Morgan Stanley is taking three years to pay out 2012 bonuses to high-earning employees, three sources familiar with the situation said on Tuesday, a step that will better align incentives with shareholder interests and make it harder for employees to leave.
JPMorgan Chase CEO Jamie Dimon had his pay cut by half after a review of losses at the bank’s Chief Investment Office found he bears responsibility for the blunders.
Morgan Stanley has laid off two vice-presidents and one or two other employees in its commodities division as part of a global plan to shed staff and cut costs, sources familiar with the matter said on Wednesday.
Along with its first quarter earnings, JPMorgan Chase announced today that the bank had concluded two reviews of the losses by its Chief Investment Office. This is probably best known to you as the London Whale affair, after the nickname given to an employee in the CIO by traders taking the other side of his outsized positions in the derivatives market.
Alibaba, China’s biggest e-commerce company, has hired Credit Suisse and Goldman Sachs to arrange an initial public offering, said two people with knowledge of the matter.
The U.S. Securities and Exchange Commission has promoted its computer-trading specialist, boosting his office’s effort to scrutinize rapid-fire trading’s impact on equity markets.
Here we go:
Relating to the Board’s Oversight Function With Respect to Risk Management January 15, 2013
Investment banking giant Goldman Sachs reported quarterly earnings and revenue on Wednesday that far exceeded Wall Street predictions.
Citing strong growth across its banking and asset management segments, JPMorgan Chase's earnings rose strongly in the last quarter of 2012, the bank reported on Wednesday, defying concerns about the global economy and exceeded analysts' expectations.
JPMorgan still has a shortfall of as much as $12.5bn in meeting capital rules approved by the Federal Reserve on Monday.
Five years after Dodd-Frank, we're still waiting for Wall Street pay reform, says Sarah Anderson.
The prosecution in the first trial of a defendant accused of rigging Libor told the jury on Monday that what mattered was the dishonest intent to influence benchmark interest rates for profit, not the outcome of the manipulation.