Biden Nears Endgame on Fed Chair Decision

President Biden is expected to reveal as soon as this week his choice to lead the Federal Reserve, with Democrats divided over whether to offer Jerome Powell a second term or replace him with Lael Brainard. 


 
UBS Names Colm Kelleher as Next Chairman

The longtime Morgan Stanley executive is set to take over board leadership from Axel Weber next year. 


 
Wall Street Fines Fall 18% in First Year of Biden Administration

The Securities and Exchange Commission obtained $3.9 billion in fines during its latest fiscal year compared to a record of more than $4.6 billion the previous period. 


 
Deutsche Bank Names Next Chairman

Former insurance company CEO Alexander Wynaendts will succeed Paul Achleitner when he retires in May 2022 after overseeing the bank for a decade. 


 
Mass PRIM Puts $1 Billion Into Program to Cultivate Diverse Managers

The Massachusetts Pension Reserves Investment Management Board plans to allocate $1 billion over the next two years to develop a cadre of small or recently-established diverse investment managers 


 
Alpine Investors Launches Pet-Investment Venture Antelope

Alpine Investors has launched a new venture to acquire consumer pet companies and intends to create a portfolio of natural and sustainable brands through a buy-and-build strategy. 


 
McKinsey Paying $18 Million to Settle SEC Investigation Over Insider-Trading Controls

McKinsey settled allegations it didn't adequately guard against the risk of insider trading involving investments in companies for which the firm was also a consultant. 


 
Citadel CEO Kenneth Griffin Outbid a Group of Crypto Investors for Copy of U.S. Constitution

The 53-year-old billionaire paid $43.2 million for the historic document, which he plans to lend to a museum in Arkansas. 


 
In Post-GameStop Reform Push, SEC Seeks More Stock-Lending Disclosure

The Securities and Exchange Commission is moving to bring greater transparency to the securities-lending market, where short-selling hedge funds borrow shares to bet against companies' stocks. 


 
SoftBank Vision Fund CFO Cautions Not All Investments Will Be the Next DoorDash. Many Are Likely to Fail

SoftBank Vision Fund CFO Navneet Govil spoke to the Journal about the fund's investments in China, its recent losses, crypto and other topics.

(END) Dow Jones Newswires

11-22-21 0015ET