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C Suisse Agrees to Sell ETF Business to BlackRock

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Credit Suisse has announced that it has signed an agreement to sell its exchange traded funds (ETF) business to BlackRock, Inc. (BlackRock). This is an important strategic step in an industry that requires significant scale, and allows Credit Suisse to realize value in a business successfully built over many years.

Top UBS Banker Attacks City Culture

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Banks are "too arrogant" and must undergo sweeping cultural changes, a top banker at UBS said on Wednesday as the Swiss bank was described by the incoming archbishop of Canterbury, Justin Welby, as a "corrupted organisation".

Deutsche Bank Benefited From Libor Trades: Report

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Germany's Deutsche Bank benefited from trades pegged to the London Interbank Offer Rate (Libor) currently under investigation, the Wall Street Journal reported on Thursday, adding that the bank made at least 500 million euros ($654 million) in profit from the trades in 2008.

Bankers Injured in Manhattan Ferry Crash

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A commuter ferry carrying passengers to New York City from New Jersey crashed into a pier near the financial district during rush hour, sending bodies flying and injuring dozens, including two critically, police said.

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People News: Barclays, Royal Bank of Scotland

Barclays has hired Reinhard Koester as a managing director covering specialty finance companies in the United States, according to people familiar with the matter who asked not to be identified because the appointment is not yet public.

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Houlihan Lokey files for IPO

Houlihan Lokey, the independent merger-advisory firm, filed for an initial public offering as a surge in dealmaking increases demand for boutique banks.