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
AIG to Repay $37 Billion to U.S. After Sales
AIG has raised a total of approximately $37 billion with which to repay the federal government after an IPO of AIA of Hong Kong and American Life Insurance Co. to MetLife, according to a report from NU Online News Service on Monday.
When New York Fed’s William Dudley Speaks, People Listen
Dudley outlined two steps the Fed could take to help mitigate some of the current economic woes. Did he go too far or just far enough?
AIG Announces Plan to Fully Repay Bailouts
AIG announced Thursday that it had come to an agreement in principle with the U.S. Treasury, the Federal Reserve Bank of New York and the AIG Credit Facility Trust to repay its 2008 bailout.