Barclays’ J. Stuart Francis, chairman of technology banking, is leaving to join Evercore Partners as a senior managing director, joining a line of bankers exiting the firm.
U.S. authorities are ratcheting up pressure on Credit Suisse to plead guilty to helping wealthy Americans hide untaxed money in Swiss bank accounts, Swiss newspaper NZZ am Sonntag said.
U.S. Attorney General Eric Holder said his department is readying criminal cases against banks that show financial institutions aren’t too big to prosecute.
Stephen Mack remembers the conversation well. He had traveled to his parents’ home for Thanksgiving and was talking with his father, John Mack, the former chairman and chief executive of Morgan Stanley.
A major proxy advisory firm recommended shareholders vote against Goldman Sachs's executive compensation plan, and added that Morgan Stanley was also paying its top staff too much.
Warren Buffett, who invested $5bn in Bank of America, said he’s confident the lender will overcome an accounting mistake that forced the firm to suspend an increased payout to shareholders.
Credit Suisse, facing the prospect of U.S. criminal charges for aiding Americans’ tax evasion, created a separate legal entity late last year to house the businesses involved.
An activist investor has just bought the most expensive residential property in the country.
Barclays has given up two stories of prime office space in Singapore’s financial district, which has been leased to LinkedIn, people familiar with the matter said.
U.S. prosecutors plan to drop two securities fraud charges against former Galleon Group hedge fund portfolio manager Rengan Rajaratnam, the younger brother of Raj Rajaratnam, who founded the firm and was convicted of insider trading in 2011.
The City regulator has defended its decision to drop a review into banking culture, and insisted the Treasury did not use its influence to encourage a softer approach towards the industry.
By eight o’clock on a typical Monday morning Jane Foley, senior currency strategist at Rabobank, will have been at her desk for nearly two hours preparing for her clients and keeping an eye on the markets. She will also have had to squeeze in a couple of live interviews, providing expert commentary for broadcasters from Sky to Bloomberg and the BBC.
The world’s 400 richest people lost almost $194bn last week as world stock markets began the year with a shudder on poor economic data in China and falling oil prices.