FINANCIAL SERVICES Archive

European banking bosses are getting paid a lot less than their American counterparts

Chief executives at European banks are getting a rough deal compared to their American counterparts, according to new research published in the Financial Times. The research, by PriceWaterhouseCooper and commissioned by the FT, shows that on average, chief executives in major American banks earn more than twice than those in charge of European banks. In [&hellip

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Bank of America CEO Brian Moynihan cannot wait for the Fed to hike rates

Bank of America CEO Brian Moynihan is looking forward to December. He’s not necessarily expecting an extravagant gift. But, if Federal Reserve Board of Governors Chairwoman Janet Yellen is making a list, what he wants is a rate hike. In an interview with Bloomberg Television’s David Westin on Tuesday November 10, Moynihan was asked what [&hellip

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China says no tough rules for foreign bank card firms

Source photo China will not impose tough licensing restrictions on overseas bank card providers seeking to enter the country’s $7 trillion card payment market, a senior central bank official said on Tuesday. Industry sources told Reuters in October that they were concerned the Chinese government would limit the number of licenses issued to foreign card [&hellip

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Financial aid gatekeepers may be getting new gates of their own

Source photo Earlier this summer, a video about college accreditors went viral — or at least as viral as a video on an obscure higher education policy topic can go. In the video, Sen. Elizabeth Warren (D-Mass.) grills Albert Gray, the president of the Accrediting Council for Independent Colleges and Schools, which allowed the for-profit [&hellip

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Wary investors eye China’s back-door entry into MSCI indexes

Source photo MSCI will begin to add overseas-listed Chinese shares to its emerging market indexes this month, drawing billions of dollars into such stocks, which could eventually lead to mainland-listed companies finding their way into global equity portfolios. The index provider’s decision in June not to include domestically listed China stocks, known as A-shares, in [&hellip

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One of the world’s biggest banks still doesn’t know where it should be based

When a bank the size of HSBC, which has a $2.6 trillion (£1.7 trillion) balance sheet, looks at moving its headquarters, it creates waves. The bank said on Monday that its review into where its headquarters should be based is taking longer than it thought, and probably won’t make a decision this year. Here’s what [&hellip

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Clinton calls for Export-Import Bank reauthorization

U.S. Democratic presidential candidate Hillary Clinton called on Wednesday for reauthorization of the recently shuttered U.S. Export-Import Bank. Clinton, speaking during a campaign stop at St. Anselm College, urged the U.S. Senate to act on a procedural move made by the House to revive the bank. The measure received nearly unanimous Democratic support. “For the [&hellip

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No one seems to want to be New York’s top banking regulator

The regime change at the New York Department of Financial Services is far from over. Acting DFS superintendent Anthony Albanese is quitting, according to a report from The Wall Street Journal. His departure comes as New York Governor Andrew Cuomo’s search to replace Benjamin Lawsky drags on. Lawsky quit earlier this year, relinquishing his role [&hellip

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It’s getting harder to put Wall Streeters behind bars

US Southern District Attorney Preet Bharara has racked up dozens of convictions of insider traders like Galleon Group CEO Raj Rajaratnam and former McKinsey managing director Raj Gupta. But recent high-profile cases being overturned in appellate courtrooms could open the SEC to a flood of challenges and hamper its ability to prosecute existing cases in [&hellip

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JPMorgan joins proxy access trend, adopts clawback disclosure

Source photo JPMorgan Chase & Co said on Monday its board will consider a bylaw amendment to make it easier for small groups of investors to run candidates for the New York bank’s board of directors. That move came just hours before fast-food leader McDonald’s Corp announced that its board amended company bylaws to provide [&hellip

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