First Citizens
HSBC gains edge against US$1 billion SVB banker-poaching suit
A FEDERAL judge expressed doubt about the merits of a US$1 billion lawsuit by First Citizens Bank & Trust accusing HSBC Holdings of stealing trade secrets when it recruited dozens of bankers who had j...
First Citizens sues HSBC for stealing SVB staff, secrets
FIRST Citizens Bank & Trust sued HSBC Holdings for allegedly raiding dozens of employees from Silicon Valley Bank in a scheme dubbed “Project Colony” as First Citizens was taking over the failed Calif...
SVB still seeing outflows after First Citizens takeover
The new owner of Silicon Valley Bank (SVB), which collapsed after a bank run in March and set off fears of broader contagion in the global financial sector, said customers are still withdrawing deposi...
FDIC exercises US$500 million in First Citizens stock to close SVB deal
REGULATOR Federal Deposit Insurance Corporation (FDIC) exercised its equity appreciation right in First Citizens BancShares stock worth US$500 million as part of a deal for the regional lender to buy ...
For battered US bank shares, earnings may make or break
FURTHER relief from the US bank stocks rout may have to wait until lenders report quarterly results starting next month.
SVB deal helps to steady banks amid credit crunch concerns
A buyer for Silicon Valley Bank’s deposits and loans helped shares in European lenders mount a partial recovery on Monday (Mar 27), after the sector was hammered last week by worries of systemic bank ...
European stocks rebound as banking jitters ease
European stocks rallied in early deals on Monday (Mar 27), as calm descended on markets following a turbulent week for banking shares that was fuelled by worries about stability in the sector after th...
