BNY Mellon Vice Chairman Bill Daley Has Left Bank
Bill Daley, the former White House chief of staff, has left his post at Bank of New York Mellon less than five months after the bank announced his arrival.
China Zheshang Bank Plans Shanghai Listing
China Zheshang Bank is seeking to raise $1.78 billion from a secondary listing on the Shanghai Stock Exchange.
U.S. Bancorp Cuts Assistant Branch Managers
A spokeswoman declined to provide a number of employees affected by the cuts, but said it would affect less than 2% of its workforce.
U.S. Companies Advised to Prepare for Multiple Benchmark Rates in Transition from Libor
Advisers to globally expanding U.S. companies are recommending that they prepare to use several short-term lending benchmarks when the London interbank offered rate falls out of use.
TD Ameritrade Revenue Forecast Tops Analyst Estimates
The electronic broker said it expects revenue to fall about 15% next year after it nixed trading commissions, an estimate that isn't as severe as analysts predicted.
Investment Bankers Charged in Global Insider-Trading Scheme
The alleged insider trading ring has ensnared securities traders, the son of a pharmaceutical executive, bankers and others in a wide-ranging federal investigation.
Judge Denies Agency's Authority to Issue Fintech Bank Charters
A federal banking regulator doesn't have the authority to grant national charters to financial technology companies, a federal judge ruled.
UBS Takes Restructuring Charge as Profits Fall
UBS said it would weather tougher banking conditions by tightening up the focus of its investment bank and charging large clients for deposits, as it posted a fall in third-quarter profit.
Travelers' Profit Declines
Travelers Cos.' earnings fell in the third quarter as the insurance company added to its reserves due to an increase in claims payments for lawsuits and jury awards.
Santander Sells Puerto Rico Business for $1.1 Billion
Banco Santander has agreed to sell its retail and commercial operations in Puerto Rico to FirstBank Puerto Rico for about $1.1 billion.