Category: Financial Institutions

JAPAN’S BATTLE AGAINST AN AGEING POPULATION: MITSUI SUMITOMO INSURANCE AND AMLIN FORM A WORLD-LEADING INSURANCE COMPANY

Posted on by bsmac in Financial Institutions

Mitsui Sumitomo Insurance Group will acquire British insurer Amlin Plc. The deal follows a recent trend of Japanese insurers turning to international acquisitions to hedge against the liability of Japans’ ageing population by providing additional channels for growth. The deal is mainly revenue driven, while another significant factor is expanding the geographic presence across Asia, … Continue reading JAPAN’S BATTLE AGAINST AN AGEING POPULATION: MITSUI SUMITOMO INSURANCE AND AMLIN FORM A WORLD-LEADING INSURANCE COMPANY →

A EUROPEAN FUND MANAGEMENT POWERHOUSE: SANTANDER AND UNICREDIT COMBINE THEIR ASSET MANAGEMENT UNITS

Posted on by bsmac in Financial Institutions

Banco Santander will combine its asset management arm with Pioneer Investments, a unit of Unicredit. The combined company will manage $429 bn in assets. This deal follows the recent trend in the M&A activity of Asset and Wealth Management firms. Enhancements to profitability, economies of scope and scale, and regulatory compliance are amongst the main … Continue reading A EUROPEAN FUND MANAGEMENT POWERHOUSE: SANTANDER AND UNICREDIT COMBINE THEIR ASSET MANAGEMENT UNITS →

AN EMERGING INTERNATIONAL BANK: SABADELL BUYS TSB FOR £1.7 BN

Posted on by bsmac in Financial Institutions

Spanish institution Banco Sabadell (SAB.MC) agrees to pay £1.7 bn for TSB (TSB.L), Britain's seventh biggest lender with 631 branches and 4.3% market share, in one of the biggest cross-border banking deals since the financial crisis. Formally announced on March 12, the deal was also welcomed by the UK Treasury as “a vote of confidence … Continue reading AN EMERGING INTERNATIONAL BANK: SABADELL BUYS TSB FOR £1.7 BN →

A SUBPRIME RENAISSANCE: CITIGROUP SELLS ONEMAIN TO SPRINGLEAF

Posted on by bsmac in Financial Institutions

Springleaf Holdings Inc. set to buy Citigroup Inc’s OneMain Financial Holdings for $4.25bn in cash, forming the largest subprime lender in the United States. Citigroup’s strategy to sell its non-core operations and focus on wealthier clients produces the combined entity with $15bn dollars in assets, 2000 branches, and a capacity to serve the growing subprime … Continue reading A SUBPRIME RENAISSANCE: CITIGROUP SELLS ONEMAIN TO SPRINGLEAF →

KOTAK MAHINDRA BUYS ING VYSYA AND DOUBLES ITS SIZE

Posted on by bsmac in Financial Institutions

The Kotak Mahindra Bank’s all-share acquisition of the mid-sized player ING Vysya has been agreed for at a value of 150 billion Rs, around $2.4 billion. Announced on November 20, 2014, the Kotak Mahindra – ING Vysya deal becomes India’s biggest financial institutions takeover, exceeding the 2008 HDFC Bank Ltd.’s purchase of Centurion Bank of … Continue reading KOTAK MAHINDRA BUYS ING VYSYA AND DOUBLES ITS SIZE →