Financial Business Review: Bank Action

| + More Articles
  • Like on Facebook
  • Share on Google+
  • Share on LinkedIn

President Marcial Portela of Banco Santander SA’s (NYSE:STD) Brazilian division rejects reports that the bank is planning to divest an equity stake to one of its competitors, saying that [his company] “does not need capital”. The Brazilian banks which are rumored to be potential buyers are also dismissing reports of talks.

Don’t Miss: Why is Bank of America Suddenly Hiring?

The new president of SunTrust’s (NYSE:STI) mortgage division is said by sources to be David Stevens, who will step down following one year as the CEO of the Mortgage Banker’s Association. Stevens led the FHA for the Obama administration for two years, prior to his time at the MBA.

Federated Investors (NYSE:FII) and Affiliated Managers (NYSE:AMG) are said by Reuters to be potential buyers of the $1 billion asset management unit of bailed-out Franco-Belgian bank Dexia (DXBGF.PK). New York Life Insurance and European private equity firm Permira might also have Dexia on their acquisitions shopping list.

Investing Insights: Is JPMorgan Throwing Good Money Out With the Bad?

Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.

More Articles About:

To contact the reporter on this story: staff.writers@wallstcheatsheet.com To contact the editor responsible for this story: editors@wallstcheatsheet.com

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business