Thirteen banks to fight EU derivatives charges at May hearing: sources
BRUSSELS (Reuters) – Thirteen investment banks, including Citigroup, Goldman Sachs and Deutsche Bank, will fight EU charges of blocking exchanges’ access to the credit derivatives market at a hearing next month, three people familiar with the matter sa…
JPMorgan corporate and investment bank chief recasts executive team
NEW YORK (Reuters) – Daniel Pinto, who two weeks ago became sole head of corporate and investment banking at JPMorgan Chase & Co , on Monday announced a new lineup for his executive team which raises the profiles of several individuals.
Bank of America, QBE to settle insurance lawsuit for $228 million
(Reuters) – Bank of America and QBE Insurance Corp have agreed to pay $228 million to settle claims that they engaged in a kickback scheme inflating the cost of insurance that homeowners were forced to buy, according to a court filing.
BlackRock shakes up management amid succession planning
NEW YORK (Reuters) – BlackRock Inc is reorganizing its senior management ranks as the world’s largest money manager works towards an eventual succession plan for Larry Fink, its chief executive officer and co-founder.
Asda says could create 12,000 jobs over 5 years
LONDON (Reuters) – Asda, the British arm of United States retailer Wal-Mart , could create 12,000 jobs as it expands in Britain over the next five years, it said on Monday.
Deutsche Bank faces big capital hit under tighter European rules: analysts
FRANKFURT (Reuters) – Deutsche Bank may need to set aside billions of euros in additional capital under a proposal from European regulators that could affect the bank’s efforts to strengthen its balance sheet and put pressure on dividends.
UBS unit must pay $5.4 million to ex-broker who sold Lehman notes: panel
(Reuters) – A unit of UBS AG must pay $5.4 million to a former broker in a dispute stemming from the sale of Lehman structured notes to his clients, a securities arbitration panel ruled.
Bank of America hires new investment bank head for Nordic region
LONDON (Reuters) – Bank of America Merrill Lynch has hired JP Morgan’s Johan Lustig to lead its global corporate and investment banking division in the Nordic region, it said on Monday.
Not your old man’s Hog: Harley bets big on a small bike
KANSAS CITY, Missouri (Reuters) – To catch a glimpse of Harley-Davidson Inc history, visit its Milwaukee headquarters, housed in the 111-year-old company’s first real factory. Or tour its York, Pennsylvania, plant, which has cranked out motorcycles sin…
Fed’s Bullard sees no need for global monetary coordination
LOS ANGELES (Reuters) – The global economy would see little benefit if the world’s central bankers coordinated monetary policy, a top Federal Reserve official said on Monday in defense of America’s easy money stance.
