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UBS to stick it out in Russia

Moscow Traffic

UBS will maintain its presence in Russia even as competitors retreat as it bets that deals will start to recover, according to the bank’s top executive for the country.

JPMorgan to pay most in $1.8bn CDS settlement

Money On Hook

JPMorgan is set to pay almost a third of a $1.86bn settlement to resolve accusations that a dozen big banks conspired to limit competition in the credit-default swaps market, according to people briefed on terms of the deal.

Morgan Stanley shuffles the pack

Morgan Stanley HQ

Morgan Stanley rewarded Ted Pick for taking the firm’s equity-trading business to the top spot globally and put Dan Simkowitz in charge of spurring growth in its investment-management unit.