The wolf is still on Wall Street.
Christian Bittar, the former Deutsche Bank trader caught-up in benchmark rigging probes, has sued the U.K. Financial Conduct Authority weeks after his former employer reached a $352m settlement over Libor.
After decades of swallowing up their smaller competitors, pressure is on for warehouse financial institutions to start divesting their businesses.
The Department of Justice will announce a currency manipulation settlement with some major international banks as early as Wednesday, with certain bank holding companies expected to plead guilty to rigging foreign exchange markets.
'It is at an early stage, with no decisions made'.
Sad to report.
'I'm a big fan of the gap year'.
Wall Street has changed. But perhaps not as much as you would think.
When global bond investors lost more than $400bn in one week this month, Koon Chow, a Union Bancaire Privee currency strategist, asked sales contacts at banks about the impact on foreign-exchange markets. He didn’t get much help.
Revenue from investment banking will tumble during the second quarter from a year earlier, according to a JPMorgan analysis of top firms.
Morgan Stanley’s fixed-income and commodities business is capable of generating $4bn in annual revenue after the firm cut the operation in recent years amid an industrywide slump, Chief Executive Officer James Gorman said.
Goldman Sachs and an Australian hedge fund agreed to end a $1bn lawsuit over the sale of mortgage-linked securities, including an investment known as “Timberwolf” that became a symbol of the financial crisis after it was cited in internal e-mails released by U.S. lawmakers.