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Warning about higher base salaries

Bank Of England Building

Regulations surrounding bankers' pay, particularly the EU bonus cap, have lead to fixed salaries representing a higher proportion of total pay packets, meaning financial institutions are less capable of reacting to a downturn, the Bank of England has warned.

Jefferies sees fixed income trading fall

Jefferies Logo

Jefferies Group whose trading results are seen as a bellwether for Wall Street firms, said fourth-quarter revenue from that business fell 36% as fixed-income sank for a fourth straight quarter.

Julius Baer agrees to buy Commerzbank in Luxembourg

Swiss Flag

Julius Baer has announced that it has agreed to acquire Commerzbank International SA Luxembourg (‘CISAL’), a well-established and fully-licensed private banking franchise with close to EUR 3bn ($3.23bn) assets under management, from Commerzbank.