At its annual investor conference in San Francisco in May 2014, with oil trading at $102 a barrel, Wells Fargo boasted that in just two years it had almost doubled its energy exposure and seized the title of Wall Street’s top oil and gas banker.
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.
The founder of Sports Direct, Mike Ashley, is taking over as chief executive of the troubled sports retailer following the resignation of Dave Forsey.
A shakeup of Rolls-Royce, the engineering group, has claimed another victim with the chief executive, Warren East, replacing his chief financial officer.
John Stumpf's resignation is effective Thursday, a spokesperson for the San Francisco Federal Reserve said in a statement.