Deutsche Bank is applying artificial intelligence (A.I.) to an upgrade of the proprietary system for trading, Autobahn 2.0, that includes self-learning mechanisms to facilitate more reliable predictions about equities pricing and volume, which should bolster the best execution requirements of the MiFID II reforms. No provider can guarantee best execution compliance as that is the… Read More >>
HSBC Shuffles Executive Lineup for 2018
Stuart Gulliver to Retire February 2018 HSBC Holdings plc reports that John Flint, 49, chief executive of retail banking and wealth management, will succeed Stuart Gulliver as executive director and group chief executive, following Gulliver’s retirement in February 2018. Flint’s remuneration in his new post will consist of a “base salary of £1,200,000 per annum… Read More >>
Four Big Brokers Charged with Market Access Misdeeds
Deutsche Bank Securities Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, and Interactive Brokers LLC have been censured and fined a total of $4.75 million for violations of various provisions of the market access regulations (rule 15c3-5 of the Securities Exchange Act of 1934) and “related exchange supervisory rules,” according to a statement by… Read More >>
Brexit-Born Bank Exodus Begins
Frankfurt and Dublin are emerging as the favorite hotspots for foreign banks as United Kingdom and continental European negotiators hammer out a Brexit deal by March 2019. Although many observers believe that the Brexit process will take longer than the earmarked two-year period, there has been a spate of announcements because banks, fund managers, insurers… Read More >>
Deutsche Bank Bolsters Anti-Financial Crime Staff
Deutsche Bank Names Head & Deputy of Anti-Financial Crime for the Americas Deutsche Bank has appointed Richard Weber as managing director and head of anti-financial crime for the Americas and Irwin Nack as managing director and deputy head of anti-financial crime for the Americas. Weber will report to Philippe Vollot, global head of anti-financial crime… Read More >>
London Could Lose 9,000 Bank Jobs in First Brexit Wave
Although the U.K. hopes to retain as many financial services activities as possible in the wake of Brexit, big banks are making contingency plans and could shift at least 9,000 jobs out of the country, according to a tally collated from Reuters. To date, 13 major banks including Goldman Sachs, UBS, JPMorgan, Deutsche Bank and… Read More >>
Federal Reserve Fines Deutsche Bank $156 Million
The central bank for the U.S., the Federal Reserve System, has hit troubled Deutsche Bank with $156.6 million in civil money penalties and requirements that the bank improve its senior management oversight and controls relating to foreign exchange (FX) trading. “Deutsche Bank lacked adequate governance, risk management, compliance, and audit policies and procedures to ensure… Read More >>
Deutsche Bank’s NYC Lab to Explore AI & Cybersecurity
Deutsche Bank officials have opened an innovation lab in New York City that they say is their fourth globally, and will be focused on several IT areas including artificial intelligence (AI), cloud technology and cybersecurity. The lab is located in Lower Manhattan’s Fulton Center and will enable the bank to “access a leading innovation ecosystem… Read More >>
Deutsche Bank to Raise $8B as It Reorients Itself
Deutsche Bank is having a busy March. The German banking giant is undergoing a major transition as evidenced by the decisions of its management and supervisory boards on Sunday, March 5, to raise $8.5 billion in capital via a rights issue, reorganize key business groups and operations, and shuffle senior management to oversee the revamped… Read More >>
NEX Exchange Names TriOptima COO to Board
NEX Exchange Names TriOptima COO to Board NEX Exchange, the U.K. stock exchange for small and medium companies formerly known as ISDX, reports that it has appointed Mireille Dyrberg to its board as a non-executive director. The exchange, which also had an incarnation as PLUS Markets, is part of the NEX Group, previously known as… Read More >>
