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BNY Mellon results hit by legal costs


BNY Mellon has said it included an additional after-tax legal expense of $598m to its reported fourth-quarter results, anticipating resolution of foreign exchange-related actions and other matters.

Nomura reogranizes asset management units

Nomura Logo

Nomura has announced plans to reorganize three core companies in its Asset Management division: Nomura Asset Management (NAM), Nomura Funds Research and Technologies (NFR&T), and Nomura Private Equity Capital (NPEC).

FXCM to drop currencies with volatility risk

Swiss Flag

FXCM, the foreign currency broker hammered by the Swiss National Bank's decision to remove its cap on the franc's value last month, will stop trading selected currencies this week to protect against potential volatility caused by future central bank moves.

Pay - Asset managers up, bankers down

Gold Bar And Coins

Bankers' pay have come under renewed scrutiny following the storm surrounding the European Union's move to cap bonuses , but a new report shows that around the world pay at the big institutions has fallen sharply since the onset of the financial crisis - while asset manager salaries have climbed steadily.