The pressure on the banking industry from the
raft of unfair dismissal cases continues to ratchet up with two more claims
slated for the next two weeks, one a discrimination claim.
Citi is facing a pay
and sexual discrimination claim ...
The latest figures from CLS show that April was the busiest month this year for the settlement system.
Both volumes and values were up compared to March. Daily average value submitted to CLS recorded at $4.96 trillion, up 5.7% from the previous ...
In remarks delivered yesterday, William Dudley, president and CEO of the Federal Reserve Bank of New York, welcomed the addition of more reserve currencies to the international monetary system, provided they meet certain criteria.
“Although a reserve currency can formally ...
Jon Pierce, the long-serving co-head of EMEA FX spot trading
at Goldman Sachs in London, has left the bank. Goldman declined to comment, but
market sources say that he has decided to retire “to count his money’.
Few will begrudge ...
Well-placed sources suggest that Scotiabank has closed its
FX sales and trading desks in London.
A call to the bank in London last week elicited the strange
response that it was still providing an FX service, but that HR could ...
One of the fallouts from the so-called FX chatroom scandal
is that many banks are now petrified of providing their clients with
information. This may well get worse as new rules and regulations, such as the
EU’s looming Market ...
Seven banks have settled a private US
lawsuit accusing them of rigging
the ISDAfix interest rate benchmark, and agreed to pay $324 million. The
settlement comes five weeks after a US District Judge refused to dismiss the
The settlement requires
BNP Paribas has hired Cyril Cottu from Goldman Sachs, where
he was head of the FICC EMEA sales middle market initiative. Starting in July,
Cottu will assume a senior role in the bank’s eCommerce business, reporting to
Rudi Collin, ...
The past 10 days has seen two FX traders
successfully win their cases for unfair dismissal against their former
employers. As reported exclusively by Profit
& Loss, on April 15, Paul
Carlier won his case against Lloyds and on Friday Profit & Loss broke ...
Turkey’s new central bank governor Murat Cetinkaya has, as
expected, started life in his new job by cutting rates. The Central Bank of
Turkey (CBT) has cut its overnight lending rate by 50bps to 10%. The market
appears to have ...