Completed Distressed Debt and Bankruptcy Restructuring activity totalled US$422.6 billion over the course of 2012, a 102.5% increase compared to the US$208.6 billion accrued during 2011.
Citigroup is said to have let Richard Cookson, chief investment officer of its private bank, go, as the firm pares costs.
Former JPMorgan investment-banking chief James 'Jes' Staley is joining BlueMountain Capital, the $12 billion hedge fund, as a managing partner.
The steady drumbeat of 'you're just lucky to have a job' that played through the recession is finally starting to fade and employees may be getting ready to say, 'I quit!', and bolt for the nearest exit.
Bank of America Tuesday struck deals to settle lending complaints, sell rights to service $300bn of mortgages and repair relations with regulators. For CEO Brian Moynihan, it offers his best chance to rebuild the home lending business.
Two internal candidates have emerged in Legg Mason Inc's search for its next chief executive, said people familiar with the matter.
From John Paulson’s call for a collapse in Europe to Morgan Stanley’s warning that U.S. stocks would decline, Wall Street got little right in its prognosis for the year just ended.
Fannie Mae and Freddie Mac exacerbated the mortgage crisis and that's why the government should get out of the home loan business, former Wells Fargo CEO Richard Kovacevich told CNBC.
Ten banks will now pay $8.5 billion to borrowers for so-called "robo-signing," a fraudulent practice uncovered two years ago that sent the mortgage market into yet another tail-spin.
And as many as 3,000 jobs may have to go.
Goldman Sachs has agreed to pay around $270m to settle a lawsuit by investors who claimed the bank misled them about the safety of billions of dollars worth of residential mortgage-backed securities, two people familiar with the case said.
Sir Philip Hampton said the results released by Royal Bank of Scotland last week were like “groundhog day”.