And investment bankers got their 2012 pay cut, while firm asset managers didn't.
Royal Bank of Scotland will pay about $612m in fines for manipulating interest rates, the second- largest penalty imposed in a global regulatory probe.
Here's part of the bank's statement -
The Financial Services Authority (FSA) has fined The Royal Bank of Scotland plc (RBS) £87.5 million for misconduct relating to the London Interbank Offered Rate (LIBOR).
Hedge fund SAC Capital, still fighting distractions on multiple fronts, churned out a modestly positive January with returns of about 2.5 percent, say two people familiar with the matter.
For the Department of Justice's basic theory of the case to make sense you have to believe that the investment banks creating collateralized debt obligations wanted high ratings at any costs-even if the ratings were highly inaccurate.
By Hiroshi Mikitani
Would you make the cut ?
Morgan Stanley, once the preferred takeover adviser of Dell Inc., missed out on a role on the biggest technology buyout since the financial crisis, depriving the firm of a share of more than $100m in fees.
Liverpool are said to be linked with Hatem Ben Arfa this summer and could use Andy Carroll as bait to secure a deal.