Keywords: Wells Fargo, Dick Kovacevich, Bank Of Kunlun, Knight Capital, Standard Bank, National Bank Of Abu Dhabi, KDB, HSBC, CBRC, BoC, ICBC, Ravneet Gill, Deutsche Bank, NAB

"Investment bankers are risky, not investment banking."
Wells Fargo chairman emeritus Dick Kovacevich, on Sandy Weill’s call to break up big banks.


The following are notes from our Monday morning meeting.

US imposed sanctions against China’s Bank of Kunlun over Iran transactions.

Knight Capital’s $440m trading glitch affected customers Fidelity and TD Ameritrade, wiped out 80% share price and invited regulatory costs. Read our comment.

Africa’s Standard Bank will be lead manager for logistics company Transnet’s $1b bond issue.

National Bank of Abu Dhabi is looking to buy the Egyptian operations of French banks.

KDB cancelled acquisition of HSBC’s South Korean retail banking business.

China’s CBRC fined ICBC and BoC for slow fraud reporting.

Malaysia charged two men, who exposed the Feedlot scandal involving a high ranking minister, under the Banking Secrecy Act, in a move widely seen as condoning crony corruption.

Ravneet Gill has been named Deutsche Bank India CEO.

Australia’s NAB has developed its first banking app for Windows Phone devices.