Firm Said To Double US Headcount
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According to the newspaper, the Japanese firm is looking to increase its US payroll to around 1,200 by the end of March 2010.
Reuters reports that UBS Investment Bank has hired 18 investment bankers into its energy teams in Houston and New York.
The Wall Street Journal reports that two internal candidates remain in the race to succeed Bank of America CEO Ken Lewis (Chief Risk Officer Greg Curl and consumer and small banking boss Brian Moynihan). The board, however, is also looking at external candidates.
And Dow Jones Newswires reports that Sallie Krawcheck, the head of Bank of America's wealth management businesses, has confirmed that the firm will spend around $20m to relaunch the Merrill Lynch brand in the fourth quarter.
And just one day after HSBC CEO Michael Geoghegan said that he feared a double-dip recession, the bank's Chairman, Stephen Green, told Bloomberg TV that he felt 'the world economy has found a bottom'. Do you think these guys are reading the same research ?
Reuters reports that analysts over at JPMorgan think that European banks will need to raise an additional $78bn in new capital to beef up their balance sheets. And French bank Societe Generale is to raise $7.1bn in a rights issue, the proceeds of which will be used to repay state aid to the French government and acquire a stake in Credit du Nord.
The Financial Times reports that Julius Baer is to acquire ING's Swiss private banking operations in a deal thought to be worth around $500m.
Finally, The New York Times reports that Alfred Kelly, the American Express President, has announced that he is standing down, as he wants to undertake a CEO position at another company. Kelly, 51, has been mentioned as a possible successor to Ken Lewis over at Bank of America.
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