Vikram Pandit hired thousands of employees and invested billions of dollars as he sought to boost Citigroup’s revenue after fighting to survive the financial crisis. His successor Michael Corbat has another idea: cut.
Nomura has announced the formation of Global Markets, encompassing all Fixed Income and Equities asset classes.
On top of the litany of woes that have befallen Greece, comes the news that the eurozone's weakest link is also its most corrupt.
A bold early move.
Citigroup today announced a series of repositioning actions that will further reduce expenses and improve efficiency across the company while maintaining Citi's unique capabilities to serve clients, especially in the emerging markets. These actions will result in increased business efficiency, streamlined operations and an optimized consumer footprint across geographies.
HSBC has insisted it remains committed to China, even as it continued its retrenchment from insurance by selling off its 15.6% stake in Chinese insurer Ping An for $9.4bn (£5.8bn).
Why does it always have to be a banker ?
LinkedIn has released its list of the most overused buzzwords on LinkedIn Profiles, and for the second year in a row, 'creative' tops the list.
Global banking, a model promoted for more than 30 years by financial conglomerates cobbled together through cross-border mergers, is colliding with the post-crisis reality of stricter national regulation.
A former Rochdale Securities trader was arrested on wire fraud charges in connection with an unauthorized $1bn purchase of Apple stock that backfired, costing his company $5m, the U.S. said.
Deutsche Bank’s global head of mergers and acquisitions, Henrik Aslaksen, is leaving the bank, according to people with knowledge of the matter.
The Securities and Exchange Commission has charged Kohlberg Kravis Roberts (KKR) with misallocating more than $17m in so-called 'broken deal' expenses to its flagship private equity funds in breach of its fiduciary duty.
Men are more likely to work longer hours at work, but women are more likely to complain about it.