JP Morgan boss Jamie Dimon blamed the bank's $2bn-plus trading losses on 'poorly conceived' strategies of senior executives who failed to keep him informed, as he escaped largely unscathed Wednesday from a Senate banking committee hearing set up to investigate the affair.
Lazard has announced that it has elected Richard Parsons to the firm’s Board of Directors, effective immediately.
Few large eurozone banks would be left standing and the banking sector could face a €370bn (£298bn) lossif the euro crisis results in the single currency bloc breaking apart, according to one of the first indepth analyses of what might happen if the eurozone disintegrates.
In this environment, costs are King.
The truth is sometimes stranger than fiction.
Columbia University is facing accusations of a conflict of interest relating to the role of its president in cheerleading for the boss of JP Morgan Chase, one of Columbia's most generous financial backers.
Thomson Reuters has announced the 2012 Extel Survey results.
A deal worth at least £10m between banking giant Goldman Sachs and the head of HM Revenue and Customs is set to be challenged in the high court on Wednesday by tax-avoidance campaign group, UK Uncut Legal Action.
ING Bank N.V. has agreed to forfeit $619m to the U.S. Justice Department and the New York County District Attorney’s Office for conspiring to violate the International Emergency Economic Powers Act (IEEPA) and the Trading with the Enemy Act (TWEA) and for violating New York state laws by illegally moving billions of dollars through the U.S. financial system on behalf of sanctioned Cuban and Iranian entities.
Financial-services firms in Canary Wharf say they expect a third of their staff to stay home or travel outside peak hours when spectators begin piling on to east London’s transport network to get to the Olympic Games.
Credit Suisse has appointed Mike Paliotta as global head of prime services, replacing departing Paul Germain, according to two memos.
JPMorgan has lost another bid to reclaim security it gave up by mistake on a $1.5bn loan to General Motors’ bankrupt predecessor.
One closely-watched financial analyst has launched a scathing attack on the country's finances and predicted another crisis for its currency.