Bloomberg reports that Bank of America CEO Brian Moynihan has confirmed that the firm is still working through its Fannie and Freddie problems, despite already agreeing to pay $3bn to settle mortgage 'put back' claims.
Dow Jones Newswires reports that a confident Josef Ackermann, Deutsche Bank's CEO, told those attending his bank's annual meeting Thursday that he had 'the feeling' that it wouldn't be too long before Deutsche caught up with Goldman Sachs in the investment banking league tables.
HSBC is in the news today thanks to a letter sent out by an executive appeared to imply that the bank's legal department adopted a nepotistic work experience policy.
Australia M&A Up 84%
The Securities and Exchange Commission has charged a former Managing Director of The NASDAQ Stock Market with insider trading on confidential information that he stole while working in a market intelligence unit that communicates with companies in advance of market-moving public announcements.
The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Credit Suisse Securities (USA) LLC $4.5 million, and Merrill Lynch $3 million for misrepresenting delinquency data and inadequate supervision in connection with the issuance of residential subprime mortgage securitizations (RMBS).
Dominique Strauss-Kahn, the former head of the International Monetary Fund, moved into a new Manhattan building, where he will be confined under guard while awaiting trial on charges of attempted rape and sexual assault. Bloomberg's Sara Eisen reports.
Jefferies has announced that it has picked up 11 awards in the recently announced Financial Times / StarMine 2011 Equity Research Analyst Awards. These industry analyst awards follow Jefferies’ #1 broker ranking for U.S. stock picking announced by Financial Times / StarMine in March of this year.
You could almost feel the excitement building in the ranks over at UBS Investment Bank, as word spread that rumours were flying that the unit might be spun-off, given its own capital and domiciled outside of Switzerland.
Only young, wet-behind-the-ears candidates need apply.