On March 30, six of Wall Street’s major banks - Bank of America Merrill Lynch, Barclays, Citi, Goldman Sachs, Deutsche Bank and Morgan Stanley — joined together at 'Out on the Street', a summit convened to discuss issues vital to the lesbian, gay bisexual and transgender (LGBT) community.
Bloomberg reports that Bank of America CEO Brian Moynihan saw his 2010 compensation cut 70% to $1.94m.
By Paul Allen
We thought we'd take a quick look at those traders whose unauthorized actions have led to their firms incurring substantial losses, or worse - losses caused as a result of a foul-up.
By William D. Cohan
Our Jamie (JPMorgan Chase CEO Jamie Dimon) was at the US Chamber of Commerce this week, giving the authorities both barrels as usual.
New York City's Mayor Bloomberg was rubbing his hands in anticipation Wednesday, excited at the prospect that UK bank Barclays was mulling over a change of domicile to the United States (and by definition his city)
The following is the text of a news release issued today by Berkshire Hathaway Inc, which announced the resignation of David Sokol from the company, a man tipped by many to lead the firm once Warren Buffett stepped down.
The London Evening Standard's 'City Spy' column runs an interesting item Wednesday:
The Financial Times reports that London-based Man Group, the world's largest publicly traded hedge fund, is said to have been looking at a $2bn drop in asset values at its flagship algorithmic-based AHL fund in the days following the earthquake, tsunami and nuclear fears in Japan earlier this month.
Several Barclays executives were aware that the bank was falsely representing how algorithms in its dark pool worked and how client orders were routed, according to an amended complaint prepared by New York’s attorney general.
American Express revealed it would cut more than 4,000 jobs this year and reported quarterly revenue that beat analysts' expectations.
Ebay will lay off 2,400 positions – representing about 7% of its total number of jobs – as part of a corporate restructuring, the company announced on Wednesday.