Tag: banking

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  • HSBC promotion freeze

    HSBC is under a ‘promotion freeze’ through 2017

    Employees at HSBC might need to wait until January 2018 before they see their next promotion. The company is reportedly under an unofficial “promotion freeze” through 2017. According to the New York Post, the company is attempting to rein in costs, with a plan that effectively stalls career development for investment bankers. It also delays promotions […]

  • Chase Cardless ATM

    Chase Will Soon Let You Use Its ATMs Without A Card

    JPMorgan Chase will soon be rolling out a new card-less ATM system, allowing customers to withdraw cash from the bank’s automatic teller machines without the use of a debit card. The change will involve upgrades to existing ATMs and new machines with the card-less technology. Customers will be able to use their Chase smartphone apps […]

  • JPMorgan Chase CEO Jamie Dimon got a payraise last year

    JPMorgan CEO Jamie Dimon gets first pay raise in two years

    JPMorgan Chase CEO Jamie Dimon got his first raise in two years in 2015, even though many shareholders had objected to his pay package. Dimon received $27 million in 2015, up 35% from the $20 million he received in both 2014 and 2013. The company’s CEO had no change in his base pay, which remained steady […]

  • Barclays Memo

    The CEO of Barclays’ investment bank just sent a memo to employees that outlines the future

    Business Pundit reported earlier today that Barclay’s is preparing to layoff about 1,000 workers from its investment banking division. Following that big news Tom King, CEO of the company’s investment bank, sent out a memo to the company’s employees. In his message King says the company will close its Moscow office, stop stock trading in […]

  • Citigroup

    Citi reports profit jump thanks to lower legal bills

    Citigroup has reported a big leap in quarterly profit as a sharp drop in legal costs and gains from the disposal of unwanted assets more than made up for weak revenue in its core business. The bank’s legal and repositioning costs fell to $724 million in the fourth quarter, down from $3.55 billion a year earlier. CEO Michael Corbat […]

  • Herve Falciani sentenced

    HSBC Whistleblower Sentenced To Five-Years In Jail

    Herve Falciani, an ex-employee of HSBC’s Geneva private bank has been sentenced to five years in jail. Falciani leaked information on clients and their tax situation. He was sentenced for agravated industrial espionage, the bank said on Friday. HSBC said it welcomed the ruling on Falciani, a 43-year old French citizen who had been on […]

  • Brazil Corruption Arrests

    The CEO Of Brazil’s Largest Investment Bank Has Been Arrested

    Officials in Brazil have arrested the CEO of the largest investment bank and the governing party’s leader in the nation’s Senate on Wednesday. The country’s Supreme Court authorized arrest warrants for Senator Delcidio Amaral and Andre Esteves — the billionaire CEO of BTG Pactual. The arrests, issued for obstructing justice, arrive as the bank is being […]

  • Goldman Sachs

    Goldman Sachs Revenues Plummet In Almost Every Area Of The Business

    Goldman Sachs profits plunged 38 percent in Q3 2015, its second straight quarterly drop. Revenue fell in all of the bank’s major businesses with the exception of investment banking which was helped along by a surge in takeovers. The company was hit in areas such as investment management to bond, and currency and commodities trading. […]

  • General Electric and Wells Fargo 30 billion dollar deal

    GE Selling Its Lending And Leasing Business To Wells Fargo For $32 Billion

    General Electric is selling the largest remaining chunk of its U.S. financial services business to Wells Fargo. While financial information from the deal was not released, it is believed the company will sell $32 billion of assets and transfer approximately 3,000 employees from GE Capitals global commercial distribution finance, North American vendor finance and corporate finance […]