JPMorgan investment bank chairman James E. "Jes" Staley is plotting his next move. Baltimore asset manager Legg Mason approached Staley to discuss its CEO position earlier this fall, but talks are said to have fallen apart in the last month, according to people familiar with the matter.
The Securities and Exchange Commission has charged an investment banker who was primarily based in Charlotte, N.C., and nine others involved in an insider trading ring that garnered more than $11m in illicit profits trading on confidential information about impending mergers.
Citigroup's plan to lay off 11,000 employees in a restructuring effort was a step in the right direction, analyst Mike Mayo said Wednesday on CNBC.
Major banks could be forced to participate in the panels that set benchmark interest rates if not enough of them step forward to provide prices to Libor, according to proposals being floated by the Financial Services Authority.
Just the start of the next round of layoffs ?
A former UBS banker who became a whistleblower sued Igor Olenicoff over the California billionaire’s failed lawsuit blaming the banker for his guilty plea to filing a false tax return.
HSBC Holdings might pay a fine of $1.8 billion as part of a settlement with U.S. law-enforcement agencies over money-laundering lapses, according to several people familiar with the matter.
Following Citigroup's announcement that it would cut 11,000 jobs and restructure its businesses, CFO John Gerspach told analysts and investors the move was a "fairly comprehensive initial foray" into its new strategy.
Telecoms giant AT&T has been fined a record $100m for misleading consumers about the carrier’s “unlimited data” plans, plans that in fact capped data and slowed speeds by up to 90% after users topped 5GB of data in a month.
António Horta-Osório, the boss of Lloyds Banking Group, will on Thursday tell his fellow bankers to stop complaining about the wave of regulatory changes being imposed on the industry.