Top firm to give more cash upfront.
The US electronic stock-trading business continues to retrench
RBS seeking bids within the next 2 weeks.
Switzerland should adopt stricter capital requirements for UBS and Credit Suisse following the introduction of tighter rules in the U.S. and the U.K., a government-appointed panel recommended, concluding a yearlong review of measures to avoid bailouts.
Germany’s financial regulator found no evidence during a two-year probe that Deutsche Bank co-Chief Executive Officer Anshu Jain knew about or participated in possible interest rate manipulation, newspaper Handelsblatt reported.
Credit Suisse is considering scaling down its prime brokerage business as part of already announced efforts to reduce risk in its investment banking division, a person familiar with the matter told Reuters.
Three ex-ICAP brokers pleaded not guilty to conspiring with traders at UBS and Citigroup to manipulate benchmark interest rates tied to the Japanese yen.
A market cap of $285.5bn.
For much of the last two decades, bankers advising big companies have watched ruefully as they lost their once-dominant position on Wall Street to powerful traders.
UBS, facing the threat of competition from Google and Amazon.com, has turned to a Singapore-based technology company that uses artificial intelligence for help delivering personalized advice to the bank’s wealthy clients.
Citigroup and Bank of America offer significant value and could double in value over the next two years, Dick Bove told CNBC on Thursday.
Bank of America Merrill Lynch said Burri Rao-Kathi, its head of Americas equity-linked capital markets, has decided to leave the company and named Shiv Vasisht in the role.
Continued fallout from energy loans and sliding banking revenue could have disparate impact at other big banks.