With the European Union reaching its 50th birthday, European Commission president Jose Manuel Barroso will be busy working on celebrations… and presumably on strategies to rekindle enthusiasm in the EU project.
Royal Bank of Scotland’s chief executive Sir Fred Goodwin has put a firm foot in the door of the promising Chinese private banking market. RBS has launched a joint venture with Bank of China to service the country’s high net worth individuals, which are estimated to number in excess of 320,000.
A few Wall Street chief executives must have turned green with envy over John Mack, CEO of Morgan Stanley, as the bank announced exceptional first quarter performance: a 60% increase in earnings from continued operations, on record revenues up 29% to $11bn.
