Continuing a wave of recent senior level hirings and management changes, Copenhagen based multi-asset trading and investment firm Saxo Bank has…
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UBS, RBS, JPMorgan, Citi, Barclays, HSBC heading towards EU settlement for FX rate rigging cartel
The Financial Times is reporting that several of the world’s leading banks are heading towards final negotiations on a financial settlement…
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Davos: Bank CEOs warn thousands of jobs to leave London post Brexit
The CEOs of two major international banks made similar warnings at the Davos World Economic Forum on Wednesday, that they…
Read MoreHSBC to become market maker for Yuan trading vs Swiss franc
There is an interesting piece of news confirming the growing interest in Chinese yuan trading. According to a report in…
Read MoreBarclays, RBS, HSBC agree to pay $924M for Forex manipulation in the US
The bill over FX market manipulation keeps growing for big investment giants, with three of the UK’s biggest banks –…
Read MoreFCA appoints HSBC UK CEO Anthony Simoes as Chair of Practitioner Panel
Antonio Simoes succeeds Alison Brittain, former Group Director of Retail at Lloyds Banking Group, who announced in May that she is leaving the financial services sector, and therefore the Panel, to join Whitbread plc as Group CEO
Read MoreSettlements of civil litigation by banks over FX rigging nears $2 billion – WSJ
HSBC, Barclays, BNP Paribas and Goldman Sachs have signed agreements to settle civil litigation relating to FX rate manipulation, bringing the total to almost $2 billion
Read MoreBrexit on the horizon? Bungling Bank of England staff send confidential letter to press in error
The Bank of England’s head of press leaked a memo in error to a British newspaper, stating that a taskforce has been set up, led by Sir John Cunliffe, to investigate the implications of Britain leaving the EU, making the possibility of a Brexit appear more likely than ever
Read MoreGlobal law firm Hausfeld, counsel against banks in the US, lifts the lid on FX rigging outcomes
The rights of customers cannot be subordinated to the self-interest of trader profit. The duties of financial institutions to those who entrust them with their investments must be respected. Where there is a failure of this responsibility, it must be clear that there will be accountability” – Michael D. Hausfeld
Read MoreWill HSBC pack its bags and leave the UK?
HSBC is set to review its domicile after tax scrutiny surrounds its Swiss private bank, and further FX manipulation fines arise. Could a Labour win at the polls be the final deciding factor?
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