Page 1739 


Is UBS Set To Reward Failure ?

UBS Fractured

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.

Hedge Fund Founder Faces The Music


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.

More Job Loss / Cost Cutting News

Pair Of Scissors

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.



HSBC Canary Wharf

HSBC thought needed to announce bold changes

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.