Securities Lending News
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Wells Fargo & Co. marketed a risky securities-lending program as safe and cost institutional investors millions of dollars in losses, a lawyer said at the start of trial.
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Wells Fargo & Co. faces a second Minnesota trial over claims by institutional investors that the bank marketed a risky securities-lending program as safe and cost them millions of dollars in losses.
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Wells Fargo & Co., the bank building a securities business to challenge Wall Street, promoted Dan Thomas to help clients clear trades and manage collateral and hired Deutsche Bank AG’s Eamon McCooey to run hedge-fund services.
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Nigeria plans to sell inflation- linked bonds to address the concern of investors about the impact of inflation on the domestic debt market, the Debt Management Office said.
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HSBC Holdings Plc, the largest European bank by assets, plans to double its Asia-Pacific prime finance team’s cut of hedge-fund assets in the coming year, said Melvyn Ford, regional head of the business.
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Wells Fargo & Co., citing “new facts,” asked a judge to revoke the class-action status he bestowed on a suit by institutional investors who claimed the bank marketed a risky securities-lending program as safe.
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Bank of New York Mellon Corp., the world’s largest custody bank, is hiring as many as 100 people in its wealth-management unit as it seeks to counter lackluster earnings in other businesses.
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Banks and brokers face a clampdown on using assets they hold for clients as collateral for their own trades as part of European Union moves to bolster market stability and rein in shadow banking.
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Following is the text of a lecture Bank of Canada Governor Mark Carney is delivering today in Edmonton. Footnotes and charts have been removed.
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American International Group Inc.’s resumption of securities lending at a life insurance division would carry risks for the company and be negative for bondholders, Moody’s Investors Service said today.
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