UBS, which cut its securities unit to focus on wealth management, raised its bonus pool by 14% in 2015, leaving it the only major European bank to award bankers higher compensation.
Bank of America Chief Operating Officer Thomas K. Montag was paid less than Chief Executive Officer Brian T. Moynihan last year for the first time. Montag was awarded $15.5m, compared with Moynihan’s $16m.
Banks will no longer be able to lie on their Libor submissions as a new computer system combined with close scrutiny mean rigorous checks will be in place from this summer, keeping the key benchmark accurate.
A memorabilia trader hopes a jacket worn by Nick Leeson whose trading activity eventually brought down a major bank could be sold for more than £20,000 ($28,836).
Matthew Courey, head of high-yield bond trading at Credit Suisse in London, is leaving the bank to pursue interests in the charitable sector.
Average pay at Goldman Sachs' European arm fell 15% year-on-year as turbulent markets discouraged companies from listing on stock markets, hitting the bank's underwriting business hard.
Societe Generale is considering selling its London headquarters this year after the bank agreed to lease new offices in the Canary Wharf financial district, according to three people familiar with the matter.
UBS has said that the European Court of Human Rights has agreed to consider its complaint over the $1.24bn bail that French authorities ordered the bank to pay in a tax evasion investigation.
After Valeant took a giant bite out of Bill Ackman's hedge fund, the billionaire described his firm's standing to CNBC's Scott Wapner.
China Target M&A activity totals $91.1 billion, up 27% compared to YTD 2015
China’s shadow banking could lead to losses of $375bn, according to CLSA estimates of likely levels of bad debt.
Wells Fargo, facing calls to hold senior managers accountable for a scandal over unauthorized customer accounts, said a top risk manager has taken a leave of absence on the eve of CEO John Stumpf’s testimony before the Senate Banking Committee.
Billionaire George Soros pledged on Tuesday to invest up to $500 million in programs benefiting migrants fleeing life-threatening situations.