France’s ACPR financial regulator’s sanctions commission has decided to fine BMW Finance 500,000 euros ($550,400) for shortcomings in its money-laundering and terror-financing controls, the ACPR said on Friday.
First Republic Bank was paying dozens of employees more than $10 million apiece annually in the heyday before its collapse, Bloomberg News reported on Thursday, citing people familiar with the matter.
MetLife Inc said on Thursday it had signed a $19.20 billion reinsurance deal with retirement and life insurance firm Global Atlantic, and boosted its stock buyback programme to $4 billion.
Lazard Ltd said Peter Orszag, a banker and former White House official, will take the helm as its chief executive officer on Oct. 1, when Kenneth Jacobs steps down after 14 years in the top job at the investment bank.
JPMorgan Chase & Co has told clients with personal credit lines at First Republic Bank that it will no longer offer them when they come up for renewal, a person familiar with the matter told Reuters on Thursday.
The head of investment stewardship at activist investment firm Elliott Management, Christine O’Brien, has resigned, two sources familiar with the matter said on Thursday, after spending years softening the hedge fund’s image as it pushed for changes at big corporations.
JPMorgan Chase & Co has notified nearly 1,000 First Republic Bank employees that they will no longer have a job as it integrates the failed lender it bought earlier this month, a person familiar with the matter told Reuters on Thursday.
Credit Suisse should soon repay the emergency liquidity that the Swiss government gave the stricken bank to aid its rescue, Finance Minister Karin Keller-Sutter said in an interview published on Friday.
Canada’s no.2 lender TD Bank Group will push ahead with its U.S. expansion by focusing on organic growth, after its M&A-led strategy in the world’s biggest banking market suffered a setback this month, a top official told Reuters on Thursday.
