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Banker had been at NatWest for three years
New hire to be US head of digital infrastructure finance for combined firm
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Federal Home Loan Banks in Boston, Chicago, Indianapolis, Pittsburgh, San Francisco and Seattle, along with TM1 Investors, are questioning the fairness of Bank of America’s proposed $8.5 billion settlement over soured mortgage-backed securities.
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Barclays, HSBC, Royal Bank of Scotland and Lloyds Banking Group have joined forces in opposing the ring-fencing of retail and investment banking as proposed by the U.K. government’s Independent Commission on Banking.
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EDHEC-Risk Institute has warned the European Union not to impose the so-called Tobin tax on financial transactions to help fund the E.U. budget.
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France’s OFI Asset Management has formed ZENCAP Asset Management, a new unit that will focus on the distressed-credit market.
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UBS and Credit Suisse are said to cutting 5,000 and 1,000 jobs, respectively.
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Royal Bank of Scotland is teaming up with The Blackstone Group to launch a £1.4 billion ($2.26 billion) U.K. commercial real estate loans fund.
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Sen. Barbara Boxer (D-Calif.) pitched her controversial mortgage refinancing plan to the Street on Tuesday, but analysts said that even if it is passed, it won’t start the refi wave investors fear.
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ING has asked the European Union’s General Court to revoke some of the provisions of its state-approved bailout, terms that the Dutch bancassurer has said were disproportionate compared with those imposed on other European banks receiving government rescue funds.
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Standard Chartered warns that bank reform proposed by the Independent Commission on Banking raises the risk of financial institutions failing.