C Suisse to sell distressed assets

Credit Suisse has begun selling $1.9bn of distressed-debt holdings that triggered losses at the end of last year, as part of an overhaul by CEO Tidjane Thiam, people with knowledge of the matter said.

Newly-hired brokers help UBS unit


Revenue at the U.S. UBS brokerage unit inched up at the end of 2014 as clients of newly hired brokers transferred fee-generating assets to the firm, brokers made more interest-generating loans and customer trading accelerated in a rising stock market.

European banks on selling binge

Europe’s largest banks are finally putting hundreds of billions of dollars of unwanted assets up for sale amid mounting competition among buyers and regulatory pressure.