BofA to Hand Over Documents Related to Its Merrill Deal (WSJ)
The bank apparently reversed its decision to give up the legal advice it got re: acquiring Merrill Lynch in an effort to "pave the way to a settlement of various investigations" and "restore stability" post Ken Lewis announcing he was leaving the building.
Goldman Sachs Downgraded by Meredith Whitney (Bloomberg)
The Dollar Dominatrix downgrades Lloyd and Co. to neutral from her July 13 buy call (the same time she said Goldman Sachs "still has a lot of gas in its tank").
Third of RBS Coutts staff in Singapore quit (Reuters)
Twenty "key" managers along with 50 support staff have quit due to "bonus prospects" or lack thereof, though a spokesman for RBS would say only that "staff volatility in the private banking industry is not unusual, especially in Asia."
JPMorgan tries to calm fears over UK (FT)
Employees in London are a bit nervous about the unexpected ousting of Bill Winters so Jamie Dimon and other executives have embarked on a "charm offensive" to let everyone know things are cool.
Regulators Target 'Naked' Access (WSJ)
This one comes with a fun 'how it works' diagram.
CIT's Jeffrey Peek To Resign (MarketWatch)
He's gone as of December 31. "By strengthening CIT's financial position, the company will advance its bank-centric model and invigorate its market-leading franchises which support the small business and middle market sectors of the economy," said Peek in a statement.
Tax Evaders Face Choice: Pay or Pray (NYT)
"A lot of people remain in denial and remain willing to take their chances and not come forward," said Robert F. Katzberg, a white-collar criminal defense lawyer in New York, who has nearly 20 clients with hidden accounts. "The numbers are much larger on the amended returns side," said a second government official briefed on the matter. "It's a high-stakes poker game."