Credit Suisse to Exit Commodities Trading After Biggest Loss Since 2008
Credit Suisse Group AG said it will abandon commodities trading as a $2.6 billion fine to settle a U.S. tax investigation pushed the Swiss bank to its biggest quarterly loss since 2008. Zurich-based Credit Suisse posted higher-than-forecast earnings at the investment bank and lower profit in wealth management even as it attracted more net new money from rich clients than analysts had estimated ...
Head of Barclays' wealth business Horrell quits
LONDON (Reuters) - The head of Barclays' wealth and investment management business, Peter Horrell, is leaving the bank later this year as part of an overhaul of the British bank's wealth operation.