Latest news
Latest news
Key points of contention include the investor sanctions regime and the definition of 'resilience'
Magnetar and Chorus Capital lose experienced pros
Vida Bank is also building up its funding team
More articles
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Ina Drew, who heads JPMorgan Chase’s risk-management group, along with London traders Achilles Macris and Javier Martin-Artajo are said to be leaving the investment bank in the wake of massive losses revealed last week.
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George Smith, senior managing director in Cantor Fitzgerald’s debt capital markets platform, has left the firm to head up the mortgage-backed securities desk at Gleacher & Company Securities; the broker-dealer unit of investment bank Gleacher & Co.
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The U.S. Securities and Exchange Commission is said to have launched a preliminary investigation into JPMorgan Chase’s accounting practices and public disclosures about the derivatives trades, which resulted in losses of $2 billion.
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U.S. Bankruptcy Judge Eileen Hollowell of Tucson, Ariz., has extended a $207 million loan on two Westin hotels by what analysts say is an unusually long 15 years.
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The Royal Bank of Scotland has announced that it will slash 500 jobs in the Netherlands, a roughly 25% reduction that will leave 1,400 staffers in the country by the end of next year.
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Deutsche Bank is said to have off talks with Guggenheim Partners for the sale of most of the German lender’s asset-management operations, but has said it will continue to evaluate the businesses.
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The investment policy team of the U.K.’s Financial Services Authority is expected to recommend when it meets next month that the FSA delay for a year until Jan. 1, 2014, implementation of new measures that would require platforms to provide investors with information and notifications from funds managers and depositories with any changes in investments.
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Renee Toft, head of research at Cairn Capital in London, is said to have left the firm.
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JPMorgan Chase has suffered $2 billion in losses from trading losses from derivatives in its Chief Investment Office in the past six weeks and is likely to suffer an additional $1 billion loss from the portfolio in the second quarter, according to Jamie Dimon, the bank’s ceo. .