Vietcombank headquarters (Photo: Vietcombank) Hanoi (VNA) – The New York State Department of Financial Services has granted operating license to the Commercial Bank for Foreign Trade of Vietnam (Vietcombank) to open a representative office in New York. Accordingly, the office will be based at One Rockefeller Plaza in Manhattan centre. It is due to be open in the third quarter this year Earlier in October 2018, the bank obtained the US Federal Reserve’s approval to open the office. Last year, the lender took the lead nationwide with a net profit of over 18.2 trillion VND (791 million USD), up 61.1 percent from 2017. Targets in total asset and equity grew strongly while credit quality was under control. As of May, Vietcombank still topped others in profit term with upwards 9 trillion VND. Chairman of Vietcombank’s Board of Directors Nghiem Xuan Thanh said the bank strives to earn 21 trillion VND in profit this year and is likely to hit 1 billion USD by … [Read more...] about Bank officially licensed to open office in New York
New york banking department
FILE PHOTO: A view of the Goldman Sachs stall on the floor of the New York Stock Exchange July 16, 2013. REUTERS/Brendan McDermid/File Photo NEW YORK (Reuters) - Goldman Sachs Group Inc plans to lay off nearly 100 employees in New York in the coming months, according to a filing the bank made with New York state that was made public on Monday. The 98 employees are being let go for “economic” reasons and their final day will be between May 29 and Sept. 28, according to a Worker Adjustment and Retraining Notification that the bank filed with the New York State Department of Labor on Feb. 19. It was not immediately clear in what division of the bank the employees worked, but they have all been notified about the layoffs, according to a source familiar with the filing. Goldman Sachs is known for an annual all-staff review in which the bank fires around 5 percent of employees for reasons like missing performance targets. The bank has said that this allows it to make new … [Read more...] about Goldman Sachs to layoff 98 bank employees in New York
State prosecutors in New York are using Michael Cohen’s congressional testimony to guide them as they investigate whether President Donald Trump committed a variety of financial crimes as he built his vast real-estate empire. The Washington Post on Thursday published a lengthy look at how Trump went about inflating and deflating the value of his assets for insurance and tax purposes. After Cohen testified to Congress, New York authorities and congressional investigators sent subpoenas and document requests to Trump’s insurance provider, financial institutions, and more. Meanwhile, federal prosecutors in the New York City boroughs of Manhattan and Brooklyn are known to be investigating Trump’s business dealings before the election and his inaugural committee, respectively. New York law is known to be tough on financial crime, and experts say the state – not the Russia investigation – poses the greatest legal threat to Trump’s businesses and … [Read more...] about Trump said investigating his finances would be a ‘red line.’ New York prosecutors are about to cross it.
US authorities have opened an investigation into under-fire Swedish bank Swedbank over suspicions it misled them over its customers’ ties to the infamous law firm Mossack Fonseca. Broadcaster SVT reported today that the New York State Department of Financial Services asked Swedbank in 2018 and 2016 for information on all contacts its customers had with the firm which was propelled to global fame with the release of the Panama Papers. Read more: Police raid Swedbank headquarters amid money laundering probe The department said it had requested information on all the global operations of Swedbank, according to a letter seen by SVT. “It appears that [the] response may be incomplete, as it does not appear to apply to the ‘global operations of Swedbank’, and instead excludes responsive information relating to parents, subsidiaries or other affiliates of Swedbank,” the DFS said in a letter to the bank’s New York boss. The letter also demands that Swedbank … [Read more...] about New York authorities open investigation into Swedbank
New York City has some of the country’s highest-paying jobs. Nearly 30% of New Yorkers make six-figure salaries. But a high income doesn’t render you impervious to the city’s high taxes and infamously high cost of living. From tiny, 260-square-foot apartments to above-average-priced milk, here’s what living in New York on a $US100,000 salary can really look like. New York is a relatively high-income state. Source: Data USA And New York City has higher incomes than other parts of the country. Source: Data USA Many people flock to the Big Apple for the assortment of high-paying jobs the market has to offer. Source: CNBC About 30% of New Yorkers end up making a six-figure salary. Source: Statistical Atlas Jobs that pay a $US100,000 salary specifically in New York include business analyst, executive assistant, and software engineer. Source: Indeed That’s compared to the average salary in New York City of $US69,211. Source: PayScale With … [Read more...] about What it’s really like living in New York City on a $100,000 salary