HSBC and BNP Paribas would ditch their securities units if they were to fail, while American International Group would spin off its non-life insurance divisions.
JPMorgan has hired Nick Malangone from Goldman Sachs to bolster a team overseeing funds for insurance-company clients.
Citigroup, which pioneered the era of global megabanks before almost collapsing in the financial crisis, just slid behind Wells Fargo to rank as the US’s fourth-biggest bank.
Michael Steinberg, a former fund manager at SAC Capital Advisors, is free and clear of all allegations that he traded on insider tips after a 3 1/2-year fight with prosecutors and regulators.
Investment banks earned the least since 2002 from Russian corporate deals last year as sanctions and low oil prices curbed transactions, according to the consultancy Freeman & Co. Domestic lenders garnered more than half of the commissions for the first time as international firms retreated.
Asda is cutting about 200 jobs at its head office in Leeds after the supermarket endured a tough Christmas trading season.
If it seems like the Davos reads like a who's who of the world elite, you wouldn't be wrong.
CIMB Group Holdings Bhd has cut 32 jobs in its Hong Kong investment banking and equities business on worsening capital market conditions, Malaysia's second-biggest bank by assets said on Monday.
Royal Bank of Scotland could reach a settlement within weeks on claims it misled investors in selling U.S. mortgage-backed securities, passing another milestone in its recovery from the financial crisis, analysts said on Friday.
"I don't see a chance that this is an independent company in 24 months," Ross Levinsohn said.
Sterling rose and the City’s leading share index closed at its highest level for 11 months after a Bank of England policymaker said a lack of panic since Britain’s shock Brexit vote called into question the need for a knee-jerk cut in interest rates.
Legal & General has increased the price of its property fund, saying conditions have stabilised since the week in which several similar funds suspended trading.