The Wall Street Journal reports that, according to unnamed 'people familiar with the matter', Citigroup may need to raise an additional $10bn in capital. At least that appears to be the view of the US government, which recently completed its 'stress-tests' on the nation's 19 largest banks.
Reuters reports that UBS has confirmed that it has axed 2,000 staff from its wealth management unit in the United States. The cuts are part of the firm's latest restructuring, which will eventually see 8,700 jobs go.
Here's an interesting collection of bankers who are experiencing a variety of problems from alleged insider trading, complicity in tax evasion, securities fraud and good old straightforward bonus blues.
Don't you just love CNBC contributor Charlie Gasparino. If ever there are claims of sleeze, good old Charlie gets out in front of them. This little gem allegedly involves former Bear Stearns CEO Alan 'Ace' Greenberg.
Here's some real life lonely-hearts banker 'up close and personal' Ads:
Members of the Wall Street Community are gathering in support of St. Jude Children’s Research Hospital.
The Wall Street Journal reports that Morgan Stanley CEO John Mack told his shareholders at the firm's annual meeting Wednesday that key employees would need to be paid the going rate if they were to remain with the company and help preserve its future.
Bank of America CEO Ken Lewis narrowly lost a fight with shareholders Wednesday, and has been forced to give up his Chairman position. He will be replaced by long-serving BofA board member Walter Massey. Lewis will remain President and CEO.
The Wall Street Journal reports that Citi is hoping to obtain permission from the US government to pay 'special (retention) bonuses to many key employees'.
As Bank of America CEO Ken Lewis gears up to reassure shareholders Wednesday, he won't be helped by a viral internet campaign that has been fired up on the internet in an attempt to get him the boot.
Goldman, JPMorgan and Morgan Stanley have all posted their Q3 results. Here's how they stacked up on the compensation front.
A small - but increasing - number of companies are implementing a pay program that breaks the most entrenched of workplace taboos: revealing your salary.
Raoul Weil, the fugitive former head of UBS’s global wealth management business, was arrested in Bologna after checking into a hotel under his own name and triggering an alert to Italy’s authorities.