank. Lazard cemented its position as the eminence grise of debt negotiations when it secured the biggest restructuring deal in history for Athens in 2012.

BELGRADE - The management board of the Association of Serbian Banks (UBS) discussed on Friday the situation in the Serbian banking sector, with particular focus on the effects of the rise of the Swiss franc.

German banks have around 23.5 billion euros ($28 billion) in credit exposure to Greece, but the systemic risk is limited as the biggest commercial banks, Deutsche Bank and Commerzbank, hold only a tiny fraction of that, according to figures gathered by Reuters.

By Ilias Bellos

Representatives of the Greek government, state sell-off fund TAIPED, the HFSF bank bailout fund, local banks and other listed companies are in New York on Monday to meet with the US investment community at of the 16th annual Greek Investor Forum.

International bank HSBC said on Nov. 13 that its operations in Turkey had been hacked and the personal data of some 2.7 million customers’ credit cards had been compromised, while confirming that no risks had occurred.

HSBC Turkey identified the attack last week through its internal controls.

Small Greek lender Attica Bank has postponed for a second time a shareholder vote on a 434 million euro (542.3 million US dollar) fundraising to plug a capital shortfall, saying it needed more time to finish talks with investors.

Last month, the 79-branch bank had put off a shareholders' vote scheduled for Oct. 13 until Monday (Nov. 10), citing the same reason.

 Ex-Deutsche Bank CEO Josef Ackermann outlines where the eurozone got it wrong and right

By Costas Karkagiannis

Former Deutsche Bank CEO Josef Ackermann has been nominated as chairman of Bank of Cyprus, its US-based investors Wilbur Ross and Tyrus Capital said on Monday.