RBC to Buy City National, Boost U.S. Wealth Operations
The U.S. operations of the Canadian bank currently include about 2,000 reps and $280 billion in assets.
Top 10 Global Cities Creating U.S. Jobs
A recent Brookings report determined the top 10 global city-regions making direct investments, and employing workers, in the United States.
SEC Weighs Requiring Brokers to Tell Where Trades Are Sent
The proposal is intended to address complaints that trade routing decisions sometimes are not in clients’ best interests.
New Hire Roundup: IMCA Announces 2014 Board
Also this week, Celine Colgan joined the Presidio Group, Girard Securities welcomed David Bombart and National Planning Corp. promoted Scott Montgomery.
Top 10 Global Private Banks
Here are the 10 private banks with the top AUM, according to the 2013 Scorpio Partnership Global Private Banking Benchmark report.
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.
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.
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.
New Hire Roundup: FINRA Names New Corporate Communications Head
This week in new hires, FINRA announced that Greg Ahern will be its new head of corporate communications, and Neuberger & Berman welcomed Brendan Gill.
Clearing's New Space
In these challenging times—lethargic economy, record-low interest rates, high market volatility, softer trading volumes and a regulatory overhaul—the top firm in the clearing space has decided to totally transform its business model.