A bold early move.
Citigroup today announced a series of repositioning actions that will further reduce expenses and improve efficiency across the company while maintaining Citi's unique capabilities to serve clients, especially in the emerging markets. These actions will result in increased business efficiency, streamlined operations and an optimized consumer footprint across geographies.
HSBC has insisted it remains committed to China, even as it continued its retrenchment from insurance by selling off its 15.6% stake in Chinese insurer Ping An for $9.4bn (£5.8bn).
Why does it always have to be a banker ?
LinkedIn has released its list of the most overused buzzwords on LinkedIn Profiles, and for the second year in a row, 'creative' tops the list.
Global banking, a model promoted for more than 30 years by financial conglomerates cobbled together through cross-border mergers, is colliding with the post-crisis reality of stricter national regulation.
A former Rochdale Securities trader was arrested on wire fraud charges in connection with an unauthorized $1bn purchase of Apple stock that backfired, costing his company $5m, the U.S. said.
JPMorgan said it is recasting responsibilities of some of its executives in corporate and investment banking after deciding in July to put two key business segments into one.
John Paulson, manager of $20bn in hedge funds, told investors that the bulk of his losses this year came on bets that the European sovereign-debt crisis would worsen, according to a person familiar with the matter.
Bloomberg TV's Julianna Goldman spoke with President Obama Tuesday to discuss the fiscal cliff and his efforts to compromise with Republican leaders.
Goldman Sachs is to play a key role in selling off the taxpayer stakes in Royal Bank of Scotland and Lloyds Banking Group.
A trader and salesman in Deutsche Bank’s commercial-mortgage backed securities group in the U.S. have departed, according to two people with knowledge of the situation.
The U.S. Securities and Exchange Commission alleged that 36 underwriters, including Wall Street’s biggest banks, sold bonds for municipalities that failed to make adequate financial disclosures to investors.