Citigroup CEO Jane Fraser announced a major management reorganization that will see more job cuts and give her more direct oversight over its businesses as she seeks to simplify the bank’s structure.
The U.S. affiliate of crypto giant Binance said its chief executive, Brian Shroder, will leave and that it is cutting more than 100 jobs – roughly a third of headcount, underscoring the company’s operational challenges after being sued by regulators.
The U.S. government is looking to offload nearly $13 billion of mortgage bonds it amassed from Silicon Valley Bank and Signature Bank following the collapse of the lenders, Bloomberg News reported on Tuesday, citing people with knowledge of the transactions.
U.S. bank groups on Tuesday accused the Federal Reserve and other regulators of violating federal laws with a sweeping proposal to raise capital requirements, escalating an assault on the draft rules that were also blasted by bank executives.
The U.S. S&P 500 is set to rise into the end of the year as investors price in a more upbeat economic outlook, according to Societe Generale strategists, who also issued more gloomy projections for stock returns in 2024.
Shares of Northern Trust Corp fell by more than 9% to their lowest level in nearly a month on Tuesday after the custodian and asset manager forecast a bigger-than-expected drop in net interest income (NII) in the third quarter.
Julius Baer’s chief executive said on Tuesday there was nothing standing in the way of the Swiss bank becoming a $1 trillion wealth manager sometime in the next decade.
