Some people complain about the so-called golden handcuffs of working in finance. Forrest Xiao broke free.
Sad to report.
A former JPMorgan broker faces federal charges that he stole $20m from customers, only to lose at least $13.5m in bets on Tesla Motors, Apple and other companies.
Derek Kaufman, global head of fixed income at Citadel, is leaving the hedge fund firm.
Gary Kaminsky, a vice chairman in Morgan Stanley's wealth management business, is moving into a part-time advisory role at the bank so he can co-host a television show about Wall Street, the bank confirmed on Thursday.
Bank of America investors say they’ve settled a lawsuit accusing the company of rigging prices in the foreign-exchange market.
Oil equipment provider Schlumberger on Thursday said it would cut an additional 11,000 jobs, which brings the total number of cuts to 20,000.
A bumper quarter = bumper pay.
Pressure is mounting on Alliance Trust, one of the UK’s oldest investment companies, after an influential shareholder advisory body backed rebel investors pushing for change at the FTSE 250 business.
A U.S. appeals court on Wednesday declined to hold Royal Bank of Scotland liable for allegedly defrauding investors in its American depositary shares by downplaying its subprime asset exposure prior to the global financial crisis.
Sam Chapin and Dan Cummings, senior Merrill Lynch executives who helped meld the firm to Bank of America after the financial crisis, plan to step down as vice chairmen, ending more than 50 years of combined work at the company.
Goldman Sachs’s asset-management arm is raising funds to buy stakes in private-equity firms as it looks to expand access to alternative strategies for wealthy clients, according to a person briefed on the strategy.
Fitch Ratings downgraded Credit Suisse's long-term default rating by a notch to A-minus and its viability rating to a-minus from a, citing the bank's reliance on difficult capital markets.