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Octopus Electric Vehicles has also added to its capital markets team
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Mortgage veteran Bill Twombly is leaving UBS for Brooklyn-based Risk Management Group, a residential mortgage-backed securities analytics and surveillance group.
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Cardano, the U.K. pension fund manager, says it is looking into investing in distressed debt for the first time as resolution of the euro-zone crisis is likely to present opportunities.
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Moody’s Investors Service says it may downgrade Lloyds Banking Group because of concerns over the temporary health-related leave of Antonio Horta-Osorio, the bank’s ceo.
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Société Générale has decided to shelve dividend plans for 2011 as it needs to boost its capital base after absorbing significant write-downs from its exposure to Greek debt.
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Daniel Tarullo, a member of the Federal Reserve board of governors, says the central bank will likely draft rules for U.S. banks based on the recommendation by the Basel Committee on Banking Supervision in the first quarter of 2012, but that it was unlikely banks would implement them before the scheduled deadline.
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The U.S. Securities and Exchange Commission has sworn in Daniel Gallagher as its newest commissioner.
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Citigroup and JPMorgan Chase are the two U.S. banks likely to pay the highest capital surcharge rate of 2.5% as adopted by G-20 leaders, according to a provisional list obtained by Bloomberg.
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Changes to the government’s Home Affordable Refinance Program may result in Bank of America having to absorb $4.5 billion in losses.
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Moneygram Payment Systems has filed suit against Citigroup charging the bank and two of its units engaged in a “fraudulent scheme” to sell nine collateralized debt obligations linked to mortgages.