Tag:
Bank Executives
Latest Headlines
Latest Headlines
Private equity firms to cash out of BankUnited
Reuters was among the news outlets that reported BankUnited, which went public in January 2011, has retained Goldman Sachs to sell the company.
The reasons for the sale are unclear, but the bank appears to be saying that it is not pleased at all by the Fed’s recent move to request “an unpr
2011 a rotten year for bank stocks
The past year was miserable for bank executives, who watched their stocks plummet.
The biggest loser, as we've noted, was Bank of America. It fell 58 percent on the year. According to Bloomberg , the decline "erased almost $80 billion of shareholder value at Charlotte, North Carolina-based
Citigroup slashes 4,500 jobs, $400 million
The holiday season in the banking industry has been marred by a lack of good cheer brought on by lots of job anxiety.
Bank executives are in a mood to cut expenses, and the axe fell at Citigroup this week. The bank announced it would slash 4,500 jobs over the next few quarter, about 1.7 percen
Brian Moynihan speaks as stress tests loom
Bank of America CEO Brian Moynihan has perhaps the hardest job in banking.
Fixing up the troubled banking giant--which is reeling from the economy and the disastrous Countrywide purchase in 2008--has proven a massive challenge with no true success in sight. The rockiness of the recovery path h
An alternative to the Volcker Rule
Two professors at the University of Minnesota Law school have suggested that a simpler alternative to the Volcker Rule would be to require bank executives "to personally guarantee the debts of their firms in return for their high salaries and bonuses, or pay them with stock that is subject to a ca
Why Bank of America shut out analyst Mike Mayo
You have to give Crédit Agricole Securities Mike Mayo credit. He is not afraid to get tough with bank executives.
He caused quite a stir when he went public with his dispute with Citigroup management, all but demanding--and eventually getting--a meeting with the top executives, including CEO V
Banks eager to buy back stock
Banks are trading so far below their book value that they must be good investments right now, right?
A lot of value investors have been burned by such thinking. But if you really believe in the long-term viability of the banks, then why wouldn't you buy? Bank executives are obviously in this c
Complex Volcker rule proposals spawn controversy
Anything that tries to delineate proprietary trades from market-making trades and legitimate hedge trades is going to be complex.
You have to give the regulators credit for even taking this on. We're seeing the rise of the some interesting metrics and processes in terms of keeping all this str
Banks "donating" foreclosed slum properties for demolition
In too many cases, big banks and servicers have been transformed into slum lords, owning property that they can't rent and certainly can't sell. The property just sits there, blighted and moldy.
Recall that the city of Los Angeles sued Deutsche Bank in May, charging that it has become one of t
Another inside fraud job: JPMorgan victimized
Over on FierceComplianceIT , we have noted that internal errors and rogue employees are often the cause of financial crimes, despite the fact that external breaches and cyber scams get the bulk of attention. Every now and then a rogue trader will generate headlines, but they seem to be forg
