Daily Dispatches: BoQ close to clinching CIT

Bank of Queensland is believed to be nearing a deal to acquire business financing specialist CIT Group Australia, the local arm of the troubled US bank. BOQ and its adviser, Rothschild, have been poring over CIT's books. An announcement is expected to coincide with the bank's first-half results on Thursday. (The Age)

Allied Irish Banks says it will close its Sydney, Houston, Leeds and Edinburgh offices as pushes ahead with plans to retrench its overseas capital markets business. (The Australian)

Global private equity firm The Carlyle Group has raised more than $US2.5bn (A$2.7bn) for its third Asian fund to take advantage of the Asia-Pacific's strong bounce from the global financial crisis. (The Australian)

St George has underpinned its commitment to the broker channel with the recent appointment of a new head of partnerships for intermediary distribution. (The Advisor)