U.S. asset management group BlackRock said on Friday it was reducing leverage in so-called liability-driven investment (LDI) funds - which have been at the centre of chaotic market conditions for British pension funds this week.
British lender Barclays agreed a $361 million penalty with U.S. regulators on Thursday for "staggering" failures that led it to oversell $17.7 billion of structured products, racking up further costs for an error that has blighted CEO C.S. Venkatakrishnan's first year in charge.
Banks in the European Union will collectively need a further 1.2 billion euros ($1.18 billion) to meet a set of global capital rules in full by 2028, the bloc's banking watchdog said.
Slawomir Krupa is set to become the new chief executive of Societe Generale , following his current position as head of investment banking, Le Figaro said on Friday, citing several sources.
JPMorgan Chase & Co plans to hire about 2,000 engineers worldwide through the end of the year despite a worsening economy, its global chief information officer, Lori Beer, said on Wednesday.
BlackRock Inc's majority-owned China asset management unit has named Hua Fan, former chief investment officer of China Merchant Bank's wealth management business, as its new general manager, equivalent to chief executive, the U.S. asset manager said in a statement.
China's foreign exchange regulator named and shamed 10 banks that had assisted illegal capital outflows, vowing to crack down on fake forex transactions in authorities' latest effort to stabilise the sliding yuan.
Royal Bank of Canada (RBC) cut about 10 jobs in its U.S. investment banking division last week, a spokesperson for the bank said in an email on Thursday.
The opening of new U.S. bank branches is leaving behind minority communities despite racial equality pledges from lenders, according to a study released Thursday by the Committee for Better Banks, an advocacy group.
