Michael Saunders has a reputation as a hawk, who in recent years believed the economy to be in rude health and in need of higher interest rates to suppress inflationary pressures.
The firm recently began dismissing more support staff and is increasingly rejecting bankers’ spending on airfare, hotels and entertainment unless it directly serves clients.
A vulnerable sector ?
Traders are amongst the best paid finance professionals.
Bank of America sees more room for cost cuts after bigger-than expected reductions in the first quarter helped blunt declines in profit and revenue, sending the stock higher for a fifth straight day.
Rick Stoddard has been named Bank of America's new head of global capital commitments, according to a memo seen by Reuters.
Deutsche Bank has announced that effective June 6, 2016, Pamela Root will join as Global Head of Compliance and Group Chief Compliance Officer. She will be based in London and will report to Sylvie Matherat, Chief Regulatory Officer and Member of the Management Board of Deutsche Bank.
Exchange operator Bats Global Markets on Thursday priced its long-awaited initial public offering at $19.
Barclays is set to end its search for a new boss for its investment banking division. The bank had earlier sought to find a replacement for Tom King, its former chief executive of the investment division, who retired in February.
Consumers have been the missing link in the U.S. economic recovery and are likely to remain so absent a major change in sentiment.
Deutsche Bank’s shares have fallen to a new low amid doubts over the ability of Germany’s biggest bank to pay potential multibillion-dollar fines for past wrongdoing.
The spread of business and talent out of Wall Street and into merchant trading firms will probably accelerate after the Federal Reserve’s new bid to restrict bank commodity holdings, according to one employment specialist.
A warning about the impact of the Brexit vote on financial services jobs has been issued by the head of the London Stock Exchange.