August 21, 1989 |
Three banks in Los Angeles were used as part of an international network that laundered millions of dollars in illegal proceeds from penny stock schemes, according to recently unsealed federal court documents. Branches of Security Pacific National Bank, First Interstate Bank and Union Bank of Switzerland here were identified in the documents as playing unwitting roles in the sophisticated laundering operation.
April 12, 1996 |
Switzerland's largest bank rejected Thursday a proposal by its nearest rival to form the world's second-largest bank, saying a merger would have strained it financially and drawn serious political opposition. The board of Union Bank of Switzerland decided unanimously against pursuing a combination with No. 2 CS Holding, the parent of Credit Suisse and CS First Boston Group Inc.
April 10, 1996 |
Switzerland's two biggest banks--Union Bank and CS Holding--said Tuesday they are weighing a merger that would create another worldwide banking behemoth. The board of No. 1 Union Bank of Switzerland will decide this week whether to pursue the pitch from CS Holding. A combination of the two worldwide banking companies would create a global force in securities and banking.
September 4, 1991 |
In the latest surprise to hit the U.S. government securities market, Sanwa Bank Ltd. said Tuesday that it replaced three top officials at its New York bond trading subsidiary. Coming amid a widening federal investigation of dealings in the Treasury market, the abrupt move prompted intense speculation on Wall Street that the changes might be linked to the inquiries.
June 26, 1995 |
Foreign Brokerage Branches OKd: The South Korean government said it will approve the applications of five foreign brokerages to establish branches in Seoul. The Ministry of Finance and Economy said the five are Morgan Stanley International Ltd., CS First Boston, Credit Lyonnais Securities (Switzerland), Union Bank of Switzerland and Yamaichi Securities of Japan.