The data was stolen by a former information technology employee about three years ago, the Geneva-based unit of HSBC said today in a statement. French authorities, which seized the data, have told their Swiss counterparts that they wont use the information “inappropriately,” the bank said.
“The bank does not believe that the stolen data has or will allow any third party to access any client account,” HSBC said in the statement. The accounts were all opened before October 2006, the bank said.
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Barclays Capital, the investment-banking unit of Barclays Plc, increased its pay and bonuses per employee by about 93 percent in 2009, according to company filings. Royal Bank of Scotland Group Plc, the U.K.s biggest government-owned bank, raised total compensation per employee by about 73 percent last year. Of the U.K.s three largest banks, HSBC Holdings Plc was the only one where pay declined slightly in its investment bank.
“The banks are just paying lip-service to what they think politicians and the public want to hear while carrying - - - - >

The proposal would have increased Geoghegans base salary to as much as 1.5 million pounds this year from 1.1 million pounds ($1.7 million) in 2009, said the person, who declined to be identified because the talks are private. Finance Director Douglas Flint would have received a similar percentage increase on his 700,000 pound salary, the person said.
Executives at Barclays Plc, Royal Bank of Scotland Group Plc and Lloyds Banking Group Plc all waived bonuses for 2009 amid public anger over such payments after taxpayers bailed out - - - - >

Ping An, listed in Hong Kong and Shanghai, expects banking, asset management and insurance to each contribute a third of profit within about 10 years. Five years after Citigroup Inc. sold Travelers Life & Annuity and 17 months after Allianz SE agreed to sell Dresdner Bank, President Louis Cheung says Ping An will succeed in its bank-assurance ambition because it developed each business.
“Universal banking is dead, but we are not the same,” he said in an interview in his Shenzhen office. “We built from scratch each - - - - >

German Chancellor Angela Merkel said yesterday her government may buy stolen data on Swiss bank accounts as French authorities comb information acquired from an employee of HSBC Holdings Plcs private bank in Geneva. The cases come two years after Germany paid 5 million euros ($7 million) for details filched from LGT Group in neighboring Liechtenstein.
“This is a kind of business war against Switzerland in which practices which were completely illegal have become acceptable,” says Daniel Fischer, founder of Zurich-based Fischer & Partner law firm who specializes - - - - >

Until now.
Barclays Plc won the sheikdoms first foreclosure cases in court, clearing the way for lenders holding about $16 billion of Dubai home loans to take action when borrowers dont pay. Islamic lender Tamweel PJSC, the emirates biggest mortgage bank, has several of its own foreclosure claims pending and estimates about 3 percent of its mortgages are in default.
“Banks will be more aggressive in pursuing legal action if they see the process - - - - >

Goldman Sachs may have a stake of much as 2.4 percent in Sumitomo Mitsui after the transaction, according to a statement filed with the Finance Ministry in Tokyo today. Japans second- largest bank by market value also said it aims to raise as much as 889 billion yen selling common stock this month.
Sumitomo Mitsui President Teisuke Kitayama is under pressure to boost capital that trails the average among global rivals, according to Standard & Poors. Kitayama said last month he doesnt want to be “slow off - - - - >

The shares will be sold at 37 pence each compared with yesterdays closing price of 91.47 pence a share, the London- based lender said in a statement today. Lloyds will offer 1.34 new shares for every one held in an issue of 36.5 billion shares, it said.
Lloyds announced its intention to raise the money in a fully underwritten rights offering on Nov. 3. The share sale will surpass that of HSBC Holdings Plc which raised 12.5 billion pounds in Britains biggest sale in March. - - - - >

The shares will be sold at 37 pence each compared with yesterdays closing price of 91.47 pence a share, the London- based lender said in a statement today. Lloyds will offer 1.34 new shares for every one held in an issue of 36.5 billion shares, it said.
Lloyds announced its intention to raise the money in a fully underwritten rights offering on Nov. 3. The share sale will surpass that of HSBC Holdings Plc which raised 12.5 billion pounds in Britains biggest sale in March. - - - - >

HSBC, Europes largest bank by market value, will remain at 8 Canada Square, a 656-foot (200-meter) tower in the Canary Wharf financial district, following the sale to Seoul-based NPS, according to a statement yesterday. Officials at the South Korean fund were not available for comment.
The South Koreas state pension fund plans to double its international assets to 15 percent of its total holdings by 2015, the fund said in July. This will include property acquisitions in the worlds major cities, the fund said in a Nov. - - - - >