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Today’s Top Finance Story on September 15th

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Last week he was the new CEO of a major Wall Street bank. Currently, the possibility of a huge bank merger is suspected.

As first reported by Inside Paradeplatz, UBS Group and Credit Suisse Group AG are reportedly exploring merger ideas.

In particular, UBS Chairman Axel Weber is reportedly leading a possible contract, with a possible agreement in early 2021.

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Citigroup CEO Michael Corbat will speak at an event at the European Financial Forum in Dublin, Ireland, on February 13, 2019. Reuters / Cloder Kill Coin Cloder Kill Coin / Reuters

The big news last week was that Citi CEO Michael Cobat retired in February 2021 and handed over the reins to bank president Jane Fraser.

Dakin Campbell faces the inside story leading up to the announcement, especially the pressure from regulators to put Citi’s risk, compliance, and technology systems under control.

As always, Dakin gathered a lot of information about this and discussed with seven insiders how the whole thing collapsed.

Click here to read the full text.

Chris Brit Chime CEO Chime

When it comes to investing in FinTech, the rich are getting richer and richer. Callum Burroughs and I are scooping at digital bank Chime and are approaching a mega-round funding that can value a $ 15 billion company, more than double the price we got nine months ago. Click here for more information.

Afterpay offers BNPL online in partnership with popular brands such as Boohoo. Caroline McCredie / Getty Images

Buy now and pay later, and this year the world of payments has expanded dramatically. Shannen Balogh planned all the big news that happened in the last six months and looked at what the red-hot space could expect next. Check out the story here.

Cameron Wadley Bank of America

Not as exciting or sexy as innovation centers and technology hubs, patents have proven to be a successful way to drive change at Bank of America. We talked to two executives who made the strategy.

Mark Mason is CFO of Citi. Shannon Stapleton / Reuters

Citi’s CFO, Mark Mason, talked about the bank’s accelerating investment following a $ 900 million wire transfer that was mistakenly sent. Reed Alexander covered Mason’s comment, including what executives said banks would look to recognize savings.

Jonathan Moore / Getty Images

Summarize today’s coverage of Citi and read a note from Citi CEO Michael Corbat sent to employees last month by Dakin Campbell about the importance of risk control. Click here to read the full text.

Odd lot:

Astronomers have discovered a gas in the clouds of Venus that signals the life of an alien (insider)

Work-at-home staff loses productivity at JPMorgan (Bloomberg)

Steve Cohen signs record deal to buy Mets (NY Post)

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