UBS board members gathered in Sydney last year to consider the bank’s fate, they joined 200 clients to drink champagne, eat canapes and mingle among beds of anthurium with purple spadixes jutting into the air.
The claims of JP Morgan hiring scores of children of powerful government officials throughout Asia have put the bank squarely in the sights of the United States government for violating the Foreign Corrupt Practices Act.
Citigroup will sell its emerging-markets private-equity unit to the Rohatyn Group to comply with new curbs on risky bank investments. Terms weren’t disclosed.
JPMorgan Chase’s Bear Stearns Asset Management has won dismissal of a lawsuit by Bank of America Corp. over a collateralized debt obligation transaction that resulted in billions of dollars in losses.
French bank stocks have been the picks of Europe over the past year, outperforming the sector .SX7P by around 30% after shedding risky assets and boosting their capital defenses.
Consolidation in the banking industry is inevitable as the costs of litigation and a raft of new rules change the economics of the financial services industry, he predicts.
Nomura has hired Mei-yu Shih from Bank of America to run equity sales and trading in Taiwan as Japan’s biggest brokerage overhauls its Asia equities business.
Barclays has said investors need to be on its share register by 13th September to qualify for the launch of its £5.8bn rights issue.
In 2003, a research company met with J. Ezra Merkin, a prominent Wall Street financier who had earned a fortune investing his clients’ money with Bernie Madoff.
Mike Whitehead has joined Bank of America's GTS EMEA as head of Financial Institution (FI), Non-Bank Financial Institution (NBFI) and Public Sector Sales.