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Several U.S. banking giants and mortgage lenders are reportedly scrambling to assess how much of their customers’ data was stolen during a cyberattack on a New York financial technology company earlier this month. SitusAMC, which provides technology for over a thousand commercial and real estate financiers, confirmed in a statement over the weekend that it…
Large U.S. banks reported massive earnings Friday, signaling that the biggest institutions largely shrugged off the banking crisis stemming from Silicon Valley Bank’s collapse. JPMorgan Chase, the largest bank in the nation, posted $12.6 billion in first-quarter profits, a whopping 52 percent increase from the same period last year. Wells Fargo’s quarterly profits rose 32…
“Goldman Sachs set to slash bonuses for investment bankers by 40%” Goldman Sachs may slash the bonuses of its roughly 3,000 investment bankers by 40% as the Wall Street giant grapples with an economic downturn that has affected the entire financial sector, according to a published report. The massive chop would be considerably higher than…
“Goldman Sachs to give senior bankers unlimited vacation: report” Senior bankers at Goldman Sachs will now have the option to take unlimited vacation days, but time off for junior staffers who have complained of brutal work weeks will remain limited, according to a report. As part of the new policy, all Goldman employees will be…
“Citi to overhaul London team linked to ‘flash crash’: report” Jane Fraser’s Citigroup is overhauling the leadership of one of the teams linked to a “flash crash” that sent European stock markets tumbling this month, three sources told Reuters. Citi is looking to name a new Head of Forward Trading in its Delta One operations based at…
“Euro stock ‘flash crash’ triggered by Citigroup trader’s error” A brief-but-steep drop in European stocks on Monday was triggered by a Citigroup trader’s input error, the banking giant said. The so-called Flash Crash, which tanked the Stockholm benchmark index OMX 30 more than 8% in the span of a few minutes, temporarily halted trading Monday around…
“SEC’s Gary Gensler ‘passes’ the buck” It’s bad enough that our political class never lets a good crisis go to waste in pursuing harebrained policies that sound good on paper but usually fail in practice (ObamaCare). It’s another thing to make the crisis — in this case soaring energy prices and rampant inflation — worse….
“Citigroup to cover expenses for staff out-of-state abortions” Citigroup has started covering travel expenses for employees who go out of state for abortions because of newly enacted restrictions in Texas and other places, becoming the first major US bank to make that commitment. The new policy is “in response to changes in reproductive healthcare laws…
“Citi wants to lure junior bankers to a Spanish beachside paradise” Citigroup is setting up shop in the idyllic town of Malaga, Spain in hopes of luring thirtysomething junior bankers who want warm weather most of the year, a relatively low cost of living — and the beautiful Mediterranean coastline. The Wall Street bank is…
“#Citi warns US employees they’ll be fired if they don’t get COVID vaccine” Citigroup has informed employees they will be fired if they do not comply with a companywide vaccine requirement by Jan. 14, The Post has learned, with the bank establishing the most stringent vaccination policy to date for a major financial company. The…