Bank of America’s Japanese brokerage unit plans to reduce office space in Tokyo to cut expenses, people with knowledge of the matter said.
Credit Suisse CEO Tidjane Thiam dropped a bombshell on investors: Caught off guard by a buildup of illiquid trading positions, the CEO said the bank will probably post a second straight quarterly loss as it unwinds the trades.
Did he fall - or was he pushed ?
Credit Suisse has struck a partnership with Palantir, one of Silicon Valley's most secretive start-ups, to stop rogue traders, the companies said this week.
Tidjane Thiam, CEO at Credit Suisse, spoke to Francine Lacqua on Bloomberg TV Wednesday morning to discuss the bank's latest restructuring steps, his outlook for the first quarter results, and keeping the dividend in place.
Tom Hayes has been ordered by a judge to pay £878,806 in a proceeds of crime hearing.
For years, he was a member of the elite of Swiss bankers. Now, a former Credit Suisse wealth manager is in a prison hospital in Geneva, charged with fraud, misappropriation, and criminal mismanagement, facing as many as 10 years behind bars.
A High Court judge has ruled that Navinder Sarao should be extradited to the US, where he will face charges carrying a maximum sentence of 380 years.
There had been “consequences” for some employees.
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.
Competitors might have been surprised to see JPMorgan bankers Ricardo Leoni and Daniel Pombo at the negotiating table earlier this year helping Brazilian mining company Samarco Mineracao SA restructure about $3.8bn in debt.