Credit Suisse is starting two hedge funds focused on quantitative strategies as part of a broader effort to build the bank’s asset management unit, according to a person with knowledge of the matter.
Britain’s banks face a ban on restrictive contract clauses and misuse of league tables in pitches to clients, in an attempt by the U.K.’s financial regulator to shake-up competition in investment and corporate banking.
Massachusetts became the latest state to penalize Wells Fargo over its bogus accounts scandal by pulling the bank from a list of approved bond underwriters.
The Securities and Exchange Commission has announced that Israeli-based Bank Leumi has agreed to pay $1.6m and admit wrongdoing to settle charges that it provided investment advice and induced securities transactions for U.S. customers for more than a decade without registering as an investment adviser or broker-dealer as required under U.S. securities laws.
China’s economy is showing signs of stability after the nation’s government reported growth at an annual rate of 6.7 per cent in the last quarter.
A City banker died following major heart surgery at a private London hospital after a vital piece of equipment was switched off for 19 hours, an inquest heard.
Britain’s jobs market has continued to brush off the Brexit vote after a rise in employment in August to a joint record high.
Morgan Stanley could do little but watch as a team of advisers overseeing $2.2bn in assets quit last month to start their own shop, the latest in a string of departures that have shifted billions of dollars in assets away from big Wall Street banks.
BNY Mellon Investment Management appointed Olivier Cassin as head of institutional distribution, Europe.
The chairman of the influential Treasury select committee (TSC) Andrew Tyrie has urged the financial watchdog to publish its report on Royal Bank of Scotland’s treatment of financially distressed business customers.
A former JPMorgan executive who spent eight years on the run in Argentina pleaded guilty on Friday to U.S. charges that he embezzled $5.4m from clients at the bank and at a prior employer, UBS.
Deutsche Bank is looking to cut its loan securitization business further starting with repackaged U.S. mortgages, two people familiar with the matter said, as the lender braces for a large fine in the United States for alleged mis-selling of such debt.
Former Deutsche Bank CEO Josef Ackermann said he sees no legal basis for the company to force senior executives to return bonuses that have already been paid out, after a German newspaper reported it was weighing such a move.