Barclays CEO Antony Jenkins’s pledges to shred the legacy of his predecessor and fix the lender’s culture are distracting from the difficulty he has in reviving profit at Britain’s biggest investment bank.
Cantor Fitzgerald Europe, has announced the acquisition of certain assets and businesses of Seymour Pierce Limited, a small cap/mid-market investment bank.
The new chief executive of Barclays is to close the bank's controversial tax avoidance unit in a bid to repair its battered reputation, although he still risks inflaming the row over City pay by paying out up to £2bn in bonuses.
The promise of unlimited bond buying by the European Central Bank and a major rally in bank stocks and bonds weren't enough to stave off a crisis for Italian bank Monte dei Paschi di Siena and the Dutch lender SNS Reaal in recent weeks.
Interdealer brokers, the middlemen who line up buyers and sellers of securities for banks, are emerging as key enablers in the Libor scandal after three firms paid a total of $2.6 billion for rigging global interest rates.
There's something missing in the Libor settlements that the Royal Bank of Scotland reached last week with authorities in the U.S. and U.K. It's an omission that could impair investors' chances of recovering money lost due to banks' misbehavior.
Global IPO Activity Triples 2012 Levels
The risks are higher, the rewards not what they were.
The 24,000 staff at the investment banking arm of Barclays will find out on Friday the size of their bonuses for 2012 – a year in which the reputation of the bank has been torn to shreds by the Libor rigging scandal as well as misselling of payment protection insurance and interest rate swaps.
Lazard Ltd. climbed to the highest price in about 18 months after reporting profit that beat analysts’ estimates and the most annual merger-advisory revenue in four years.
Credit Suisse has hired Greenhill’s top technology dealmaker, Dhiren Shah, and Barclays banker David Kamo to run teams that advise clients including investment funds on mergers and acquisitions.
A senior policymaker at the Bank of England has said that regulations imposed on the banking sector since the 2008 crisis should not be scaled back in any effort to fuel economic growth.
Holmes Search has been named the Best Risk Recruitment Firm 2015 by readers of global website HITC. It is the company's fifth poll win in five years.