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Vida Bank is also building up its funding team
Bank’s relationship with SpringCash is ‘commercial’
Stefan Jost will take over the role
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Stephen Hester, ceo of Royal Bank of Scotland, has waived his bonus of nearly £1 million ($1.6 billion) after the U.K.’s Liberal Democrat party threatened to force the government, which holds a 83% stake in RBS, to cancel the compensation.
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Bank of America is said to have told investment bankers that their compensation would on average be 25% less than a year ago.
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Portugal’s Banco BPI is planning to raise its capital ratio with a discounted buyback offer for a covered-bond issue, the second European bank to do so this year following National Bank of Greece.
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Morgan Stanley has been hit with lawsuits by two foreign banks over residential mortgage-backed securities.
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UniCredit is looking to boost its capital with an offer to buy back up to EUR3 billion ($3.9 billion) of Tier 1 and Tier 2 bonds.
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John Hourican, head of Royal Bank of Scotland’s investment bank and its highest-paid staffer, is under pressure to forgo £5.6 million ($8.8 million) of long-term bonuses that he is due according to his contract.
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Citigroup may cut back further in spending on its securities unit if revenue doesn’t improve this year, says John Gerspach, the bank’s cfo.
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Credit Suisse’s plan to award annual bonuses in part with structured notes is seen as a strategy that will allow the bank to remove toxic assets from its balance sheet that, if they remained, would mean higher capital charges as imposed by the Basel Committee on Banking Supervision.
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This could be the year regulation in the securitization sector makes the leap from being all talk to finally taking action, John Walsh, acting Comptroller of the Currency, said in the featured address at the ASF2012 conference in Las Vegas Tuesday.