UBS AG said it’s reviewing its precious metals business amid regulatory inquiries into the gold market, while the Hong Kong Monetary Authority reprimanded the firm for interest-rate rigging.
UBS AG traders tried to rig Hong Kong’s benchmark interest rate between 2006 and 2009, the city’s central bank said following a more than yearlong probe.
Credit Suisse AG named Rob Stewart as chief executive officer of its Australian business, succeeding David Livingstone, who is returning to London in a senior role.
Merrill Lynch & Co.’s suit seeking $9.4 million from Indonesian businessman Prem Harjani has no legal basis, a lawyer for the bank’s former private-banking client told a Singapore court today.
UBS O’Connor, the UBS AG unit with $5.2 billion of assets, plans to open its first Asia-focused hedge fund to investors later this year, said two people with knowledge of the matter.
Nomura Holdings Inc. hired Stanley Wong and Ajay Gupta from Bank of America Corp.’s Merrill Lynch unit to boost equities and derivatives business after recruiting three executives from the U.S. bank since May.
Transocean Ltd. , the owner and operator of the oil rig leased to BP Plc that exploded last month and killed 11 workers, asked a U.S. judge to limit its liability to $26.7 million.
Nomura Holdings Inc., Japan’s biggest brokerage, plans “some redundancies” in its Australian equities business in line with its global strategy, according to a memo obtained by Bloomberg News.
Nomura Holdings Inc. hired Yasuhiro Fujiwara, a former Bank of America Corp. veteran, as head of equities for Asia excluding Japan, according to a memo obtained by Bloomberg News.
Nomura Holdings Inc. appointed Mark Williams as head of investment banking for Asia outside Japan to replace Patrick Schmitz-Morkramer, according to an internal memo obtained by Bloomberg News.
"We are pleased that the investigation of the HKMA returned the same results as our own internal investigation-- no collusion among banks and no noticeable impact on the fixing of Hibor."
- Rob Stewart on Mar 14, 2014