BlackRock Inc., the world’s biggest money manager, and Pacific Investment Management Co. are among investors that sued banks including Citigroup Inc. and Deutsche Bank AG over their roles as mortgage-bond trustees, as investors continue to try to recover losses from the financial crisis.
Bank of New York Mellon Corp. agreed to sell its headquarters tower at 1 Wall St. in lower Manhattan to Harry Macklowe’s Macklowe Properties for $585 million, a person with knowledge of the transaction said.
The U.S. Securities and Exchange Commission agreed to drop an administrative action against former Goldman Sachs Group Inc. director Rajat Gupta, and he pledged to dismiss a lawsuit claiming the regulatory proceeding violated his constitutional rights.
Bank of New York Mellon Corp. plans to sell Manhattan’s 1 Wall St., the Art Deco skyscraper that serves as its corporate headquarters, and has hired brokers to find a smaller amount of space to lease elsewhere.
Bank of New York Mellon Corp . and State Street Corp ., the two largest independent custody banks, said they are satisfied with last-minute changes by U.S. lawmakers to a financial-regulatory overhaul that protect their investment-management businesses.