Hanging on the telephone line..........
Wells Fargo’s board was accused of breaching its duty to investors in a lawsuit that also names Carrie Tolstedt, the executive whose community banking unit created unauthorized customer accounts to reap extra fees.
Competitors might have been surprised to see JPMorgan bankers Ricardo Leoni and Daniel Pombo at the negotiating table earlier this year helping Brazilian mining company Samarco Mineracao SA restructure about $3.8bn in debt.
Leon Cooperman denied insider trading charges against him and his firm Wednesday, saying he would vigorously defend against the accusations.
Warren Buffett, the biggest investor in Wells Fargo, said it’ll be more than a month before he publicly discusses the bank’s phantom-account scandal.
The Bank of England’s interest rate cut to 0.25% in August should be enough to prevent the economy from slipping into a recession, according to the most hawkish member of the central bank’s interest rate-setting committee.
Bank of America and a former managing director agreed to settle a lawsuit in which she accused the institution of being a "bros club" that favoured male employees.
Julius Baer said Asia may overtake Europe as its biggest revenue-generating region, as the wealth manager steps up hiring in Hong Kong and Singapore.
When Barclays in 2012 became the first big bank to be fined for trying to rig the Libor interbank rate, its chief executive lost his job within days.
Britain’s boffins may find time to vacate their libraries and science labs this evening – for they have reason to celebrate.
Vivian Lau, who once co-headed a multi-billion dollar internal hedge fund at Goldman Sachs, has attracted backing for her own firm even as many fledgling managers struggle to raise money.
Today, iconic fashion designer Tommy Hilfiger is the founder and lead designer of his eponymousclothing company, which does about $6.5 billion in annual sales.
In an era of ultra low interest rates, ever tightening regulation and steep legacy fines, times are tough for banks. But taxpayer-backed RBS, which has not made a full-year profit since 2007 and has seen shares slide 36 per cent in the year to date, is having a particularly rough ride. This is largely through problems of its own making.