JPMorgan named James C. Ferguson to run the unit that helps private-equity and hedge funds with accounting, valuation and other administrative tasks after trades.
Citigroup Chief Financial Officer John Gerspach said revenue from fixed-income and equities trading will decline by 'mid- to high-single' digits in the first quarter from a year earlier.
Bill Gross, the money manager who jumped to Janus Capital in September from the bond giant he co-founded, said he’ll keep trading for the next two to four years to prove he can still beat the market.
Despite producing an average return of 3.3 percent last year, the hedge fund industry is on track to surpass $3 trillion in assets this year, according to a new survey by Deutsche Bank.
UBS plans to scale back its wealth-management activities in Moscow that serve clients who deposit their funds offshore as the bank streamlines operations in some emerging markets, according to two people with knowledge of the decision.
Goldman Sachs is reducing the size of its investment-banking team in Singapore by about 30% compared with the start of the year, people with knowledge of the matter said.
Barclays paid CEO Antony Jenkins his first bonus since taking the job in 2012 as the bank reported an increase in annual profit.
Finally, young bankers are feeling the love.
But still likely to provoke a row.
Barclays delivered pre-tax profit for last year that beat market expectations, as it set aside more money for potential fines.
Wholesale markets are expected to continue being extremely tough for European and U.S. investment banks, as the forthcoming earnings season is likely to reveal.
Libor was "nothing special" and of "negligible importance" to one of the ex-Barclays traders on trial on charges of conspiracy to manipulate the global financial benchmark, a London court heard on Monday.
Goldman Sachs will pay $5.06bn for its role in the 2008 financial crisis, the US Department of Justice said on Monday. The settlement, over the sale of mortgage-backed securities from 2005 to 2007, was first announced in January.