Joint account.(international business items include the appointment of Rolf Breuer as chairperson of Germany's largest bank, Deutsche Bank, and the announcement that the bank's profits increased 28% in the first quarter of 1997)(Business This Week)(Brief Article)
Economist (US), The, May, 1997
Rolf Breuer took over as chairman of Deutsche Bank, Germany's largest; it announced that pre-tax profits in the first quarter of 1997 were up 28%, to DM1.3 billion ($785m).
A huge new Italian banking group, second only to Istituto Bancario San Paolo di Torino, is to be formed by a 6.5 trillion lire ($3.9 billion) merger between Cariplo, Italy's largest savings bank, and Ambroveneto, a move that in effect privatises Cariplo, currently owned by local and regional authorities.
The Nomura scandal took a political turn when it was revealed that three cabinet ministers held "VIP" accounts at the brokerage firm. Nomura denied the three had received preferential treatment. Prosecutors raided Dai-Ichi Kangyo, a top Japanese bank, in connection with Nomura's...
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