Royal Bank of Scotland was sued by an analyst who said his mental health suffered after his bosses tried to stop him from revealing that a client allegedly falsified a cash-flow statement.
Wells Fargo left Chief Executive Officer John Stumpf’s pay unchanged at $19.3m after the firm generated a bigger profit than any other U.S. bank for a second straight year.
The asset management firm Henderson has paid its staff £143.6m [$210.6m] in bonuses for last year, increasing variable pay by more than 11% as fund inflows and profits improved.
Company leaders should embody the principles of ethical conduct, as big business remains “in the dock”, Stephen Green, the former boss of HSBC, told a City audience in his first public speech since the bank was engulfed in a tax-avoidance scandal.
The administrators of a top deep-web marketplace have disappeared with over $12m worth of the cryptocurrency Bitcoin, it emerged last night, in what appears to have been an “exit scam”.
Citibank said it will quit the custody business in Argentina after a U.S. judge refused to let the bank process local bond payments just weeks before a March 31 deadline for the nation to pay bondholders.
U.S. prosecutors investigating currency manipulation are considering revoking years-old settlements and prosecuting banks for rigging interest rates, according to people familiar with the matter.
U.K. Chancellor of the Exchequer, George Osborne, has unveiled a £22 billion ($32 billion) sale of U.K. bank assets owned by the government.
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The slowdown in dealmaking activity is poised to continue until June.
Morgan Stanley on Monday reported quarterly earnings that topped analysts' expectations, but profit more than halved as the Wall Street bank's trading and investment banking businesses took a hit from market volatility early in the year.
SMBC Nikko Securities, a unit of bank Sumitomo Mitsui Financial Group, is setting up a niche investment banking team in New York, its chief said, testing the waters of global finance just as domestic rival Nomura scales back.