JPMorgan has cut the amount earmarked for compensation by 22% to $2.01bn in the second quarter as the division generated 7% less revenue.
JPMorgan Chase reasserted attorney-client privilege as the reason it will not hand over emails to U.S. regulators investigating the bank for possible electricity market manipulation, according to court documents filed on Friday.
Here Is The City's readership has spoken.
Warren Buffett co-hosted Bloomberg TV’s 'In the Loop' with Betty Liu last week, where he discussed the U.S. economy, JPMorgan, Wells Fargo, Bank of America and other Berkshire Hathaway holdings.
And it's not Barclays.
Barclays has promised key executives and clients that it will protect its investment bank, despite the reputational damage caused by the Libor- rigging scandal and the resignation of the Chief Executive, Bob Diamond.
JPMorgan’s claim that it found possible employee intent to misprice trades in a unit that lost $5.8bn may put distance between management and any wrongdoers while providing a road map for U.S. investigators.
Libor investigations on both sides of the Atlantic intensified as Barclays traders could face possible U.S. charges by September and British lawmakers may use hearings this week to expand their inquiry to other banks tied to the global financial scandal.
Citigroup CEO Vikram Pandit was quoted as saying on Sunday that Britain's plans to separate retail and investment banks were unnecessary as a series of measures to safeguard against failed banks was already being put in place.
Deutsche Bank may escape with a lighter penalty than other banks in Europe if investigators impose fines in the wake of an interest rate-rigging scandal, two sources familiar with the bank told Reuters on Sunday.
The UK’s big four high-street banks face another £19bn of conduct and litigation charges by the end of 2016 as they continue to pay the price for past mistakes, according to analysts.
These 10 companies are leading the way when it comes to diversity as a cultural and business aim, according to an annual ranking from DiversityInc.
Brady Dougan, the first American to serve as sole chief executive officer of Credit Suisse, said that there were times when he wished he had considered that fact more before taking on the job.