Finance News
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The world’s largest banks demanded a wish list of changes to a proposed U.S. ban on proprietary trading, seeking to escalate the lobbying effort against the Volcker rule five months before it takes effect.
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Foreign banks in Japan may resume hiring this year to advise local clients taking advantage of the stronger yen to acquire companies abroad, while cutting jobs for other investment banking services, a recruitment firm said.
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Macquarie Group Ltd., Australia’s biggest investment bank, cut about 10 percent of its investment banking workforce in Asia last week, two people with knowledge of the departures said.
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Goldman Sachs Group Inc. sold its entire 3.9 percent stake in Hana Financial Group Inc. for 372 billion won ($331 million), exiting its seven-year investment in the South Korean bank holding company.
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