That's 4 out of every 5 positions!
Citigroup is set to make a round of redundancies within its markets and securities business in the Europe, Middle East and Africa region, according to an internal memo sent to staff Tuesday and seen by IFR.
The former UBS banker whose cooperation with the U.S. helped expose tax evasion by thousands of Americans says the bank used similar practices elsewhere and he’s eager to help European governments.
Barclays CEO Antony Jenkins’s patience is being tested by the investment bank.
The Bank of England remained on collision course with Europe over the bonus cap as a consultation was launched that would rule out the use of top-up payments to side step the clampdown on City pay.
Bank of America’s Scott Bacigalupo, head of Americas cash equity sales and trading, has become the second senior Merrill Lynch stocks veteran to depart the firm in a week.
Peter Sands, the outgoing chief executive of Standard Chartered, is waiving his bonus for 2014 after the bank reported a 30% fall in profits and embarked on further cost-cutting measures.
Tullett Prebon, the interdealer broker, has said it has made 200 people redundant on the back of difficult market conditions and falling profits.
The Bank of England’s chief currency dealer was dismissed after at least 20 violations of the institution’s internal policies were unearthed amid a review into whether central bank staff knew about currency rigging.
JPMorgan will pay $50m as part of a national settlement agreement to compensate homeowners in bankruptcy over the use of robo-signing and other improper practices, the Department of Justice said on Tuesday.
Hedge funds and private equity firms took the least amount of office space in central London since the start of 2012 in the first quarter, according to broker Cushman & Wakefield, as sputtering global growth and increased regulation deterred startups.
Fresh doubt has been cast on the ability of George Osborne to sell off the state’s remaining stake in Royal Bank of Scotland at a profit following remarks by the outgoing head of the Treasury.
Deutsche Bank has reached a settlement in a lawsuit over allegations it manipulated silver futures prices, lawyers for traders said in a court filing.