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Novo Banco
novobanco is a Portuguese bank introduced on 4 August 2014 by the Bank of Portugal to rescue assets and liabilities of Banco Espírito Santo (BES). BES was the second largest private financial institution in Portugal in terms of net assets, as well as one of the oldest and most reputed Portuguese banks. The rescue of Banco Espirito Santo came after weeks of increasingly bad news about the financial state of the lender, particularly its exposure to a cascade of companies headed by its founding Espirito Santo family headed by Ricardo Salgado. BES was to be split into a "good bank", renamed Novo Banco, and a "bad bank", which will house BES's exposures to the troubled Espirito Santo business empire as well as its Angolan subsidiary BESA. Novo Banco was recapitalised to the tune of 4.9 billion euros by a special bank Resolution Fund. The Portuguese state lends the fund 4.4 billion euros. The bank had a board for the 2014-2017 mandate presided by Vítor Bento. A month and a half after ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Euronext
Euronext N.V. (short for European New Exchange Technology) is a pan-European bourse that offers various trading and post-trade services. Traded assets include regulated equities, exchange-traded funds (ETF), warrants and certificates, bonds, derivatives, commodities, foreign exchange as well as indices. In December 2021, it had nearly 2,000 listed issuers worth €6.9 trillion in market capitalisation. Euronext is the largest center for debt and funds listings in the world, and provides technology and managed services to third parties. In addition to its main regulated market, it operates Euronext Growth and Euronext Access, providing access to listing for small and medium-sized enterprises. Euronext's commodity market includes the electric power exchange Nord Pool, as well as Fish Pool. Post-trade services include clearing performed by Euronext's multi-asset clearing house, Euronext Clearing, as well as custody and settlement performed by Euronext's central securities depo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ricardo Salgado
Ricardo Espírito Santo Silva Salgado (born June 25, 1944) is a Portuguese economist and convicted banker. President of Banco Espírito Santo, which was founded by his grandfather, he was, until July 2014, the banker active for the longest time in Portugal. Salgado was detained on the 24 July 2014 in an investigation into suspected tax evasion and money laundering. He was later released on bail of €3m after being questioned by a magistrate at Lisbon's central court of criminal investigation. Education Ricardo Salgado was born in Cascais. The great-grandson of José Maria do Espírito Santo Silva and maternal grandson of Ricardo Espírito Santo Silva Ribeiro, Salgado spent the first years of his life in Lisbon. He lived in Lapa, where he studied at a public elementary school and later at Liceu Pedro Nunes. He has a degree in Economics from the Higher Institute of Economic and Financial Sciences of the Universidade Técnica de Lisboa (1969), and did his Military Service in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Of Portugal
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Centerbridge Partners
Centerbridge Partners is a multi-strategy private investment firm focused on leveraged buyouts and distressed securities. The firm manages over $32 billion of assetsBidding company with participation by Advent International and Centerbridge Partners announces intention to launch Bloomberg, November 23, 2021. and is based in , with an additional office in . T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
China Minsheng Bank
China Minsheng Bank (), founded on January 12, 1996, in Beijing, is the first bank in China to be owned mostly by private sector enterprises. The bank was founded by Jing Shuping, a Chinese lawyer and businessman. Minsheng Bank is well known for focusing on making loans to small-medium enterprise. It has over two hundred banking outlets throughout China and relationships with more than seven hundred banks overseas. The bank was publicly listed on the Hong Kong Stock Exchange in 2009. Business description Strategic positioning Officially established on 12 January 1996, CMBC initially formulated its strategic positioning of non-state-owned, high-tech, and large enterprises. Nonetheless, the orientation ended in failure with 8.72% of the non-performing loan rate and 40% loss of Return On Equity (ROE) until 1999. For reversing the unfavourable prospect, CMBC initiates continuous internal reformation such as the replacement of leadership in April 2000 and “the enterprise bus ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Union
The European Union (EU) is a supranational political and economic union of member states that are located primarily in Europe. The union has a total area of and an estimated total population of about 447million. The EU has often been described as a '' sui generis'' political entity (without precedent or comparison) combining the characteristics of both a federation and a confederation. Containing 5.8per cent of the world population in 2020, the EU generated a nominal gross domestic product (GDP) of around trillion in 2021, constituting approximately 18per cent of global nominal GDP. Additionally, all EU states but Bulgaria have a very high Human Development Index according to the United Nations Development Programme. Its cornerstone, the Customs Union, paved the way to establishing an internal single market based on standardised legal framework and legislation that applies in all member states in those matters, and only those matters, where the states have agreed to act ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Apollo Global Management
