Barry Zubrow, JPMorgan’s head of regulatory affairs, will step down from the position by the end of the year, The Wall Street Journal says, as Jamie Dimon continues to shake up his inner circle. Four former members of the firm’s operating committee have left the bank or accepted lesser jobs in the last year, Read More
Royal Bank of Scotland managers and traders routinely sought to influence interbank lending rates between 2007 and 2010, and the wrongdoings extend beyond the four traders fired last year, according to Bloomberg. Manipulating the bank’s submissions for Libor and other interbank lending rates would have allowed traders to boost the value of derivatives positions held by RBS, which is 81 percent owned by the British government.
Goodbye Smith Barney: Morgan Stanley is rolling out a name-change for the 75-year-old brand, according to The New York Post. The brokerage, jointly-owned with Citigroup, will be called Morgan Stanley Wealth Management. In its heyday, Smith Barney was known for its advertising slogan: “They make money the old fashioned way: They earn it.” Read More
