Weekly Global News Wrap: Rothschild & Co takes one step closer to going private; Ant Group may be fined $1b

And UBS makes changes in global wealth management business.

From Reuters:
Rothschild family’s holding company Concordia has acquired all shares of its investment bank Rothschild & Co.

Concordia said it bought 8.18 million shares of Rothschild at 46.60 euros per share.

This paves the way for Concordia to open an offer and take the investment bank private.
Concordia said it bought 8.18 million shares of Rothschild at 46.60 euros per share.

The opening of an offer to delist the bank will take place following a clearance decision from the French market regulator AMF.

ALSO READ: Weekly Global News Wrap: UBS to retain only few Credit Suisse senior bankers; open banking to increase liquidity risk

From Reuters
China’s Ant Group will likely be fined at least 8 billion yuan (approximately $1.1b), according to sources with direct knowledge of the matter, bringing an end to the fintech giant’s years-long regulator overhaul.

The People's Bank of China (PBOC), which has been driving the revamp at Ant after its $37 billion IPO was scuttled in late 2020, is expected to disclose the fine in the coming days, the sources said.

ALSO READ: 8 in 10 Chinese consumers use mobile wallets

From Reuters:
UBS has enacted a slew of management changes to its global wealth management business following its takeover of Credit Suisse.

Several former CS managers have gotten jobs in the changes, which affected roughly 180 executives. Changes will take place on 17 July.

Former Credit Suisse executive Michael Marr will become the head of Global Wealth Management Australia at UBS, according to a person familiar with the matter.

Pembekuan pendanaan menghantam penyedia layanan BNPL

Investor semakin sedikit mengalirkan dana ke penyedia layanan BNPL yang sudah menghadapi keuntungan margin yang tipis.

HSBC: Aliansi bank-fintech merupakan win-win

Pemberi pinjaman dapat belajar dari teknologi disruptif sambil membantu mereka mematuhi regulasi.

Tokenisasi aset perdagangan untuk menjembatani kesenjangan pembiayaan

Teknologi blockchain dapat mendesentralisasikan operasi keuangan dan mempermudah akses kredit.

BCA menjalankan komitmen terhadap keuangan berkelanjutan

Bank asal Indonesia ini mempertimbangkan aspek lingkungan dan tata kelola dalam keputusan pemberian pinjaman.

Mengapa UNOBank mendorong embedded finance tumbuh di Filipina

Bagi UNOBank, banking interface terpadu adalah strategi pertumbuhan sekaligus upaya inklusi keuangan.

OCBC mencoba mengurangi kesenjangan manfaat bagi agen properti di Singapura

Produk terbarunya menawarkan manfaat finansial di bidang perbankan, asuransi, dan perdagangan.

Upaya Malaysia menjadi anggota BRICS untuk mendorong perombakan sistem perbankan

Namun, tantangan muncul ketika menjauh dari ketergantungan pada AS dan SWIFT.

Platform pembayaran PingPong memperoleh lisensi PJP di Indonesia

PingPong mengincar ekspansi ke pasar ekspor senilai $320 miliar di negara tersebut.

Merger dan penutupan mengancam 3.800 bank di area pedesaan Cina

Sekitar 70 bank di area tersebut telah merger sejak 2023.