Chiswell for sale as Old Mutual's Nedcor warns on profits

Old Mutual, the South African-based financial services firm, has attempted to reassure investors after Nedcor, its separately listed South African banking subsidiary, issued a profits warning.

On Monday, Nedcor warned shareholders that core earnings for the second half of the year, which ends next month, would be a lot lower than analysts' forecasts. It blamed higher funding costs and lower non-interest income as the main reasons for the reduced earnings.

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Inside the Wall Street Recruitment Wars Pitting Banks Against Buyout FirmsExternal link

Inside the Wall Street Recruitment Wars Pitting Banks Against Buyout Firms