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- SEC Charges Additional Defendant in Fraudulent ICO Scheme
- Warren Buffett Simply Blew it on Wells Fargo Stock: Dick Bove (Video)
- Barclays and Deutsche Bank to Lag U.S. Trading Peers
- NY AG Schneiderman Seeks to Close Loophole That Could Let Trump Pardons Block State Charges
- 'Fearless Girl' is Moving to NYSE After Year Staring Down 'Charging Bull'
- What's In Your Wallet - American Express Shares Soar After Earnings Release
- Deutsche Bank's Executive Departures Continue Following Change in CEO
- Reflections of an Economist Commissioner (SEC's Piwowar)
- Billionaire HF Manager and The Fed Chair Runner-Up are Investing in New Cryptocurrency
- Court Finds 2 Brokers Liable for Fraud Involving Mortgage-Backed Securities
- One FINRA: An Organization’s Commitment to Diversity and Inclusion
- 2018 GASB Accounting Support Fee to Fund the Governmental Accounting Standards Board
- Barclays Eyes Move Into Cryptocurrency Trading
- Goldman Breaks From Wall Street Pack with Bond-Trading Boom
- Janney Montgomery Scott CEO Joins FINRA Board of Governors
- SEC Encourages Investors to Do Background Checks on Investor.gov
- The Martin Act: Wall Street Titan Takes Aim at Law That Tripped Him Up
- Bank of America’s Cost-Cutting Drive Pushes Profit to Record
- Larry Fink: Wall Street’s $6 Trillion Man Finally Worth $1Bn
- Activist Investor Wants Barclays Investment Banking Overhaul (Video)
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NEWSLETTERS & ALERTS
CEO Hancock Resigns After Paring AIG Headcount by 10,000
[Photo: by Gloria Baker, AIG
American International Group has begun the search for a new chief executive after Peter Hancock announced he will resign. He will remain until a successor is named. Mr. Hancock, who’s been in the job just over 2 years, had spearheaded a restructuring of the giant insurer, which included reducing the firm’s number of employees by 10,000 in just one year. [See Financialish Article posted 2/27/17]. Unfortunately, AIG’s problems have persisted as the insurer’s net loss widened to $3 billion in the 4th quarter from $1.8 billion one year earlier.
Carl Icahn was pleased to learn of Mr. Hancock’s resignation. Icahn, who’s company Icahn Associates owned about 45 million shares of AIG at the end of the year – making it AIG’s 4th largest shareholder - has been calling for a breakup of the company. For one thing, Icahn had said that a split would help AIG rid itself of the regulatory burden of being a systemically important financial institution.
And we know how Mr. Icahn feels about regulations – particularly those that impact his investments.