09/24/2012
It's the end of an era and the beginning of a new one as Morgan Stanley announced Tuesday that its U.S. wealth management business, Morgan Stanley Smith Barney, has changed its name to Morgan Stanley Wealth Management.
09/19/2012
The reductions for the final six months of the year, outlined in a document given to top management, are part of a larger effort to retool Bank of America into a leaner and more focused enterprise.
08/27/2012
The highest ranking U.S. bank came in 29th on the report
08/26/2012
Of the 462 investment bankers that were asked, 31 per cent said they would most like to work in Singapore. By comparison, only a fifth preferred New York and only 19 per cent opted in favour of London.
08/23/2012
The threat of such fees also deters some customers from changing banks, they said.
08/21/2012
Indeed, the stink is now so bad that some people are calling for the re-introduction of Glass-Steagall, a post-Depression set of rules that erected a strict divide between Main Street and Wall Street banks, or something similar.
08/15/2012
Citi Asia Pacific was a big winner in this year’s Global Finance magazine’s annual World’s Best Internet Banks, hauling a total of 26 awards across the corporate/ institutional and consumer banks categories.
08/13/2012
David Walker, the former Bank of England executive director named chairman of Barclays last week, is joining the company as lawmakers reignite calls to separate consumer and investment banking operations after the resignation of its top three leaders.
08/13/2012
Management reiterated in its second quarter conference call that those ratios are at the low end of long-term targets of 1.6%-1.9% on return on assets and 16%-19% for return on equity.
08/12/2012
Change to Coincide With Morgan Stanley Purchase of Additional 14% Share in Broker From Citigroup
08/09/2012
The developments came as the New York company tried to unwind a series of problematic positions taken by a trader in the bank's Chief Investment Office nicknamed the "London Whale" for his outsize market bets.
08/09/2012
A mountain of evidence exists that confirms this fact. Nonetheless, managers continue to charge hefty fees to convince gullible clients otherwise.
08/07/2012
Citigroup had noted earlier this year that it believed it might have to book a temporary impairment charge, but said it was not material.
08/06/2012
The charge would be more than double the third-quarter average profit estimate of $2.88 billion by 13 analysts in a Bloomberg survey.
07/31/2012
The San Francisco bank said its "reasonably possible potential litigation losses" in excess of second-quarter legal reserves jumped 30 percent from the first quarter, to as much as $1.2 billion.
07/26/2012
Jefferies set aside $870 million in the first six months of its fiscal year, enough to pay its 3,809 employees an average of $228,407. Goldman Sachs set aside $225,789 for each of its 32,300 workers.
07/26/2012
Flows and Assets Under Management Average assets under management during the second quarter 2012 were $155.0 billion compared with $158.9 billion during the first quarter 2012 and $171.6 billion during the second quarter 2011.
07/25/2012
Banker who once encouraged the US to repeal the Glass-Steagall Act suggested that the types of financial firm he had helped to create should now be broken up
07/25/2012
Evercore's quarterly results may fluctuate significantly due to the timing and amount of transaction fees earned, as well as other factors. Accordingly, financial results in any particular quarter may not be representative of future results over a lo
07/23/2012
Chairman Wang Dongming entered exclusive talks with Credit Agricole in March over the French bank’s remaining CLSA stake to add overseas research, brokerage and investment banking to Citic Securities’s operations.