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After a strong 2021, European private banking faces headwinds

Mckinsey and Company

Western Europe’s private banks posted near-record profits last year, thanks to a high-performing market, but operational improvements stalled.

Banking 102
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2022 Developments in U.S. Securities Fraud Class Actions Against Non-U.S. Issuers

Harvard Corporate Governance

1] As was the case in 2021 and 2020, the Second Circuit continues to be the jurisdiction of choice for plaintiffs bringing securities claims against non-U.S. Continuing the trends in 2021 and 2020, most non-U.S. Liu, Christopher J. Merken , Andrew Stahl, and Austen Boer. The Third (3), Ninth (2), and Fourth (1) Circuits followed.

Banking 292
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Racism and Systemic Risk

Harvard Corporate Governance

News of colossal bank failures have threatened economic stability once again. In March 2023, Silicon Valley Bank (“SVB”) failed after a myriad of factors facilitated a large-scale bank run of its underlying deposits. This post is based on her recent paper , forthcoming in the Northwestern University Law Review. more…)

Banking 294
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A Survey of Private Debt Funds

Harvard Corporate Governance

After the Great Financial Crisis triggered tightening of banking regulation, corporate lending has increasingly migrated out of the banking sector. Private debt funds raise capital commitments through closed-end funds (like private equity) and make senior loans (like banks) directly to, mostly, middle-market firms (i.e.

Banking 215
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DEI Initiatives under Attack by Activists

Harvard Corporate Governance

For example, in pursuit of greater transparency on these issues, the first half of 2022 has already surpassed 2021 in terms of the number of shareholder proposals for race-related audits. Yet this pursuit of moving the needle towards the goal of achieving more positive results in the workplace on DEI has recently been met with resistance.

Banking 252
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DOJ Settles $9 Million Redlining Suit with Bank

N Contracts

The Justice Department (DOJ) continues to fulfill Attorney General Merrick Garland's 2021 promise that his department would “spare no resources” in upholding fair lending laws – this time with a $9 million redlining settlement with a $7 billion-asset Rhode Island bank.

Banking 106
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Crafting the ‘G’ in ESG: Accountability in the Boardroom

Harvard Corporate Governance

Posted by Amma Anaman, Helle Bank Jørgensen, and Chantal Wessels, Nasdaq, Inc., on Tuesday, November 8, 2022 Editor's Note: Amma Anaman is Associate General Counsel and Legal Relationship Manager, Helle Bank Jørgensen is CEO of Competent Boards, and Chantal Wessels is Vice President, Head of Global Reporting and Corporate ESG at Nasdaq, Inc.

Banking 260