Factory Activity Slows in China
Falling factory activity in China, mirroring lower demand both among domestic and foreign customers, may force Beijing to turn to growth policies to keep its economy revved up.
Another Sign China Growth Is Stalling: November PMI Falls
In November, HSBC purchasing managers index fell from prior month.
Will European Banks Be Forced to Unload U.S. Assets?
The report's authors cite Dutch banking giant ING Groep’s pending sale of its U.S. banking franchise ING Direct to McLean, Va.-based Capital One Financial Corp as a paradigm for such asset sales, since European regulators forced ING to restructure.
Data Suggests China May Ease Monetary Policy
China saw its official purchasing managers' index drop to 50.4 in October from 51.2 in September, against expectations that it would gain ground instead. Beijing's National Bureau of Statistics said the fall was because of troubled U.S. and European economies. The index came in at its lowest level since February...
Barclays Adds 6 Advisors, 2 From BofA
Barclays Wealth said Friday that it recently hired six advisors, including one from Merrill Lynch and one from BofA-U.S. Trust in New York, Boston, Dallas and Miami.
Advisors on the Go: Barclays Adds 3, Baird Picks Up 2 and Raymond James Hires 1
Barclays Wealth said Wednesday that it had hired three advisors for its Latin American ultra-high-net-worth operations, while Baird announced on the same day that it had picked up two advisors in San Francisco. On Monday, Raymond James employee-channel added a top producer in Houston.
What’s Behind the U.S. Suing Big Banks Over Mortgage-Backed Securities?
More bank stock declines and less lending could be in store as financial institutions face another massive round of lawsuits. The Federal Housing Finance Agency sued 17 banks on Sept. 2, alleging that the financial institutions committed securities violations in the lead-up to the recent financial crisis.
UBS to Cut 3,500 Jobs; Wealth Unit Losing 350
UBS said Tuesday it planned to cut staff by 3,500 as part of its overall plan to trim about $2.5 billion from its yearly expenses by the end of 2013 “to improve operating efficiency.”
Barclays Adds 14 Advisors With $4 Billion in Assets From Merrill, UBS and Other BDs
The new investment advisors also join from JP Morgan, HSBC, Credit Suisse, Northern Trust and Thomas Weisel Partners on the East and West coasts.
Barclays Boosting Advisor, Exec Force
Barclays Wealth said recently that it hired three executives from rival firms, including Donald Gershuny, formerly a BofA general counsel, who joined Barclays Wealth as general counsel for the Americas.