Royal Bank of Scotland and rating agency Standard & Poor's have been sued by a group of European institutional investors for damages of up to $250m suffered on complex financial products in the lead-up to the global financial crisis.
Companies planning to splash out on Christmas parties shouldn't bother, a new survey shows, as most employees would prefer the cash instead.
John Fraser, who has been Chairman and CEO Global Asset Management since 2001, has decided to retire from his CEO role and as a member of UBS's Group Executive Board, effective 31st December 2013. This follows a long and distinguished career at UBS and in finance which began in the Australian Treasury and has spanned five decades.
Credit Suisse has announced the sale of its domestic private banking business booked in Germany to ABN AMRO.
Deutsche Bank is committing about $2.3 billion to prove it's sorry that some of its employees rigged interest rates.
RBS reached a settlement with the European Commission, in relation to competition law breaches concerning certain interest rate derivatives referenced to the London Interbank Offered Rate based on Japanese Yen (Yen LIBOR) and the Euro Interbank Offered Rate ('EURIBOR').
From a $846,000 a year to just $116 a week
It's all his fault.
Tim Wise of JP Morgan is made of stout moral stuff. When advising the Co-op Group on its ill-fated transaction with Britannia Building Society in 2009, his judgments were not swayed one iota by the knowledge that a £5m fee for his employer would only be paid if the deal actually happened.
Could be 'even worse than 2008 during the financial crisis'.
Credit Suisse has hired Andreas Arni to head a new unit that focuses on entrepreneurs as it expands the business of managing money for the wealthy.
Jefferies Group whose trading results are seen as a bellwether for Wall Street firms, said fourth-quarter revenue from that business fell 36% as fixed-income sank for a fourth straight quarter.