Wells Fargo & Co., seeking to earn more from a sales-and-trading business acquired with Wachovia Corp. in 2008, is building a program-trading group to serve institutional and corporate clients.
Stockton, California filed bankruptcy after talks with bondholders and labor unions failed, making the agricultural center the biggest U.S. city to seek court protection from creditors.
JPMorgan Chase & Co. won dismissal of $19 billion in claims in a lawsuit brought by the trustee liquidating Bernard Madoff’s former firm that alleges the biggest U.S. bank aided the fraud.
Wells Fargo & Co. is betting its securities business can thrive 600 miles from New York in the same city Bank of America Corp.’s traders largely abandoned.
John Roncevich, the former head of Wells Fargo & Co.’s commodities business, has left the lender and formed a venture to advise banks on ways they can sidestep some of the new regulations affecting the industry.
Four men arrested last month for allegedly participating in a “criminal club” that made almost $62 million using illegal tips to trade in Dell Inc. stock pleaded not guilty.
"Wells Fargo has robust policies and training programs in place on the handling of confidential information, and we have a zero-tolerance policy for the misuse of such information."
- Elise Wilkinson on Dec 13, 2012