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Investing.com -- Standard Chartered CEO Bill Winters said Tuesday that regulators should be more concerned about banks with systemic importance that are leveraged "eight to ten times" than about private credit firms.
Speaking at the Future Investment Initiative conference in Riyadh, Saudi Arabia, Winters noted that non-bank institutions are much less leveraged and that private credit "creates much lower systemic risks than banks."
The conference also featured Citigroup CEO Jane Fraser, who discussed the impact of artificial intelligence on the financial sector. Fraser stated that "AI will be rewiring of a lot of the global economy and financial services." She also addressed private credit, saying "we need to decide whether it’s tug of war or team sport," and identified an "inflection point is where AI and private credit meet."
DBS Group CEO Tan Su Shan also participated in the conference, emphasizing that banks must match financial technology companies on digital experience while maintaining trust. Tan expressed optimism about trade flows between Asia and the Gulf Cooperation Council (GCC) region.
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