Kweku Adoboli, the former UBS trader accused of causing the largest unauthorized trading loss in British history, said he booked fake trades to hide profits and losses on real transactions and others on his desk knew what he was doing and helped him.
A former JPMorgan Chase commodities trader, fired for mispricing aluminum trades, lost a lawsuit against the bank when a London judge ruled he couldn’t explain why the errors had all been profitable.
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Deutsche Bank outperformed UBS and Barclays in securities sales in the third quarter as it sought to shrug off Europe’s debt crisis and remain one of the top three global investment banks.
Adam Smith would be the perfect expert witness in the case being brought by Guardian Care Homes (nothing to do with this newspaper) against Barclays Bank, which has its first hearing in the high court on Monday.
Citigroup and Goldman Sachs are among Wall Street firms planning to shift operations to other cities and have staff work from home as Hurricane Sandy’s arrival in New York forces evacuations.
Here’s the email from Goldman’s Chief Administrative Officer, Jeffrey W. Schroeder, on Hurricane Sandy sent to staff Sunday night.
Here's the email Citi's Office of Emergency Management sent to staff Sunday on the subject of Hurricane Sandy.
It is one of the world's largest hedge funds, with $121bn under management, but its name is virtually unknown in financial circles. Braeburn Capital is not operated from the top floor of a Manhattan skyscraper or a plush Mayfair townhouse. It is located in a quiet suburb of Nevada's capital, Reno, and it belongs to Apple.
The Bank of England's handling of the financial crisis will face fresh scrutiny this week when three reviews commissioned by the central bank are expected to be published.
Emolument.com has analysed 2015 salary data from 84 middle & back office VP working in Financial Services in London.
Bank of America and Deutsche Bank tried to hire Thomas Hayes after he was fired by Citigroup in 2010, the trader told investigators. But those efforts were dropped after the reasons for his dismissal came out.
Barclays may fetch $150m to $250m for its U.S. wealth unit, according to analysts at Credit Suisse.