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Bank Boss Bites Back

Stephen Hester

Royal Bank of Scotland CEO Stephen Hester wasn't prepared to take it on the chin Wednesday, when he appeared before the UK Public Accounts Select Committee.

Goldman Announces Indian Acquisition

Goldman Sachs Asset Management has announced it has agreed to acquire Benchmark Asset Management Company, an asset management company in India. The transaction is expected to close later in the year, subject to regulatory approvals. The terms of the transaction were not disclosed.

No Time To Be A 'Hero' - Foreign Bankers Said To Flee Tokyo

Superheros

Although the Tokyo-based International Bankers Association has issued a statement signed by 16 of the biggest global banks which confirms that they are currently operating a policy of 'business as usual' in Japan, Reuters reports that foreign bankers are fleeing Tokyo 'en masse', after 'fears of a large aftershock and reports of radiation from damaged nuclear power plants' has caused further panic and accelerated the exodus from Japan's capital city.

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FEATURED

Lloyd Fonzie Blankfein

Golden Goldman

Goldman Sachs generated about $10bn over the last five years from investments in funds, holdings that the firm is required to scale back because of the Volcker Rule.