The number of jobs in 'City type financial services' in London will fall below the number in Hong Kong by 2015 according to Cebr, the economics consultancy.
Kweku Adoboli, the former UBS trader on trial over a $2.3bn loss, is being wrongly blamed for the bank’s layoffs and poor reputation, his lawyer said Friday in closing arguments.
Credit Suisse plans to cut 300 jobs as it merges retail and private-banking units in Switzerland, Hans-Ulrich Meister, who heads business in the country, said in a memo.
Barclays CEO Antony Jenkins, almost two years after his predecessor said it was time for banks to stop apologizing, is still grappling with multiplying number of probes by regulators.
Banker bonuses as much as five-times fixed pay would be allowed under compromise European Union proposals on compensation that clash with tougher demands from EU lawmakers.
Given the challenging global economic climate and evolving regulatory regime for banks, Standard Bank Group's Corporate & Investment Banking business (CIB) is continuing to right size its international operations.
By Andrew Yule, a solicitor in the employment team at international law firm Withers
A five-year project to publish the collected works of pioneering British economist John Maynard Keynes, is about to be unveiled by Cambridge University Press.
An excellent second half saw Liverpool come back to draw at Stamford Bridge, with late chances for Suarez and Enrique almost sealing a memorable win.