Keywords: Citigroup, Sandy Weill, JPMorgan, Jamie Dimon, NAB, FSA UK, Ecobank, Banco Espirito Santo, Abu Dhabi Islamic Bank, Koja Nagai, Nomura, CCB, ABC, CDB, ICBC, Mike DeNoma, Chinatrust Commercial Bank, Philippine National Bank, Allied Banking Corporation, RBI, HSBC, CBA

"The world changes."
Former Citigroup CEO Sandy Weill, on splitting up the biggest banks.


The following are notes from our Monday morning meeting.

JPMorgan CEO Jamie Dimon increased his personal stake in the bank by 12% for $12.3m and reshuffled his management team.

NAB’s UK arm Clydesdale Bank will voluntarily allow FSA UK to review its products.

Africa’s Ecobank and Portugal’s Banco Espírito Santo signed an MoU on trade and investments.

UAE’s Abu Dhabi Islamic Bank established its first branch in Iraq.

Koji Nagai replaced Kenichi Watanabe as Japan’s Nomura Holdings CEO. Read our comment.

China’s CCB, ABC, CDB and ICBC will lend Guangzhou Da-Guang Expressway $2.5b.

Michael DeNoma, chief executive of Chinatrust Commercial Bank, will step down on August 1st.

11 Myanmar banks will operate foreign currency accounts to encourage foreign direct investment.

PDIC approved Philippine National Bank and Allied Banking Corporation’s merger.

RBI approved HSBC’s acquisition of 23 out of 31 RBS India branches.

Software upgrade failure at Australia’s CBA caused branch offices to operate at limited capacity for 36 hours.