Citigroup traders will be spared the full pinch of this year’s market slump, while investment bankers won’t get bonus boosts as big as their surge in dealmaking.
The head of UBS' investment bank, Andrea Orcel, will become chief executive of the bank's British arm effective immediately, according to a memo seen by Reuters on Tuesday.
Royal Bank of Scotland will close its trading business in Japan while maintaining sales operations as part of a global overhaul by the U.K. firm’s chief executive officer.
Jefferies Group, owned by Leucadia National Corp, said it was in talks to sell its commodities and financial derivatives brokerage, which has been struggling with high costs and falling fees.
Tumbling oil prices could expose the financial markets to geopolitical risk, create problems in the junk bond market and cause deflation, the Bank of England has warned.
Plunging oil prices are starting to feed through to UK consumers’ pockets after inflation fell to just 1% for the first time in 12 years last month.
The Black Friday promotional extravaganza meant Christmas came in November for John Lewis but, despite slower sales in recent days, store chiefs expect a bumper finish to December as shoppers get a second wind.
Former UBS banker Bradley Birkenfeld, who was paid $104 million for information he provided, wants to leave the U.S. now. Why he can't.
Tall tales are nothing new in finance.
An ex-Barclays trader accused of fixing a key financial benchmark for personal gain stood to earn a bonus of only $172.50 for his role in alleged rate-rigging in 2007, a London court heard on Friday.
JPMorgan urged shareholders on Thursday to vote against appointing a committee to explore a break up of the bank, reiterating that splitting its businesses would not be in investors' best interests.
French tax police searched Societe Generale's headquarters this week as part of an investigation into offshore accounts revealed by the Panama Papers, the bank said on Sunday.