Growing reports out of London suggest that British Prime Minister David Cameron is increasingly frustrated with European Union policies, and he could soon warn Europe that he might support calls for a British exit from the European Union if no compromises are reached. The increasingly contentious tone reportedly has prompted foreign banks based in London to already begin exploring their options.
Hong Kong is reportedly working around the clock to meet the October go-live date for its link to the Shanghai Stock Exchange. As markets closely watch progress on the project that will for the first time open up Chinese capital markets to real-time trading by international investors, some details of trading through the new link are beginning to emerge.
Having dispersed some back office jobs or support jobs to places like New Jersey, Delaware or Florida, JPMorgan is reportedly considering moving a leaner central headquarters team into a new building.
Citigroup has reaffirmed its commitment to its Hong Kong hub by agreeing to pay $700 million for new headquarters in a deal that sets a record for the cost of a single-block office building in the city-state. The new office tower, when completed, will be 21 stories and 512,000 square feet.
Citigroup plans to sell its OneMain consumer lending business by the end of this year or early next year, according to Citigroup's CEO Michael Corbat. Citigroup has been interested in selling the unit since after the financial crisis but was not willing to let it go for the prices offered, Corbat said, but now the timing seems right.
The investigation federal officials reportedly opened into the alleged fraud that took place at Citigroup's Mexican subsidiary may have raised the stakes for the bank, as well as questions about its financial controls.
With Microsoft scheduled to withdraw support for its XP operating system April 8, banks around the world are negotiating support extensions as they scramble to upgrade automated teller machines to Windows 7. Several banks are reportedly using the forced migration to modernize their ATMs, adding new capabilities such as reading chips instead of magnetic stripes.
After a banner 2013 for FCPA enforcement, 2014 looks as if it will offer more of the same
A unit of Citigroup Inc. in Poland took the unusual step of partnering with the International Compliance Association (ICA) to develop an undergrad anti-money laundering course focused on challenges...
UBS will outsource most of its fixed income trading platform to two vendors, according to a Financial Times exclusive. The move to revamp its trading platform infrastructure with more standardized vendor solutions continues the radical restructuring of fixed income operations first announced by the bank in 2012.