American International Group Inc., the insurer that bristled at U.S. pay curbs, is nearing an end to Treasury Department compensation limits as Chief Executive Officer Robert Benmosche winds down a taxpayer bailout.
Gary Townsend, a founder of Hill-Townsend LLC, talks with Bloomberg's Margaret Brennan about Citigroup's first-quarter earnings report. Townsend discusses how he sees Citigroup earnings as a beat and a good quarter for the bank. He speaks on Bloomberg Television's "InBusiness with Margaret Brennan." (Source: Bloomberg)
Results of the stress tests of 91 European Union banks show the region’s problems are “manageable,” said Gary Townsend, chief executive officer of Hill-Townsend Capital LLC in Chevy Chase, Maryland, a hedge fund that specializes in financial firms.
JPMorgan Chase & Co.’s assertion that traders at its London chief investment office may have intentionally mismarked trades, masking losses that total at least $5.8 billion, makes little sense, according to former executives with direct knowledge of the unit’s operation.
JPMorgan Chase & Co. said interest- rate swaps and credit are among the biggest sources of revenue in its trading businesses, as it broke with most U.S. rivals by releasing a breakdown typically kept secret.
Capital One Financial Corp. Chief Executive Officer Richard D. Fairbank, who’s making the largest U.S. banking acquisition since 2008, has built the Virginia- based credit-card lender into one of the nation’s biggest consumer-financial companies.
The Federal Reserve sought to curb the threat of financial turmoil by compelling the biggest banks to follow a tougher standard for risk management and demanding stricter oversight by companies’ boards of directors.
AT&T Inc. and Verizon Wireless , the biggest U.S. mobile carriers, are planning a venture to displace credit and debit cards with smartphones, posing a new threat to Visa Inc. and MasterCard Inc. , three people with direct knowledge of the plan said.