New York on Solid Ground to Sanction Standard Chartered, Experts Say
Experts in the U.S. and abroad say that the bank's internal e-mails give the New York regulator a basis for its unilateral action.
New Hire Roundup: Tiger 21 Names Garella San Francisco Chairwoman
This week in new hires, Tiger 21 named Julie Garella chairwoman of its San Francisco group, Eagle Asset Management brought in four new portfolio managers in Vermont, and Steven Young went to Citi Private Bank.
N.Y. Action on Standard Chartered Surprised Other Regulators
Not only was Standard Chartered apparently blindsided by the move, so were federal regulators; negotiations had been ongoing for some time for what the bank hoped would be a quiet settlement.
Barclays’ Chief Quits as Outcry Over Libor Grows
A day after he insisted he had no intention of stepping down, Bob Diamond resigned as head of Barclays Bank effective immediately, bowing to pressure from lawmakers outraged over the manipulation of Libor rates on his watch.
JPMorgan’s Dimon Target of Effort to Be Booted From NY Fed Board
After calling for JPMorgan's CEO Jamie Dimon to step down from his position on the board of the New York Federal Reserve, Simon Johnson, former chief economist at the IMF, started a petition.
JPMorgan Could Close Office That Drove $2B Loss
The chief investment office of JP Morgan in London, which last week made the headlines for losing $2 billion in trades, could be in danger of closing, its entire staff dismissed.
Goldman’s O’Neill Considered for Top Slot at BOE
A second Goldman Sachs candidate has entered the running to replace Bank of England Governor Mervyn King when he steps down in June 2013.
AIG Adds $1.5B to Government Payback
AIG’s remaining debt to the U.S. government is about $45 billion after paying an additional $1.5 billion to the U.S. Treasury Department, the company says.
New Hire Roundup: At FDIC, Gruenberg Takes Helm From Bair; Bostrom Goes to SNR Denton
Also, this week in new hires, Lennon and Rappa join DC team, Unger to head plan sponsor sales at Russell; Grandeur Peak launched; Penn Mutual advances Flannery.
AIG's Roth Says More Small Firms to ‘Throw in the Towel’: The Weekend Interview
AIG Advisor Group President and CEO Larry Roth sees growth at FSC, Royal Alliance and SagePoint as consolidation in the independent broker-dealer space continues