Here's the latest from our Highly Placed Professional.
Here's the latest hiring news from around the financial markets.
Goldman Sachs Group Inc., the fifth-biggest U.S. bank by assets, received a subpoena from the Manhattan District Attorney’s office seeking information on the firm’s activities leading into the credit crisis, according to two people familiar with the matter.
Hong Kong/Shanghai – Citigroup and Orient Securities Company Ltd today signed definitive agreements, subject to regulatory approval, establishing a securities joint venture to operate in the Chinese domestic market.
The Financial Industry Regulatory Authority (FINRA) has announced that it has fined Northern Trust Securities $600,000 for deficiencies in supervising sales of collateralized mortgage obligations (CMOs) and failure to have adequate systems in place to monitor certain high-volume securities trades.
The 'too big to fail' issue appears to have morphed into a 'too big to be prosecuted' problem now, as a leading analyst has suggested that even if US prosecutors identify that Goldman Sachs may have violated the law, criminal charges are unlikely.
Here's the latest from Cityboy.
Reuters reports that Citi has lured three senior investment bankers away from UBS.
by Jesse Eisinger, ProPublica.
The combined domestic banking assets of the 'E7' emerging economies of China, India, Brazil, Russia, Mexico, Indonesia and Turkey will exceed those in the 'G7' countries sooner than predicted before the financial crisis, according to PwC’s ‘Banking in 2050’ report. The G7 comprises the US, Japan, Germany, the UK, France, Italy and Canada.
Icap, the international money broker run by former Conversative party chairman Michael Spencer, has reacted angrily to a €14.9m (£11.3m) fine from the European commission for rigging Libor.
Royal Bank of Scotland, Barclays and Lloyds were downgraded by ratings agency Standard & Poor's on Tuesday amid fears the UK government will refuse to offer them financial support in the event of another crisis.
JPMorgan Chase has agreed to pay $500 million to end more than six years of class action litigation over Bear Stearns' sale of $17.58 billion of mortgage securities that proved defective during the U.S. housing and financial crises.