Goldman Sachs is shaking up its technology, media and telecommunications investment banking group, according to internal memos.
Deutsche Bank will review whether to punish senior employees for their roles in the interest-rate rigging scandal, according to a person with knowledge of the matter.
JP Morgan bankers raised concerns about Bernard Madoff 10 years before the fraudster was arrested over a $65bn Ponzi scheme.
As global investment banks and their corporate clients continue to navigate the post-2008 macroeconomic and regulatory environment, 2013 offered a stark contrast between the booming capital markets and the continued moderation of corporate deal making.
It's tough at the top.
A former Morgan Stanley broker who claimed that he was unfairly terminated for running for a seat in the Illinois House of Representatives has been awarded $525,000 from a Finra arbitration panel.
Fabrice Tourre, the former Goldman Sachs VP who was found liable for defrauding investors over a failed mortgage transaction, has failed to persuade a federal judge to dismiss the case or give him a new trial.
A former high-ranking UBS banker charged with helping Americans dodge taxes through secret Swiss bank accounts pleaded not guilty on Tuesday to fraud conspiracy charges linked to a U.S. tax evasion investigation that shook Swiss banking to the core.
Citigroup, which is scaling back illiquid investments to comply with rules that limit risk-taking by banks, may sell about $1bn in holdings managed by its former private-equity business, according to five people familiar with the matter.
The trustee unwinding Bernard Madoff’s fraud has recovered more than $10bn for victims five years after the biggest Ponzi scheme collapsed, including $543m Tuesday from Madoff’s bank, JPMorgan.
Bank of America will post a $600m pretax writedown in the fourth quarter as it redeems $2bn of trust preferred securities tied to its 2009 acquisition of Merrill Lynch.
Barclays will pay more than $13.75m to settle U.S. regulatory charges that it let retail brokerage customers make unsuitable mutual fund transactions, including more than 6,100 fund switches, over a five-year period.
Swiss private bank Julius Baer said it has set aside nearly $200m in additional provisions to settle a U.S. criminal investigation that it helped wealthy American clients dodge taxes.