Banking and Finance

Garuda Indonesia, the country's flagship airline, has appointed Wamildan Tsani Panjaitan as its new CEO. The decision was finalized during a special shareholders meeting, with hopes that his leadership will steer the financially troubled airline towards stability. Panjaitan, who previously held a senior position at Lion Air, officially took on...

Australia’s monetary policy does not have a greater impact than those of other advanced economies, despite the high levels of variable-rate mortgage debt held by Australian households, according to a senior Reserve Bank official. Assistant Governor Christopher Kent explained on Monday that central estimates from Reserve Bank of Australia (RBA)...

South Korea's Hyundai Motor Company (HMC) has announced that José Muñoz will take on the roles of president and co-CEO starting January 1 next year. This historic appointment marks the first time a foreigner will lead the automotive giant, a move aimed at strengthening the company’s presence beyond its home...

Tandem Bank, which has achieved significant underlying profitability in recent years, has announced the appointment of Matt, currently its Treasury Director, as the new Chief Financial Officer (CFO). He will succeed Dave McCarthy, who will remain accountable for regulatory duties until the end of December, and work closely with Matt...

Elon Musk, the billionaire CEO of Tesla and one of the world’s richest individuals, has appointed Mahmoud Reza Banki as the new CFO of X, formerly Twitter. This marks the first publicized appointment of a CFO since Musk acquired the social media platform in 2022 and dismissed key executives, including...

China’s economy, with an output of $18 trillion in 2024, surpasses the combined GDP of 30 other Asian countries, which totals $16.5 trillion. This group of nations includes economic powerhouses like Japan, India, and South Korea, which rank as the 4th, 5th, and 12th largest economies globally, with GDPs of...

A recent leadership shake-up at LVMH, the luxury conglomerate led by billionaire Bernard Arnault, has resulted in a new executive role for one of his children as part of a broader reorganization within the group. LVMH announced in a press release that six executive appointments were made following consultations between...

CAE has announced that Marc Parent, who has led the company for 20 years, including 15 as President and CEO, will step down at the annual general meeting scheduled for August 2025. Parent's decision is part of CAE's ongoing succession plan. Over his tenure, Parent has played a pivotal role...

Liberty Media has announced that its President and CEO, Greg Maffei, will leave his position by the end of 2024. Maffei, who has been with the American investment firm since 2005 and took on the role of CEO in February 2006, decided not to renew his contract, which is set...

DBS Bank India's Managing Director and CEO, Surojit Shome, is set to retire on February 28, 2025. The bank, which has maintained a presence in India for three decades, first established an office in Mumbai in 1994. After a notable tenure leading DBS Bank India since April 2015, Shome had...