UBS Could Shake Up Investment Bank
UBS is considering a revamp of its investment bank that could see it granting more responsibility to Andrea Orcel, co-head with Carsten Kengeter, and less to Kengeter, according to sources familiar with the matter.
Six Banks Set LIBOR
In the wake of the scandal that revealed LIBOR under manipulation by banks all over the world, the benchmark lending rate is suffering a credibility gap even as a smaller core group of banks contributes to setting the rate.
Baer Agrees to Buy Merrill Non-U.S. Wealth Units
Neither analysts nor investors appeared enthusiastic about the move.
Swiss Bank Baer Seen Close to Deal for Merrill Non-U.S. Wealth Units
Swiss money manager Julius Baer Group was reported to be close to a deal to buy the units that could be announced as early as Monday.
Barclays’ Diamond Blames Libor Fixing on Other Banks, Regulators
Moody’s cuts Barclays' outlook; investors may be on the hook for losses.
Morgan Deemed ‘Winner’ in Moody’s Bank-Rating Massacre
Fifteen banks in the U.S., U.K. and Europe with global capital markets operations saw their ratings cut by Moody’s, some by as many as three notches.
BlackRock to Plan Asia Investment Fund with CIC
BlackRock is said to be planning to launch an Asia investment fund together with China Investment Corp., China’s sovereign wealth fund.
Banks Report $31 Billion in Overdraft Fees in 2011 as CFPB Ponders New Rules
The amount has caught the attention of the Consumer Financial Protection Bureau, which is reviewing bank overdraft practices.
Sallie Krawcheck Joins Board of Gold Bullion International
Sallie Krawcheck, one of the financial industry’s most well-known—and controversial—executives has joined the advisory board of Gold Bullion International, the company announced Wednesday.
‘Too Big to Fail’ Banks Bigger Than Before Crisis
The five largest domestic banks now hold $8.5 trillion of assets, or 56% of the nation’s GDP, and are bigger than before the financial crisis.