We hoped for the best, but feared the worst.
Swiss newspaper Neue Zuercher Zeitung has reported that UBS is now aiming to appoint a new Group CEO ahead of its investor day on November 17th.
CIT Group Chairman & CEO John Thain spoke with FOX Business Network’s (FBN) Neil Cavuto about selling Merrill Lynch to Bank of America, saying the acquisition 'was a very good one' for both sides and 'if you look at where their earnings are coming from today, the vast majority of their earnings are coming from the pieces that were Merrill Lynch'.
Here's something from Raymond James analyst Patrick O’Shaughnessy which appeared in The New York Post on the subject of MF Global.
Here's a list of 11 firms which could buy some or all of MF Global.
Here's a few links to some interesting Bloomberg and CNBC stories currently doing the rounds.
Another day, another firm wielding the job axe. And pay cuts and industry consolidation too.
Swiss private bank Julius Baer had 'reacted swiftly' to the recent appreciation of the Swiss currency by launching a cost savings program worth around 100 million Swiss franc ($108.03 million), the lender's CEO told CNBC.
German and British regulators are examining Deutsche Bank’s systems and controls as questions have again arisen about the German lender’s reporting procedures.
He used over £2 million of investors’ money to fund his lifestyle. He spent over £1 million in a casino, over £200,000 on designer watches and shoes, £60,000 on foreign travel, and over £600,000 in bars and nightclubs in London, Miami and New York.