Goldman Sachs now has a 12-member board of directors with the most recent addition being M. Michele Burns, the former chief executive of HR consulting firm Mercer.Wells Fargo’s board of directors has elected Federico F. Peña, a senior advisor of Vestar Capital Partners, and former U.S. Secretary of Transportation and U.S. Secretary of Energy, to the firm’s board of directors.
Bank of America hired Morgan Stanley managing director Glenn Koh to head the bank’s derivatives trading in the Americas.
A federal judge tossed part of the SEC’s lawsuit against Edward Steffelin, the only person charged in a JPMorgan Chase case that led to the bank’s $153.6 million settlement of civil fraud charges on a mortgage-bond deal.
A former bank agent will have to serve two years probation and do 100 hours of community service for stealing a meat slicer, chairs, bowls and a bunch of other stuff from a bed and breakfast that was in foreclosure by his former employer, Quantum Bank.
It was a bloodbath at FBR Capital Markets with 100 jobs being cut. The firm plans to cut up to 35% of its staff.
FBR’s leveraged finance bankers Chris Cunningham and Glenn Medwar as well as the head of high-yield debt trading, Frank Ferrantelli, were all cut in the recent bloodbath.
A New York-based production company is in the pre-production phase for an investigative financial mafia drama movie about the Galleon insider trading scheme called “Billion Dollar Raja.”
The bank bonus pool in London is expected to shrink by 38% to just £4.2 billion — the lowest level since 2002-2003.
Hedge fund superstar Bill Ackman, the founder of Pershing Square, is sharing his investing wisdom by participating in an online lecture series for both Harvard and Yale students.