JPMorgan Chase & Co., the lender whose legal and regulatory battles led to more than $23 billion in settlements in 2013, said Chief Compliance Officer Cindy Armine left to join another firm after a year on the job.
First Data Corp., the payment processor that isn’t earning enough money to reduce its $23 billion debt load from a 2007 buyout, is raising optimism among bondholders that it will sell shares to cut leverage.
Leveraged-buyout firms led by billionaire Leon Black’s Apollo Global Management LLC, seeing fewer bargains in acquiring companies, are loading up on high- risk debt being abandoned by the world’s biggest banks.
More speculative-grade U.S. loans are trading above par than at any time since May, exposing investors who are funneling record amounts of cash into the debt to greater risks as rising prices encourage borrowers to refinance at lower interest rates.
First Data Corp. , the payments processor controlled by KKR & Co., faces “generally neutral” impact from new U.S. rules that may cut debit-card transaction fees 84 percent, according to Credit Suisse Group AG.