Julius Baer said it suffered no losses in the two trading days after the Swiss central bank unexpectedly abolished its franc cap. The shares surged Monday.
A former Julius Baer banker found guilty on Monday of breaching Swiss banking secrecy laws by handing over data about offshore clients to WikiLeaks will avoid jail time.
There’s blood on the Street.
For three years, the Swiss franc was locked against the euro under the central bank’s cap, with no end in sight. UBS Group’s Gregor Hirt last month sensed something was about to change.
The portion of revenue Goldman Sachs set aside last year to pay employees was the second-lowest since it became a public company.
Deutsche Bank cut its credit sales teams in Chicago and San Francisco as Europe’s largest investment bank pulls back from less profitable fixed-income businesses, according to two people with knowledge of the matter.
Pursuant to the conditions set out in article 13 of the Company's articles of incorporation, the Board of Directors of Societe Generale, based on the advice of the Nomination and Corporate Governance Committee, has decided that the positions of Chairman and CEO would be separated at the end of the Ordinary Shareholders' meeting on 19 May 2015.
Billionaire Steven A. Cohen said he won’t bid for the Brooklyn Nets after his representatives met with bankers handling the team’s sale, according to a person with direct knowledge of the matter.
The combined wealth of the world's richest 1 percent could overtake that of the other 99 percent by 2016, according to a report by Oxfam published Monday, as billionaires, politicians and business leaders gather in Davos for the annual World Economic Forum.
British banks are set to post first quarter profits this week that are weighed down by the rising risk of Brexit, bad debt, and poor investment banking performance.
Bob Diamond has teamed up with a major private equity firm as he attempts to develop plans to mount a bid for the African operations of Barclays, the bank he ran until four years ago.
HSBC needs to do more to protect the financial system from “bad actors”, the bank’s chairman admitted to shareholders on Friday.