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- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
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- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
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- SEC's Opening Remarks to the Elder Justice Coordinating Council
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- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
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- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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Bank of America: Sees Prime Brokerage as 'Prime Time'
Bank of America-Merrill Lynch announced the hiring of UBS's Stuart Hendel to lead its prime brokerage business. The firm seeks to expand its services to hedge funds. Thomas Montag, who heads the firm's investment banking and brokerage business, made that statement at an investor day conference.
Echoing the position expressed by BofA-ML CEO Brian Moynihan, Mr. Montag noted: "We have the scale to compete and win with anybody," and added that the firm has investments to make, though it doesn’t necessarily feel the need to buy anything. Mr. Montag also noted that the bank’s prop trading headcount has been reduced 75%. [NYT Dealbook, 3/8]
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