BofA's CFO makes the most money in banking industry, according to an analysis of CFO pay released this week. But the study shows how difficult compensation comparisons are to make.
The Occupy Wall Street movement may have fizzled, but students continue to disrupt bank recruiting events. Harvard University students recently protested a Bank of America event in Cambridge,...
Congress is considering cracking down on patent abuse, both by holders of business method patents and by so-called patent trolls. But what effect that will have on innovation is anyone's guess.
Several large firms are considering banning or restricting electronic chat rooms as regulators focus on an "instant messaging group" at the center of a currency trading investigation. JPMorgan Chase & Co. and Credit Suisse, are weighing banning or disabling access to the chat rooms. Royal Bank of Scotland, Barclays, UBS and Citigroup are reportedly studying chat-room use an reviewing controls and monitoring standards.
Citigroup, JPMorgan Chase & Co., and Standard Chartered have put top London currency dealers on leave thanks to a regulatory probe of an "instant-messaging group" about currency trading. Regulators began investigating the instant-messaging group as part of a probe into the manipulation of foreign-exchange rates.
It was not the Citigroup's board finest hour when it sacked then-CEO Vikram Pandit. The move was handled messily, and led to all sorts of commentary about Imperial Chairmanships and whether they...
Deutsche Bank is reportedly in talks with JPMorgan Chase & Co., Citigroup, and Barclays to create a multi-dealer electronic bond trading platform. The group of firms has not agreed on how to jointly operate a single platform, but Deutsche bank wants to model it after a similar platform in Europe.
Like other big consumer banks, Citigroup has been forced to lay off employees in its mortgage unit, to the tune of 1,000 jobs. Many of the Citi cuts are expected in Las Vegas. The total lost jobs amounts to about 8 percent of the 13,000 jobs in the unit, according to Dow Jones.
The end of the third quarter is at hand, and the conventional wisdom is that banks have taken a beating in terms of trading revenue. Citigroup has apparently not been able to buck the trend.
Citigroup plans to open a representative office in Baghdad after getting approval from the country's regulator, according to media reports.