Citigroup hires BofA Merrill’s head Andy Sieg to lead wealth unit
By Lananh Nguyen and Jaiveer Shekhawat (Reuters) -Citigroup Inc hired Andy Sieg to lead its global wealth arm, the lender…
Business
How a massive options trade by a JP Morgan fund can move markets
By Saqib Iqbal Ahmed (Reuters) -A nearly $15 billion JP Morgan fund is expected to reset its options positions on…
Wells Fargo to pay $97 million for sanctions compliance failures
By Hannah Lang (Reuters) -Wells Fargo & Co will pay fines of about $97.8 million for inadequate oversight of its…
Shorting global banks fetches $14.3 billion in paper profit in March – S3 Partners
(Reuters) – Short sellers made $14.3 billion in paper profit from their bearish bets on global banking stocks in March, according…
BlackRock calls on clients to rethink hedging strategy after UK pension crisis
By Tommy Wilkes LONDON (Reuters) – BlackRock’s liability-driven investment business is urging some smaller UK pension fund clients to stop…
Bank of America’s financial planning app draws $55 billion over two-plus years
By Lananh Nguyen and Nupur Anand NEW YORK (Reuters) – Bank of America Corp’s digital personal finance tool, Life Plan,…
Bank of America to redeploy wealth management, banking employees – source
(Reuters) – Bank of America Corp is redeploying employees in wealth management and lending to other roles within the company,…
Explainer-Why markets are in uproar over a risky bank bond known as AT1
LONDON (Reuters) – Financial markets have been thrown a fresh curve ball by the decision to write down 16 billion…
Block shares extend losses as Hindenburg report weighs
By Manya Saini (Reuters) – Shares of Twitter co-founder Jack Dorsey’s Block Inc fell 3% in afternoon trading on Friday,…
Short sellers make $100 million betting against Deutsche Bank in two weeks-Ortex
LONDON (Reuters) – Short sellers have made a profit of over $100 million on paper betting against Deutsche Bank stock…