Tag:
State Street
Latest Headlines
Latest Headlines
State Street to cut 1,400 jobs; Other firms planning cuts?
There's a storm cloud hovering over Wall Street's traditional extended holiday party, which coincides with bonus season for the most part. The shadow cannot be denied, even as bonuses for many people turn out to be anything but a disaster. The specter of job cuts simply cannot be ignored. While so
California sues State Street
"This is just the latest example of how clever financial traders violate laws and rip off the public trust," says the California attorney general. He's referring specifically to State Street, whom the state has just sued to recover $200 million in overcharges and penalties stemming from allegedly
How to discipline a hedge fund
More stringent financial regulation is a big issue these days. One of the surprises is that hedge funds seem to have fared much better than anyone could have expected. Not so long ago, people were bracing for an onerous set of new regulations. But that hasn't materialized. Hedge funds, so far
The future of prime brokerage
We've noted that the balance of power in the hedge fund industry has shifted in part due to big investors who, at a minimum, want more control over their assets. Hedge funds, in turn, want more control over their prime brokers, though its unclear if they wield a lot more clout now than before the
Short-term future of banking bleak?
What will it take for banks to recover? Third-quarter earnings are coming in, and in the case of Wells Fargo, JPMorgan Chase, and State Street, they weren't as bad as expected, which isn't exactly something to write home about in this environment. Merrill Lynch just reported its fifth quarterly
TARP details emerge
Looks like the big-name banks will have no choice: They were told by Treasury Secretary Henry Paulson they will have to accept a government investment (via TARP) for the good of the country. The New York Times reports Citigroup and JPMorgan Chase will get $25 billion each; Bank of America and
ALSO NOTED: A look at CDS prices for Merrill Lynch, Morgan Stanley and Lehman Bros.; Schwab posts strong first quarter; and muc
Company News:
> Schwab posts strong first quarter. Article
> A look at CDS prices for Merrill Lynch, Morgan Stanley and Lehman Bros. Article
> Fitch may downgrade State Street. Article
> US Bancorp earnings slide. Article
> Lampert boosts stake in Auto
C&L: Executive Moves
> Howard Newman to join Sallie Mae board
> MF Global names J. Randy MacDonald  CFO
> Behrman Capital hires retired general Peter Pace
> Ron Suber , ex-Bear Stearns exec, joins prime broker
> Michael Armstrong to step down as Citi director
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ALSO NOTED: Lehman Brothers sues Marubeni; Meredith Whitney in PR mode?; and much more...
Company News:
> Lehman sues Marubeni. Article
> State Street faces class action suit. Article
> UBS restructures executive team. Article
> LiquidityHub shut down. Article
> Man Group takes stake in credit fund. Article
> Bank of America expan
