HSBC says it will cut around 4,000 jobs, or 2% of its workforce, while Chief Executive John Flint is stepping down after less than two years on the job. The bank pointed to the need for a change in leadership to address a “challenging global environment.” The lender has been grappling with digital disruption, trade and geopolitical tensions and a slow turnaround in its U.S. business. Fellow European lenders Barclays and Societe Generale have also announced job cutsrecently.
Staff at the German bank recommended in 2016 and 2017 that multiple transactions involving entities controlled by President Donald Trump and his son-in-law, Jared Kushner, be reported to a federal financial-crimes watchdog//RTE
Anti-money laundering specialists at Deutsche Bank AG recommended in 2016 and 2017 that multiple transactions involving entities controlled by US President Donald Trump and his son-in-law, Jared Kushner, be reported to a federal financial-crimes watchdog, the New York Times has reported.
The newspaper, citing five current and former Deutsche Bank employees, said executives at the German-based bank, which has lent billions of dollars to the Trump and Kushner companies, rejected their employees’ advice and the reports were never filed with the government.