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"Culture and leadership are essential pieces of the fabric of a bank."
Citigroup CEO  Vikram Pandit, commenting on recent LIBOR scandals.



The following are notes from our Monday morning meeting.

HSBC is facing $1b in fines from the US Senate Permanent Subcommittee on Investigations for poor anti money laundering controls.

National Australia Bank will cut 730 jobs the UK.

South Africa’s Land Bank acquired the corporate loan portfolio of GroCapital for $132m.

StanChart appointed a certain Raheel Ahmed as regional head of consumer banking for Middle East, Pakistan and Africa.

JBIC dropped Barclays as lead manager for its $1b Japan bond deal.

Bank of Taiwan opened its first branch in Shanghai, China.

Vietnam’s Sacombank, VPBank, and TienPhong Bank have appointed new general directors.

Kasikornbank signed an MOU with Bank Central Asia to service Thai clients in Indonesia.

Malaysia's CIMB cancelled acquisition of RBS India due to unexpected legal issues.

Australia’s Westpac launched a mobile application which can process credit card payments in real-time.