Latest news
Latest news
Bank’s relationship with SpringCash is ‘commercial’
Stefan Jost will take over the role
Koning to leave in the next year
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Bob Diamond has given up a £20 million ($31 million) bonus package upon his resignation as ceo of Barclays, but will walk away with £2 million ($3.1 million) in salary and cash payment instead of a pension.
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Lloyds Banking Group is said to be in talks to unload a portfolio of £1 billion ($1.55 billion) in toxic it loans it acquired with the purchase of HBOS in 2008, according to the Sunday Times.
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Barclays is said to be mulling whether to split in two and list its investment bank in New York while the rest of the U.K. bank would remain listed in London.
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It was a quiet week, especially in the U.S. as the July 4 holiday fell smack in the middle of it. Deal flow was limited, but there was plenty to talk about with the growing LIBOR scandal in London and, in California, municipalities making a play on underwater mortgages. -
WestLB has closed its asset-backed securities business following the firm’s breakup and rebranding.
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The U.S. Government Accountability Office has criticized the Federal Reserve Board and the Office of the Comptroller of the Currency for failing to adequately provide troubled homeowners with information on how they can obtain monetary relief.
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The U.S. Securities and Exchange Commission has named Norm Champ to succeed the retiring Eileen Rominger as director of its Division of Investment Management, effective July 9. Champ has been serving as deputy director the SEC’s Office of Compliance Inspections and Examinations. Click here to read the release from the SEC
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Investment Property Databank has launched transaction-linked indices for the main European markets, to identify better the volatility and risk present in the region’s real estate.
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Wells Fargo spent $7.8 million on in-house lobbyists to influence mortgage regulations, ahead of JPMorgan Chase, Citigroup, Bank of America, Goldman Sachs and Morgan Stanley. .
