Reuters reports that US prosecutors Thursday arrested a former Morgan Stanley financial analyst and her husband, a former VP over at ING Investment Management, claiming that the couple traded on non-public information and made up to $600,000 in illicit profits.
Financial Times Deutschland has reported that WestLB has suspended two more staff following an internal investigation into the a share trading scandal that is said to have resulted in losses of up to $134m.
CNBC reports that key Citi executives are already starting to position themselves for the fight to succeed current CEO Chuck Prince.
The Guardian reports that Ken Lewis, Bank of America's CEO, has jetted over to Europe in a bid to win shareholder support for his bid to acquire ABN AMRO's US retail bank LaSalle in a deal worth $21bn.
The New York Times reports that Morgan Stanley has agreed to pay $500,000 to settle US Securities & Exchange Commission (SEC) claims that it failed to 'properly supervise' an employee whose actions resulted in clients losing around $15m. The firm will pay up, but will not admit or deny the accusations.
Bloomberg reports that Bear Stearns has hired three credit derivatives salesmen into its European business. The hires arrive from Citigroup and UBS Investment Bank.
One of our readers has mailed in pointing out that, since Wi-Fi came to the Square Mile last month, he has been experiencing headaches and dizziness.
The debacle that has become the battle for ABN AMRO might end up bringing some good news for those in investment banking who live in fear that their firm will merge and that they will lose their jobs.
Royal Bank of Scotland (RBS) faces some tough choices after Dutch bank ABN AMRO's board determined that its bid for US retail bank LaSalle is not superior to the offer already on the table from Bank of America (BofA). RBS's run at ABN AMRO depends very much on acquiring the LaSalle unit too.
The Associated Press has reported that Vadim Benyatov, the Credit Suisse banker who was arrested in Romania in November on commercial espionage charges, has finally been freed from clink after a successful appeal. He will, however, be required to remain in the country for a further 30 days, while prosecutors conclude their investigations.