UBS Investment Bank co-head Carsten Kengeter leaves CEO Sergio Ermotti's top team to lead the winding down of fixed-income activities that are no longer profitable due to stricter capital rules on riskier business introduced after the financial crisis.
Morgan Stanley lost money in that business on eight days in the period, down from 31 days a year earlier.
Hires 18 Investment Representatives across eight offices in the US
Almost two years ago, Level Global Investors LP and Diamondback Capital Management LLC were among four hedge funds raided by the Federal Bureau of Investigation as part of a nationwide crackdown on insider trading.
The hits are coming thick and fast now.
ING Groep NV, the biggest Dutch financial-services company, will cut 2,350 jobs in its banking and insurance units after reporting a 64% drop in third- quarter profit.
BNP Paribas said third-quarter profit more than doubled after it posted higher revenue at the investment-banking unit.
Commerzbank has won the chance to appeal a U.K. court ruling forcing it to pay about $64m in bonuses to 104 Dresdner Kleinwort bankers.
Citigroup received requests for information from the Monetary Authority of Singapore related to probes into the rigging of key benchmarks used to set loan rates.
Christos Bagios, a former banker at UBS and Credit Suisse arrested amid a U.S. crackdown on offshore tax evasion, pleaded guilty to helping Americans cheat on taxes from 1993 to 2009.
The City of London could see 39,000 jobs created over the next decade if economic and regulatory conditions remain favourable, said a local government body that oversees Britain’s main financial district.
No longer feared as 'too big to fail', shareholders are weighing whether HSBC is now 'too big to succeed', and want to know next week how the bank's bosses propose to increase profitability at a sprawling group beset by huge costs.
Tom Hayes, the trader accused of trying to rig a key interest rate behind trillions of dollars in financial deals, was allowed to keep a £2.2m bonus after he was sacked by his bank for “attempting to manipulate” the financial markets.