JPMorgan Chase, the biggest U.S. bank by assets, reclaimed the No. 1 title by market value as the impact of last year’s wrong-way bet on derivatives fades and investors wager on an investment-banking rebound.
Citigroup has renamed an internal hedge-fund unit Napier Park Global Capital as it spins out the business with about $6.8bn in holdings under management.
When an outside analysis uncovered serious flaws with thousands of home loans, JPMorgan Chase executives found an easy fix.
In total RBS, Barclays and UBS will pay nearly $3 billion in fines stemming from the multi-year practice of artificially suppressing these benchmark interest rates, a practice that spanned the financial crisis and beyond. While the fines vary, the charges are becoming more egregious.
One former Standard & Poor’s analyst who told his bosses that they shouldn’t weaken their standards to win more business finds himself at the heart of the U.S. Justice Department’s $5bn case against the ratings firm.
The U.S. Commodity Futures Trading Commission has the following examples of what went down as RBS traders (and others) set about rigging global interest rates.
James Gorman, Chairman and CEO of Morgan Stanley, will have less time to boost the bank’s stock price if he wants to reap big profits from his annual bonus.
Credit Suisse may award less in asset-linked bonds to employees for 2012 than it paid out under a similar compensation plan the previous year as part of bonuses.
In May 2007, Standard & Poor’s confirmed its initial AAA ratings on $772m of a collateralized debt obligation known as Octonion I. Within 10 months, the Citigroup deal defaulted, costing investors and the bank almost all their money.
"It's just amazing how Libor fixing can make you that much money," declared one Royal Bank of Scotland trader in 2007. It's also amazing how long senior management at RBS took to fix the bank's Libor controls once the rotten stench emerged.
What chance do you have if you are asked these at interview ?
The U.S. is expanding an investigation into deceptive sales practices by bond traders even though the first major conviction in the area could be overturned.
From snail-shaped homes to rotating sun-catching buildings, these 20 architectural achievements must been seen to be believed!