Knight Capital Group Inc. faced growing pressure to find a savior as clients from Citigroup Inc. to Vanguard Group Inc. curtailed business with the firm following a software bug that triggered a $440 million loss.
John Phelan, who led the New York Stock Exchange into the modern era of competition and huge trading volumes and provided calm at the center of the storm when stock prices crashed in October 1987, has died. He was 81.
Hong Kong’s benchmark stock index rose, capping its longest winning streak since January 2011, as cement and automakers advanced today. Gains were limited after a China central bank adviser said the nation won’t provide big economic stimulus measures.
Nomura Holdings Inc. , Japan’s biggest brokerage, hired Citigroup Inc.’s Paul Sangimino to serve as co- head of U.S. cash equities with Pascal Bandelier , according to two people with direct knowledge of the appointment.