10 Biggest Banks in the World (*With a Footnote)
SNL Financial released its first ranking of 100 biggest banks, but noted that their respective accounting regimes affected placement.
Freddie Mac Sues Big Banks Over LIBOR
Government-owned Freddie Mac accuses the banks, including Bank of America, of acting collectively to hold down the U.S. dollar LIBOR.
New Hire Roundup: Former COO Nides Returns to Morgan Stanley
This week in new hires, Tom Nides rejoined Morgan Stanley, Rob Brown went to United Capital and Vanguard announced several investment management changes.
Gold to Peak This Year, Experts Say
Several top analysts are predicting a price of $1,720 in 2013 for the precious metal.
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.
LIBOR Case Subpoenas Expand to 16 Banks
Now the list of subpoenaed banks has expanded to a total of 16, including Société Générale and Royal Bank of Canada (RBC), and more attorneys general are coming in on the investigation.
Julius Baer May Cut 1,000 Jobs After Merrill Acquisition
The bank seeks to reduce its workforce by 15%–18%, now that it has a combined staff of some 5,700 in the wake of its acquisition of Bank of America-Merrill Lynch’s former U.S. wealth management units.
Nomura to Scale Down Global Presence
The Japanese brokerage firm Nomura Holdings plans to seek nearly half of a planned $1 billion in savings from cutting European and Middle Eastern operations, with the rest to come from the Americas and Asia.
Swiss Banks Giving Up Employees to IRS, DOJ
Thousands of employees of Swiss banks are finding that their employers are hanging them out to dry in exchange for hoped-for leniency in connection with American accounts involved in a tax evasion investigation.
Critics Attack Dual Class of Manchester United Shares
Not everyone is happy about the Manchester IPO scheduled for Friday. Critics are especially hard on the share structure, which allows the Glazers to remain in control.