What was Lloyds Banking Group’s Martin Chantree thinking? Four people with knowledge of the inquiry say he tipped off the bank’s trading position just ahead of its sale of sterling for the dollar. In the seven minutes etween his communication and the time Lloyds began executing the order on Jan. 13, 2013, the pound fell 16 basis points against the dollar, or 0.16 percentage point, its biggest move of the day, according to data compiled by Bloomberg. As the U.K. currency tumbled, costing Lloyds an estimated $750,000, Chantree told colleagues that maybe he shouldn’t have shared the information, two of the people said, according to reporting by Gavin Finch, Ambereen Choudhury and Liam Vaughan.
Therese Esperdy, a 17-year JPMorgan Chase & Co. veteran, suffered what she called “initial shock” in her first few weeks in Asia after three people told her some clients don’t want to pay merger-advisory fees.
IHH Healthcare Bhd., Asia’s biggest hospital operator, is weighing a bid of as much as A$5 billion ($4.5 billion) for Healthscope Ltd., the Australian health-care provider owned by TPG Capital and Carlyle Group LP, said two people familiar with the matter.
Pacific Investment Management Co., the world’s largest bond manager, hired Harley Bassman, who was a managing director at Credit Suisse Group AG’s securities arm, as an executive vice president and money manager.