Algorithmic trading firm and brokerage KCG Holdings has hired former Goldman Sachs managing director Michael Seigne to help develop its European business among bank and investment-firm customers.
Wholesale markets are expected to continue being extremely tough for European and U.S. investment banks, as the forthcoming earnings season is likely to reveal.
Libor was "nothing special" and of "negligible importance" to one of the ex-Barclays traders on trial on charges of conspiracy to manipulate the global financial benchmark, a London court heard on Monday.
Sajid Javid has indicated that the government is ready to part-nationalise Tata Steel’s UK business in order to save thousands of jobs.
Goldman Sachs will pay $5.06bn for its role in the 2008 financial crisis, the US Department of Justice said on Monday. The settlement, over the sale of mortgage-backed securities from 2005 to 2007, was first announced in January.
Best job ever?
Dear Wall Street: Stop complaining about your pay.
Persistent misconduct and an aggressive sales culture has cost the UK’s banks and building societies £53bn in fines, compensation and legal fees over the past 15 years.
Standard Chartered is seeking to sell at least $4.4bn of assets in Asia, people with knowledge of the matter said, as the bank pares its balance sheet after booking record impairments.
After the worst start to a year since 2008, hedge funds repaired some of the damage in March as investments in equities, fixed income and commodities fueled the best monthly gains in two years.
If money talks, then one of the things it has been saying this summer is that investors are no longer interested in hedge funds. Investors withdrew $25.2bn from hedge funds in July, according to eVestments. This is the largest monthly redemption since February 2009, when investors redeemed $28.2bn.
Goldman Sachs told state regulators it plans to cut 15 jobs in New York before the end of this year.
Credit Suisse’s profitability targets for the Swiss unit, earmarked for a partial initial public offering in 2017, may be too ambitious, according to the heads of some of Switzerland’s largest consumer banks.