UBS’s decision three years ago to close debt-trading desks, slash risky assets at its investment bank and concentrate on managing money for the wealthy helped make it a favourite among investors.
BNP Paribas is being sued by the trustee of a $650m Islamic finance transaction who said the deal was rendered worthless because the bank didn’t get a proper signature from the Saudi businessman behind the deal: Saad Group Chairman Maan al-Sanea.
Commerzbank said Monday that third-quarter net profit fell 8% because of a sluggish performance at its investment bank and activities with small- to midsize corporate clients.
In a trial starting on Monday, Morgan Stanley will confront a Russian billionaire's claims that it illegally short-sold a company based on inside information at the height of the financial crisis.
Bank of America has reached a $335m settlement of a federal lawsuit accusing it of misleading shareholders about its exposure to risky mortgage securities and its dependence on an electronic mortgage registry known as MERS.
HSBC Monday reported a better than expected 32 percent rise in pretax profit for the third quarter, as lower fines and settlements offset a decline in revenue.
Martin Blessing, who led Commerzbank for seven years, won’t extend his contract when it expires in 2016, becoming the latest CEO to join an unprecedented wave of management changes at Europe’s banks.
UniCredit's new business plan envisages 12,000 job cuts worldwide, a source close to the matter said on Friday, indicating a larger reduction compared with 10,000 layoffs that had been expected.
Bank of America traders posted trading revenue on every business day of the third quarter, the first three-month period without a daily loss since the start of 2014, even as total trading revenue declined.
U.S. banks have crossed a significant post-financial crisis milestone, tallying more $200 billion in fines paid out regarding questionable behavior.
London's position as the world's premiere financial center is bound to change in the wake of a Brexit. Dublin could step in.
Markets hemorrhaged more than $3 trillion through Monday because of Brexit, according to data from S&P Global, the worst on record.
Fidelity International and JPMorgan Chase are among bond investors warming to electronic trading systems in Asia.