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Tough Times at RBS
The chief executives of Nomura and Royal Bank of Scotland should probably get together for a consolatory drink this week: Both of their investment banking operations are being completely overhauled.RBS...
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JPMorgan to Hire in 2012
Despite a weak second half and continued market volatility last year, JPMorgan added 20,300 employees and intends to keep hiring in certain areas in 2012.The bank increased total headcount to 260,157,...
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MF Global Chicago Office Center of $1.2 Billion Probe
Investigators on the hunt for an estimated $1.2 billion in customer money missing since MF Global Holdings Ltd. collapsed are zeroing in on the securities firm's back-office operations in Chicago,...
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The Week(s) Ahead
After JPMorgan's lackluster earnings report last Friday, analysts are expecting more of the same from Goldman Sachs, Citigroup, Bank of America and Morgan Stanley. While JPMorgan managed to hire 20,000...
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Morgan Stanley Bonuses to Drop
Responding to a difficult environment for Wall Street, Morgan Stanley plans to tell employees this week that bonuses will drop sharply, with cash payouts capped at $125,000, according to people...
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Lower Pay Coming for Fannie, Freddie CEOs
Government regulators will cut sharply the pay of the executives they hire to succeed the departing heads of Fannie Mae and Freddie Mac, said regulators, which may make it difficult for the struggling...
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Citigroup Hikes Expense Cuts After Laying Off 5,000
After cutting 5,000 jobs last year, Citigroup plans to increase annual expense reductions to between $2.5 billion and $3 billion this year, executives said while reporting earnings for the year and...
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Hiring at JPMorgan, Marsh & McLennan and in the Gulf
Tip: JPMorgan to Hire in 2012Despite the weak economy, JPMorgan was able to hire more than 20,000 people in 2011 and will continue bringing on employees in 2012. It's focused on its retail consumer...
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Wall Street and Washington Pay Cuts Coming
Banks are busy writing bonus checks and sending them direct deposit to bankers' checking accounts, but the envelopes will be a little thinner this year.Morgan Stanley will cap bonuses at $125,000 for...
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Goldman Cut 2,400 Jobs, Plans More
Even the most sought-after and prestigious investment bank in the business sometimes has to retool its strategy to stay profitable. Goldman Sachs, which had originally planned to eliminate 1,000...
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Nomura Names Fixed Income Head After Lehman Departuress
Nomura Holdings Inc. has appointed Steve Ashley as its global fixed income head and Georges Assi as his deputy, according to a memo seen by Wall Street Journal. Mr. Ashley joined Nomura in May 2010 as...
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For Wells Fargo, Banking's a Breeze
It's easy to be nonchalant when you're doing well. Wells Fargo's investment banking and capital markets business is moving up the league tables and Chief Executive John Stumpf "couldn't care less,"...
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J.P. Morgan Names Zajkowski Equity Capital Head in Asia
J.P. Morgan Chase & Co. has appointed Jeff Zajkowski as head of equity capital markets for the Asian-Pacific region, a person familiar with the situation said Thursday, as part of efforts to add...
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S&P's Peterson Calls Team 'World Class'
Doug Peterson, the new president of Standard & Poor's Ratings Services, defended the firm's downgrades of U.S. and European sovereign bonds, rebuffing criticism the ratings company had become more...
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Morgan Stanley Upped Average Comp, Says Job Cuts Completed
Morgan Stanley said average compensation increased 4% last year to $264,990 per employee and it completed its plan to cut 1,600 jobs. On a conference call reporting on the bank's fourth quarter...
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BofA Plans More Layoffs Under 'New BAC'
Bank of America plans to continue cutting jobs after reporting in its year-end earnings statement that employment fell by 5,874 in the fourth quarter and 3,836 over the year in 2011.The bank didn't say...
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The Bonus Doldrums
After months of speculation, the bonus and compensation numbers are finally here, and they're not too good. At JPMorgan, "flat was good," a person who works at the firm told FINS, referring to no...
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Forget the Resume, Try Tweeting
Consider adding this to your 2012 career goals: Reinvigorate your job hunt with a twist to the predictable print resume. The 8x10 white paper (off-white for those thrill-seekers) with 12-point font...
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Après Moi, le Déluge
A few times in its history, France has wanted to embark on ambitious global expansion plans. This time, investment banks that once envisioned themselves stretched around the world now have to temper...
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Wall Street Chiefs See Bonuses Lowered
Wall Street's pay crunch is squeezing some wallets harder than others.J.P. Morgan Chase & Co. disclosed Friday that Chief Executive James Dimon received a 2011 stock bonus valued by the company at...
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