Prosecutors Pretty Sure You Can’t Lose Your Banks $10 Billion Legally
Which is bad news for Bill Hwang and the Archegos crew.
Banks Seem Willing To Accept No Money In Exchange For Pretending Archegos Doesn’t Exist, Never Happened
Allianz also accepts that discretion is the better part of valor.
What Credit Suisse Lacks In Money Lost On Archegos It Makes Up For In Ominous Requests For Information
The Justice Department and Prudential Regulation Authority have some questions.
Deutsche Bank, Nomura Convicted Of Bankicide Against Fellow Lender Monte Dei Paschi
‘Twas nearly death by derivative, sayeth the courts.
Nomura Downgrades Target Price, Goldman Promptly Does The Exact Opposite
Power moves only over at 200 West Street.
Nomura Bond Traders Evidently Missed SEC's 'No Litvaking' Rule
You can lie all you want, just please, for the love of god, don't fabricate an email!
The Nomura VP Accused Of Insider Trading Really Made It Easy On The SEC
Let's give securities regulators a little more credit, OK?
Layoffs Watch '16: Nomura Planning To Ask A Number Of Employees To Join HR In The Conference Room
And not for a congrats on a job well done.
Brokers (Allegedly) Found Mysterious Line Between Legal And Illegal Lying, (Allegedly) Crossed It
A bunch of guys at Nomura know what we're talking about.
Nomura, Federal Judge About To Fine Nomura's Ass Have Small Disagreement About What Constitutes Truth And Accuracy
They're agreeing to disagree on this one.
Nomura: Last Time We Checked, It Wasn't Against The Law To Offer A Completely Bullsh*t Opinion About The Riskiness Of A Loan
You've heard the argument "It's not a lie if you believe it," yes? Apparently it's also not a lie if you don't believe it but file it under an "opinion" versus a "fact."
Layoffs Watch '12: Nomura
The company is still in the firing phase of the rebuilding process. Nomura Holdings cut a team of London proprietary traders focused on stocks as Japan’s largest brokerage scales back in Europe, said two people with knowledge of the matter. The group of about five traders was part of Nomura’s Angel Lane Principal Strategies, a unit that makes speculative wagers on markets with capital provided by the Tokyo-based bank, according to the people, who declined to be identified because the job cuts haven’t been announced. The team departing this week was led by Anthony Medina, a volatility trader who used options to bet on fluctuations in the prices of stocks, the people said. The departures are part of Nomura’s plan to reduce costs by $1 billion, with almost half the savings coming from Europe. The revamp in strategy follows a four-year struggle to build a business overseas following the purchase of Lehman Brothers Holdings Inc.’s European and Asian units in 2008. Nomura Said To Cut Team Of Proprietary Traders Focused On Stocks [Bloomberg]
Layoffs Watch '12: Deutsche Bank, Barclays, Nomura, Credit Suisse, UBS
Things could be better in Europe. Big investment banks in Europe, including Nomura, Credit Suisse and UBS, are stepping up plans to cut jobs as they seek to adapt to a drastic slowdown in revenues and tighter regulation. Bank executives, headhunters and analysts say that the cuts are shaping up as the deepest since the start of the financial crisis after a disappointing summer dashed hopes of a business revival. One senior headhunter said many large investment banks will have “at least 20 per cent” fewer staff in capital markets and M&A advisory business in Europe by the end of the year compared with late 2011. “It [the market] has never been as bad as this. Bankers have long lost confidence in their banks but now they are also losing their self-confidence, their mojo,” a senior advisory banker said. Among the banks that will reduce their investment banking workforce is Japan’s Nomura, where London-based bankers say that they expect several hundred jobs to be removed in Europe alone as part of a $1bn cost-cutting effort. Switzerland’s largest bank UBS, which cut staff levels earlier than rivals by announcing 2,000 job cuts in the investment bank after a $2.3bn unauthorised trading loss last year, is preparing for intensified cuts as it is seeking to streamline further the unit, several people familiar with the situation said. At Credit Suisse, insiders estimate that the additional SFr1bn ($1bn) in groupwide cuts that were announced in July will translate into up to 1,000 jobs being lost, most of which would be in the investment bank. Analysts expect also Deutsche Bank and Barclays to reduce their headcount further this year. Deutsche said two months ago it would reduce staff levels by 1,900. Investment Banks Eye Europe Job Cuts [FT]