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Citi CEO asks for patience

Michael Corbat

Citigroup CEO Michael Corbat asked investors for more patience on Wednesday in explaining how the bank failed to meet four-year-old performance targets, even as vibrant markets drove profits higher in the fourth quarter.

Dick Fuld backs multifamily office

Richard Fuld

Richard Fuld is backing a multifamily office that will help small-business owners manage their personal wealth, part of a comeback effort by the former head of failed investment bank Lehman Brothers.

State Street to pay $64.6m, name monitor after fraud

Money On Hook

State Street agreed to pay $64.6 million and cooperate in the U.S. prosecution of former executives, while admitting it overcharged six clients in Europe, Africa and the Middle East. The Boston-based bank also agreed to appoint a compliance monitor.

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Money On Hook

State Street to pay $64.6m, name monitor after fraud

State Street agreed to pay $64.6 million and cooperate in the U.S. prosecution of former executives, while admitting it overcharged six clients in Europe, Africa and the Middle East. The Boston-based bank also agreed to appoint a compliance monitor.

Houlihan Lokey Logo Large

Houlihan Lokey acquires boutique investment bank

Houlihan Lokey has announced that it has acquired Black Stone IP, a leading boutique investment bank focused on valuing and trading patent and other intellectual property (IP) assets. Terms of the transaction were not disclosed.

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Courtroom Gavel

Deutsche Bank sued for $3bn

Deutsche Bank was sued in Florida by a Jewish charitable trust that claims the firm wrongly withheld as much as $3 billion from the heirs to a wealthy German family.