Citigroup will sell its emerging-markets private-equity unit to the Rohatyn Group to comply with new curbs on risky bank investments. Terms weren’t disclosed.
JPMorgan Chase’s Bear Stearns Asset Management has won dismissal of a lawsuit by Bank of America Corp. over a collateralized debt obligation transaction that resulted in billions of dollars in losses.
French bank stocks have been the picks of Europe over the past year, outperforming the sector .SX7P by around 30% after shedding risky assets and boosting their capital defenses.
Consolidation in the banking industry is inevitable as the costs of litigation and a raft of new rules change the economics of the financial services industry, he predicts.
Nomura has hired Mei-yu Shih from Bank of America to run equity sales and trading in Taiwan as Japan’s biggest brokerage overhauls its Asia equities business.
Barclays has said investors need to be on its share register by 13th September to qualify for the launch of its £5.8bn rights issue.
In 2003, a research company met with J. Ezra Merkin, a prominent Wall Street financier who had earned a fortune investing his clients’ money with Bernie Madoff.
Mike Whitehead has joined Bank of America's GTS EMEA as head of Financial Institution (FI), Non-Bank Financial Institution (NBFI) and Public Sector Sales.
Daiwa Capital Markets has hired Philip Brewer as London-based Executive Director in its Fixed Income Division. He will be responsible for co-ordinating the firm’s e-commerce operations for Fixed Income products across e-trading platforms.
JPMorgan Chase has agreed to pay $18.3m to settle claims that its Bear Stearns unit failed to disclose the actual interest rates on adjustable-rate mortgage documents.
JPMorgan is set to pay almost a third of a $1.86bn settlement to resolve accusations that a dozen big banks conspired to limit competition in the credit-default swaps market, according to people briefed on terms of the deal.
Morgan Stanley rewarded Ted Pick for taking the firm’s equity-trading business to the top spot globally and put Dan Simkowitz in charge of spurring growth in its investment-management unit.
The U.S. Department of Labor on Thursday said it granted Credit Suisse an exemption from certain restrictions stemming from its guilty plea to helping Americans evade taxes, effectively allowing the bank to continue to manage $2bn in U.S. retirement money.