Govt, RBI preparing bailout plan for Yes Bank; crisis-hit private lender hopes to tie up funds by next week
Early this month, Yes Bank had appointed Anshu Jain-headed global investment bank Cantor Fitzgerald and two domestic entities for its fundraising plans.
Yes Bank appoints Anshu Jain-headed global investment bank Cantor Fitzgerald, two domestic entities for fundraising plans
Anshu Jain is the ex-colleague of Yes Bank's current Managing Director and Chief Executive Officer Ravneet Gill, who has made the capital-raising as his top priority after taking over last March
The financial services firm wants to cash in on the Jain's experience of handling several investment products across Europe, and hence plans to grow its investment banking business in the region
Deutsche Bank has concluded co-Chief Executive Anshu Jain is clean after an internal investigation into the role of the bank into the manipulation of global interest rates, German newspaper Frankfurter Allgemeine Sonntagszeitung reported.
Three of the world's most powerful bankers warned of terrible consequences if the United States defaults on its debt.
Deutsche Bankco-chief executive Anshu Jain said he sees less turbulent times ahead for the banking industry, thanks to a more stable eurozone.
Jain prefers India's supply constraints to the West's demand-side problems that are structural in nature, but cautions that for the country to realise its true potential the government here needs to address this issue.
With more than 40 years at the bank between them, Anshu Jain and Juergen Fitschen are finding themselves drawn into a series of investigations into the bank's suspected misdeeds during the boom years.
Berlin Banking sector is set to consolidate globally with only five or six lenders emerging as major players and Deutsche Bank should be among them, says Anshu Jain.
Anshu Jain has taken over as the first India-born co-chief executive of Deutsche Bank, marking the beginning of a new era in the German lender's 142-year history amid hopes that he would take the orgainsation to new heights globally.
The largest German bank is facing numerous charges of defrauding its customers and contributing to the US housing market bubble by marketing complex mortgage and financial products that concealed the risks involved.
Jain's pay dropped by almost a quarter year-on-year to 5.8 million euros excluding the deferred cash incentives due to lower performance-related payments in 2011
Here's a quick round-up of the major local and international business and economic news events that happened today.
At the World Economic Forum, many speakers raised a toast to India's biggest export: the Indian CEO.
Deutsche Bank's joint CEO Anshu Jain believe we are now in the second phase of the crisis - as the pressure moves from the private to the public sector.
The compromise solution to the bank's leadership succession could complicate decision-making at the top.
London-based Jain does not speak fluent German and lacks a network of political support in Germany. This could result in a co-CEO model. But that may be only for now. <br /><br />