The eurozone crisis will not go away. More than nine out of 10 risk managers at financial firms asked about the greatest threat to the financial system cite sovereign risk. In the second half of 2012, it was the biggest concern of 94% of those asked by the Bank of England, while 77% were most worried about the risk of the economic downturn.
Bank of America has been sued by investors over $261.2m worth of residential mortgage-backed securities.
Millions of dollars in penalties slapped on some of the world’s biggest banks, including JPMorgan Chase, by U.S. regulators are the result of policing powers established after the 2001 collapse of Enron Corp.
Joseph Collins, Refco Inc.’s former outside lawyer whose 2009 fraud conviction was reversed in January, was again found guilty by a jury in federal court in Manhattan.
The shadow banking industry has grown to about $67 trillion, $6 trillion bigger than previously thought, leading global regulators to seek more oversight of financial transactions that fall outside traditional oversight.
Wall Street is preparing to take a financial hit when Dodd-Frank takes effect -- and that may mean that rules intended to bolster the U.S. financial system could instead undermine it.
Citigroup is on track to cut 300 sales and trading jobs globally this year, as part of its plan to streamline its banking operations, the Wall Street Journal reported, citing people briefed on the process.
Deutsche Bank co-Chief Executive Officers Anshu Jain and Juergen Fitschen said they share duties using a 'first call' system for matters that need to be escalated within the bank, while both providing pressing counsel to clients and politicians.
Oliver Pawle, the former vice-chairman of UBS’s investment bank, is working on a scheme to persuade highly paid bankers to donate 10% of their salaries to charity and to get banks to reveal how many of their staff are doing so.
Barclays did not make any 'illegal payment' to win a banking license in Saudi Arabia, the bank said in a statement in response to a newspaper report last week that said U.S. authorities were looking at whether improper payments were made
'My primary driver in everything that I did was about doing a really good job'.
The Bank Workers Charity has always encouraged healthy living for everyone in the workplace, and has a number of resources available for anybody who wants to make a healthy change in their life.
Few men ever master Wall Street. Jimmy Lee did.