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Morgan Stanley expects $200 million fine for misuse of personal devices
Meanwhile, the firm's wealth management franchise reported positives for the second quarter despite the broad stock market decline seen so far this year.
Citigroup private banker gets $1.4 million in harassment claim
A Finra arbitration panel rules in favor of Erin Daly, who filed a federal complaint against Citigroup alleging gender discrimination.
Duo managing $850 million at Citi moves to Raymond James
Yaakov Ringler and Yonatan Marom will lead the Israel Group of Raymond James in New York.
SEC pries into over 100 traders’, bankers’ phones in texting probe
The agency has been sending firms lists of key positions including heads of certain investment banking teams or trading desks.
Smarsh acquires tech to help firms monitor messaging apps
The Telemessage technology, combined with existing services from Smarsh, will assist in the ongoing struggle to monitor private messaging apps used by employees at financial services firms.
Goldman is pulling out of most SPACs over threat of liability
The firm, which was the second-biggest underwriter of special purpose acquisition companies last year, has been telling sponsors of the vehicles it will end its involvement, sources said.
Bank ETF posts biggest cash exodus since 2020 ahead of earnings
More than $2.5 billion has exited the $42 billion Financial Select Sector SPDR Fund last week.
JPMorgan agrees to racial-equity audit for $30 billion effort
The biggest U.S. bank will hire a third party to perform the audit and publish a report on the results by the end of this year.
New Citigroup unit to sell products through independent advisers to wealthy investors
Citi Alliance will be providing core banking and lending solutions to independent advisers and broker-dealers.
Firms outline DEI efforts for Black History Month
Financial services companies recognize Black History Month, and DiversityQ has guidance for being a better ally.
Goldman, Citi strategists say it’s now time to buy stocks
'Any further significant weakness at the index level should be seen as a buying opportunity, in our view,' Goldman strategists say.
BofA brings employees back to some U.S. offices as Covid cases decrease
As coronavirus conditions improve across the country, employees across major financial firms are being asked to come back.
Goldman backtracks on return-to-office as omicron surges
Other banks that have revised their staffing strategies and eased off mandates to return to the office amid the jump in infections include JPMorgan, Citibank, Bank of America and Jefferies.
Citi to hire 100 for push into digital assets
As part of the effort, the bank tapped Puneet Singhvi to be its new head of digital assets inside the institutional clients group.
Citi requires vaccines for all US workers
The bank, citing President Joe Biden's directive to federal contractors, is asking staffers to submit proof of vaccination by Dec. 8.
Citi becomes first Wall Street bank to agree to racial audit
The deep dive into the bank's business will be conducted by lawyers at Covington & Burling, and will focus on Citi's 2020 commitment to dedicate $1 billion to initiatives aimed at closing the racial wealth gap in the US.
American Express returns to financial planning
The company unveiled a new tool, called My Financial Plan, that is certainly akin to the work done by financial advisers, but is stressing publicly that it is not eying an avenue back into the wealth management business.
Banks making cheap loans to the ultra-rich
Rock-bottom interest rates have fueled the biggest borrowing binge on record, and even billionaires with enough cash to fill a swimming pool are loathe to sit it out.
Nasdaq teams with Citi, other banks on market for private stocks
Nasdaq Inc. has formed a joint venture with Citigroup Inc., Goldman Sachs Group Inc. and Morgan Stanley to establish a trading venue for shares of closely held companies.
Citigroup debuts no-fee stock trading
The bank's new offering puts it into competition with robo-advisers, discount brokerages and some big-bank peers.