Investment Banking MC

Investment Banking MC

Goldman to pay NAB $80m over toxic CDO sale

Posted by Anton Murray Consulting on . Posted in Investment Banking MC

Jonathan ShapiroGoldman Sachs has been ordered to pay National Australia Bank $80 million after it incurred losses from investing in a toxic Collateralised Debt Obligation that the US investment bank had sold them, but secretly bet against.

The dispute resolution conducted by the US Financial Industry Regulatory Authority brings an end to a long running claim lodged by NAB against Goldman with the regulator finding evidence of “knowing and material omissions and misstatements in the marketing material” that “masked significant conflicts of interest” between Goldman and NAB.

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UBS ‘Chinese Walls’ claim ‘begs credulity’, inquiry members say amid ASIC scrutiny

Posted by Anton Murray Consulting on . Posted in Investment Banking MC

Will Glasgow

Members of the inquiry that scrutinised UBS executives over an altered research note are not convinced by the account offered by the bank’s boss Matthew Grounds and his staff.

“I don’t still feel an adequate explanation has been [given],” said Labor’s Adam Searle.

“It begs credulity,” said Shooter and Fisher Robert Borsak.

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Bitcoin exchange receives first license in New York

Posted by Anton Murray Consulting on . Posted in Investment Banking MC

Nathaniel Popper
New York state’s top financial regulator has granted the first license to a Bitcoin exchange, allowing it to open legally to customers across the United States.The exchange, itBit, said Thursday that it was beginning to take on US customers immediately after receiving a banking trust charter from New York state’s Department of Financial Services and its superintendent, Benjamin Lawsky, who has been trying for some time to bring new rules to the fledgling virtual currency industry.

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Citi names new managing director for Sydney

Posted by Anton Murray Consulting on . Posted in Investment Banking MC

Citi has appointed Ian Maxton as managing director and vice-chairman for investment banking in Sydney, effective June 1.

Maxton joins from Nomura, where he was most recently senior adviser and previously managing director of investment banking. He will support Citi’s relationship efforts across the entire banking platform and provide senior coverage support to the financial institutions team, led by Scott McMullen.

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RBS: one in three top management roles to be filled by women by 2020

Posted by Anton Murray Consulting on . Posted in Investment Banking MC

Jill Treanor

Royal Bank of Scotland has set a target for one third of its top 600 management roles to be held by women by 2020.

The lender, which is 79% owned by the taxpayer, will apply the target throughout the business from its high street arm to its investment bank and has written the goals into the objectives of senior executives, including Ross McEwan, CEO.

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