Martin Blessing, who led Commerzbank for seven years, won’t extend his contract when it expires in 2016, becoming the latest CEO to join an unprecedented wave of management changes at Europe’s banks.
UniCredit's new business plan envisages 12,000 job cuts worldwide, a source close to the matter said on Friday, indicating a larger reduction compared with 10,000 layoffs that had been expected.
Bank of America traders posted trading revenue on every business day of the third quarter, the first three-month period without a daily loss since the start of 2014, even as total trading revenue declined.
U.S. banks have crossed a significant post-financial crisis milestone, tallying more $200 billion in fines paid out regarding questionable behavior.
HSBC has warned that the outcome of its review of whether to remain based in London could be delayed beyond the end of this year, as it reported a rise in profits because of a fall in fines and legal costs.
Two mainstays of the private equity industry, Apax and TPG, found themselves in a European court last week in a legal dispute that thrust the workings of buyout groups into the spotlight.
Anshu Jain spent two decades turning Deutsche Bank into a global investment-banking behemoth. Now the lender is cutting its client list in half and pulling out of countries around the world.
Royal Bank of Scotland has said the loss at its investment bank almost doubled as CEO Ross McEwan dismantles the division and scales back trading businesses amid lingering costs for litigation.
Vinay Pande, a partner at Brevan Howard Asset Management, is leaving the hedge fund firm, according to two people familiar with the matter.
Dividend cuts, pay restraint and thousands of job cuts.
The jury on the most recent Libor case to go to court in the UK has arrived at a verdict for three of the men charged, but is still deliberating on the other two defendants.
Moody’s has downgraded its outlook for eight UK banks and building societies after last week’s Brexit vote.
One of the City's top lobbyists is in talks with the SNP on making Edinburgh a financial services powerhouse after Scottish first minister Nicola Sturgeon pledged to secure access to the European single market.