Vilified for worsening the financial crisis, the credit derivatives market is undergoing a structural shift as money managers take on risk shunned by banks after regulators forced lenders to shrink their dealings.
Mark Wiedman, who oversees the world’s largest lineup of exchange-traded funds at BlackRock Inc., cut fees and forged a partnership with Fidelity Investments to attract more individuals to his iShares ETFs.
One hundred fifty years ago, the U.S. was two years into a brutal Civil War. The financial cost left the federal government under enormous stress, leading to a result no one had imagined: the first modern system of bank regulation.
Two Bank of America Corp. liquefied natural gas traders will join Noble Group Ltd. in July, according to three people familiar with the situation, who asked not to be identified because the move hasn’t been announced.
U.S. Senator Elizabeth Warren, a Massachusetts Democrat and longtime consumer advocate, said in an interview on Bloomberg Television’s “Political Capital with Al Hunt,” airing this weekend, that she expects incoming Federal Reserve Board Chairman Janet Yellen will be a more aggressive financial regulator than her predecessor, Ben S. Bernanke.
Chancellor of the Exchequer Alistair Darling will announce his plan to reshape the banking industry and regulation of the financial services industry next month after reviewing a report on the matter released today.
The event was a June 8 American Bankers Association conference on international economics in Atlanta, and the keynote speaker was Federal Reserve Chairman Ben S. Bernanke. During a question-and-answer period, Jamie Dimon, chief executive officer of JPMorgan Chase & Co., waited patiently while several other bank executives threw polite queries at the central bank head, Bloomberg Markets magazine reports in its October special issue on the 50 Most Influential people in global finance.