Amid Shake-Up, Barclays’ Investment Banking Chief Steps Down

 April 19, 2013

Barclays, the global bank that has been in the spotlight over its role in a rate-rigging scandal, is shaking up its management ranks as it seeks to distance itself from the era of Robert E. Diamond Jr., its former chief executive. Rich Ricci, the head of the bank’s investment banking group, and Thomas L. Kalaris, […]

Barclays cuts 3,700 jobs in overhaul

 February 28, 2013

The new boss of Barclays has attempted to break from the bank’s scandal-ridden recent past by announcing plans to pull out of controversial businesses that speculate on food prices, specialise in “industrial scale” tax avoidance schemes and use the bank’s money to bet on markets. Antony Jenkins, promoted to the top job last year when […]

Barclays misled shareholders about source of £3bn

 February 18, 2013

Barclays misled shareholders and the public about one of the biggest investments in the bank’s history, a BBC Panorama investigation has found. The bank announced in 2008 that Manchester City owner Sheikh Mansour had agreed to invest more than £3bn. But the BBC found that the money, which helped Barclays avoid a bailout by British […]

Motivations to Invest in Art

 February 10, 2013

Diversification: An investment in art can be an effective tool to reduce the risk exposure of a carefully planned investment portfolio. This would be an ideal measure to employ during a period of market volatility. The prerequisite here, is top-quality art and a long-term view of 10 years or more. Research supports the ability of […]

Attorney General Eric Holder blasted for HSBC settlement

 January 15, 2013

The top Republican on the Senate committee that oversees the Justice Department issued a blistering criticism of Attorney General Eric Holder and his department for failing to pursue criminal charges against a giant global bank that admits violating federal laws by laundering money on behalf of Iran, Libya, Sudan and Myanmar. Sen. Charles Grassley, R-Iowa, […]

Bad language can catch financial rogues

 January 14, 2013

Phrases such as “nobody will find out”, “cover up” and “off the books” are among those most likely to litter the in-boxes of corporate rogues according to fraud investigators deploying increasingly popular linguistic software. Expressions such as “special fees” and “friendly payments” abound for those embroiled in bribery cases, while rogue employees feeling the heat […]

Financing web threatens HSBC China deal

 January 13, 2013

Even by the Byzantine standards of business deals in China, the twists and turns in the potential collapse of HSBC’s $9.4bn exit from its stake in Ping An Insurance are exceedingly complex. But the ultimate reason that threw the sale in doubt may be quite simple. The most plausible explanation is a change of heart […]

Can penalties control banks?

 January 01, 2013

UBS to pay $1.5 billion over Libor manipulation, HSBC paid $1.92 billion for failing to stop money laundering, Standard Chartered paid $667 million, ING, $619 million, Credit Suisse, $536 million, ABN AMRO $500 million and the list goes on and on. While the number of fines imposed on banks has remained constant over the past […]

Monaco trustee must pay $25m

 October 09, 2010

A MONACO-BASED businessman, who acted as a trustee for Caribbean-based companies that regularly bought and sold shares in Australia, has been ordered to pay about $25 million in tax and penalties on the proceeds of his clients’ deals. Norman Leighton, who owns an international trust administration business called Leighton & Leighton based in Monaco, administered […]

ING Bank (Switzerland) merged into Bank Julius Baer

 March 02, 2010

As a result of the merger ING Bank (Switzerland) Ltd (“ING Bank”) has been fully absorbed by Bank Julius Baer & Co. Ltd. (“Bank Julius Baer”). This means that Bank Julius Baer has assumed the business of ING Bank and will continue the business operations under its own name. The technical migration of ING Bank’s […]

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