Wall Street’s smaller stock traders are throwing in the towel as their fees fail to recover from a three-year slump in equity volume and a shift to computer-driven transactions.
Bank of America Corp hired veteran China banker Margaret Ren as chairman of its China business, a memo obtained by Reuters on Tuesday showed, bringing her back into the Merrill fold at a time when the bank is trying to expand its business inside the country.
Former SEC chief Harvey Pitt told CNBC Wednesday that the commission should investigate the surprise departure of CEO Vikram Pandit from Citigroup, since there were no hints given on the bank's earnings call the day before.
Josh Birnbaum, the former Goldman Sachs trader instrumental in the bank’s bet against the U.S subprime mortgage market in 2007, posted a 30% gain this year in his hedge fund, according to a person familiar with the matter.
Barclays has experienced higher than previously anticipated levels of Payment Protection Insurance ('PPI') claim volumes since the end of the first half, and has therefore determined that it is appropriate to provide a further $1.12bn as at 30 September 2012.
One of the world's most experienced financial regulators has warned the government that its planned legislation to protect the public from another banking crash is flawed.
It's very difficult to write about suicide because, as the Samaritans say, a fine line remains between sensitive, intelligent reporting and sensationalising the issue. This is pertinent today, as the name has now been released of the fourth financial services professional to have jumped to his death (last Thursday) from the roof terrace of a well-known London restaurant.
Morgan Stanley, the top global equity underwriter this year, reported earnings that beat analysts’ estimates as revenue from fixed-income trading climbed from a year earlier.
Michael Mayo, an analyst who has spent the past five years telling investors to sell Citigroup’s stock, reversed his stance after the board replaced Vikram Pandit as CEO Tuesday.
Barclays executive Tom Hamilton, who oversaw the second-ranked underwriter of structured-finance deals, is leaving his position.
HSBC said it was 'monitoring the developments' in Greece after the country imposed capital controls and shut banks to avert financial collapse. HSBC’s $6bn of Greek assets is the most among European banks.
Deutsche Bank said co-Chief Executive Officer Anshu Jain didn’t mislead Germany’s central bank during an investigation of Libor rigging.
Bill Gross is here for his favourite doughnut, the cake one with coconut frosting, but he’s not going to get it, not today.