JPMorgan CEO Jamie Dimon said on Thursday that government legal cases, including those over mortgage securities the company settled for more than $13bn, were 'unfair'.
Morgan Stanley said it will drop its remaining claims in a lawsuit against Joseph 'Chip' Skowron after a federal judge ordered the former fund manager and convicted inside trader to repay $31m in compensation.
Part of a cost-cutting initiative.
Deutsche Bank has made 2014 into a make-or-break year for co-Chief Executives Anshu Jain and Juergen Fitschen, who have stuck to ambitious targets for the bank that could be threatened by its long list of legal problems.
Goldman Sachs’ co-head of investment banking in Brazil, Fabio Bicudo, will leave the company 10 months after taking the job.
Oppenheimer Europe has announced the appointment of Lance Heatley as Managing Director, Head of Fixed Income Trading.
Sidney Gilman, the 81-year-old former University of Michigan neurologist who claims he passed tips about clinical tests of an Alzheimer’s drug to SAC Capital Advisors fund manager Mathew Martoma, said he has 'holes' in his memory of a key meeting.
UBS’s board supports the strategy of keeping the investment bank to help provide services needed by the company’s ultra-rich clients in wealth management, Chairman Axel Weber said.
Credit Suisse was sued by Li Tao, chairman of New York-listed China Green Agriculture, who claims the bank was negligent and made unauthorized trades on his behalf.
The Financial Conduct Authority (FCA) has fined Standard Bank £7,640,400 for failings relating to its anti-money laundering (AML) policies and procedures over corporate customers connected to politically exposed persons (PEPs).
Deutsche Bank’s Swiss unit agreed to pay $31m to receive a non-prosecution agreement in a U.S. probe of banks in Switzerland that helped Americans evade taxes.
“I have no idea why I was offered a contract with a bonus in it because I promise you I will not work any harder or any less hard in any year, in any day, because someone is going to pay me more or less.”
European banks are sitting on bad debts of €1tn – the equivalent to the GDP of Spain – which is holding back their profitability and ability to lend to high street customers and businesses.