Britain’s vote to leave the European Union will probably reduce global investment banks’ revenue by about $8bn and could push securities firms to exit some trading businesses, according to a report by the Boston Consulting Group.
Wells Fargo will pay about $397m to acquire a new London headquarters enabling the bank to increase its presence in the U.K. capital, according to two people familiar with the matter who asked not to be named because the details are private.
As hedge fund manager Buford Scott sat at home, watching the TV in shock as it emerged Britain had voted to leave the European Union, his computer-based trading models were quietly boosting his business by 1.5%.
Funds of hedge funds lost more than $100bn in 12 months because of outflows and poor performance, according to a new report.
Pelham Capital’s main hedge fund lost about 10% in June as the U.K.’s shock decision to exit the European Union sparked turmoil in global equity markets, according to two people with knowledge of the matter.
The commercial banking giant posted second-quarter earnings per share of 36 cents, compared to 45 cents a share in the same period a year ago.
U.S. banks got a reprieve last week when the Federal Reserve gave them one more year to comply with a Volcker Rule ban on investing in private equity and hedge funds.
A man who tweets out random facts has amassed millions of followers and now makes half a million dollars a year running the account.
Nine disputed trades that Libya's sovereign wealth fund (SWF) entered into with Goldman Sachs were unsuitable by "dint of risk and complexity", according to an expert witness at a trial in London's High Court.
One of the leading money managers in the City of London has said the fallout from Britain’s vote to leave the EU will be “horrible” and that the Square Mile is still “slightly stunned” by the result.
David Tulk, formerly head of global macro strategy at Toronto-Dominion Bank, is taking a new post at Fidelity Investments.
More needs to be done to combat financial crime, a senior lawyer at HSBC has said as he called for global collaboration over the rules imposed on banks to keep “bad actors” out of the financial system.
Standard Life Investments will re-open its property fund in October after disposing of assets during a period of suspension.