State Street said first-quarter profit fell 22%, reduced mostly by severance costs related to the company’s fourth round of job cuts since 2010.
BNP Paribas has announced several key appointments to strengthen its Securities Services franchise in Asia Pacific as it continues its expansion in the region.
BNY Mellon has named Eric Pulinx as Chief Financial Officer of its European banking entity The Bank of New York Mellon SA/NV, subject to regulatory approval.
Northern Trust has named Andrew Tan as the Head of Investment Risk & Analytical Services (IRAS) in Asia-Pacific, leading the delivery of technology, reporting and consulting services for institutional investors and asset managers in the region.
Citigroup has named Joseph Chang as head of prime finance in Asia Pacific, according to an internal memo obtained by Reuters on Monday.
A federal judge in Manhattan on Thursday dismissed two lawsuits in which participants in Morgan Stanley's retirement plan accused the firm of mismanaging some plans by allowing participants' money to remain in its stock even as its performance faltered in 2008.
Sad to report.
State Street, the third- largest custody bank, said it will eliminate 630 jobs in its third round of cuts in two years to bolster profit as record low interest rates weigh on revenue from lending.
State Street Corporation has announced that Executive Vice President and Chief Financial Officer, Edward J. Resch, 60, has informed the company of his plan to retire in 2013, after more than a decade in the role, following the appointment of his successor and an orderly transition of the function.
Bank of New York Mellon Corp., the largest custody bank, reached a deal to end a lawsuit accusing it of defrauding state pension funds through foreign-currency transactions, according to a spokesman for Virginia Attorney General Kenneth Cuccinelli.