Apollo Global Management, Inc. is an American global private-equity firm. It provides investment management and invests in credit, private equity, and real assets. As of March 31, 2022, the company had $512 billion of assets under management, including $372 billion invested in credit, including mezzanine capital, hedge funds, non-performing loans, and collateralized loan obligations, $80.7 billion invested in private equity, and $46.2 billion invested in real assets, which includes real estate and infrastructure. The company invests money on behalf of pension funds, financial endowments, and sovereign wealth funds, as well as other institutional and individual investors. Since inception in 1990, private-equity funds managed by Apollo have produced a 24% internal rate of return (IRR) to investors, net of fees. Apollo was founded in 1990 by Leon Black, Josh Harris, and Marc Rowan. Apollo is headquartered in the Solow Building at 9 West 57th Street in New York City, with off ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Anbang Insurance
Anbang Insurance Group () was a Chinese holding company whose subsidiaries mainly deal with insurance, banking, and financial services based in Beijing. As of February 2017, the company had assets worth more than (US$301 billion). The ''Financial Times'' described Anbang as "one of China’s most politically connected companies." Anbang was founded by Wu Xiaohui in 2004 as a regional car insurance company. Chen Xiaolu, a prominent princeling and son of Marshal Chen Yi, served as an early director, although Chen stated that he was merely an advisor and not a shareholder. Its founding shareholders included state-owned car maker Shanghai Automotive Industries Corp., which held a 20% stake. In 2005, state-owned oil company Sinopec bought a 20% share in Anbang. Anbang has more than 30,000 employees in China and is engaged in offering various kinds of insurance and financial products. Anbang's chairman, Wu Xiaohui, was detained in Beijing by government authorities on June 8, 2017, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fosun International Limited
Fosun International Limited is a Chinese multinational conglomerate holding company. Founded in 1992 by Guo Guangchang and four others, the company is headquartered in Shanghai and was incorporated in Hong Kong in 2004. Its Co-CEOs are Chen Qiyu and Xu Xiaoliang. Wang Qunbin joined Guo Guangchang as co-chairman in early 2020. The company is located in 16 countries and is one of the largest privately owned conglomerates in China. It was ranked 371st on the Forbes Global 2000 ranking in 2020. History 1990s Fosun Group was founded in 1992 as the Guangxin Technology Development Company by five graduates of Fudan University in Shanghai: Guo Guangchang, Liang Xinjun, Wang Qunbin (), Fan Wei (), and Tan Jian (). Fosun started its business by doing market research. The major holding company of the group, Fosun High Technology, was incorporated in 1994 in mainland China. Then Fosun extended its business into the healthcare industry (as Fosun Pharmaceutical), real estate, and steel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banco Santander SA
Banco Santander, S.A., doing business as Santander Group (, , Spanish: ), is a Spanish multinational financial services company based in Madrid and Santander in Spain. Additionally, Santander maintains a presence in all global financial centres as the 16th-largest banking institution in the world. Although known for its European banking operations, it has extended operations across North and South America, and more recently in continental Asia. It is considered a systemically important bank by Financial Stability Board. Many subsidiaries, such as Abbey National, have been rebranded under the Santander name. The company is a component of the Euro Stoxx 50 stock market index. In May 2016, Santander was ranked as 37th in the Forbes Global 2000 list of the world's biggest public companies. Santander is Spain's largest bank. Banco Santander is chaired by Ana Patricia Botín-Sanz de Sautuola O'Shea, daughter and granddaughter of former chairmen Emilio Botin-Sanz de Sautuola y G ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banco De Portugal
The Banco de Portugal (English: Bank of Portugal) is the central bank of the Portuguese Republic. The bank was founded by royal charter in 1846, during the reign of Queen Maria II of Portugal, by a merger of the '' Banco de Lisboa'' (Bank of Lisbon), the first bank founded in Portugal, and the ''Companhia Confiança Nacional'' (National Insurance Company), making it one of the oldest banks in continuous operation in the world. It is a full member of the Eurosystem and the European System of Central Banks. History Foundation Queen Maria II of Portugal established the bank by royal charter on 19 November 1846 to act as a commercial bank and issuing bank, it came about as the result of a merger of the Banco de Lisboa, the first bank founded in Portugal, and the Companhia de Confiança Nacional, an investment company specialised in the financing of the public debt. The bank was designated by the Portuguese Crown as the emitter of legal tender, at the time the Portuguese real, wh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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