We can talk all we want about policies, process and technology, but in the end, financial services remains a people-based business. Having the right people in key risk management roles will yield the strong institutions of tomorrow.
Lawyers for onetime MF Global Inc. Chief Executive Jon Corzine and his former top lieutenants are appealing a recent bankruptcy-court decision calling for the full repayment to the failed brokerage’s customers, a move that a bankruptcy trustee said could delay his bid to pay back all of the money owed to the firm’s U.S. and overseas commodity customers. Read the story in the Daily Bankruptcy Review.
Lawyers for onetime MF Global Inc. Chief Executive Jon Corzine and his former top lieutenants are appealing a recent bankruptcy-court decision calling for the full repayment to the failed brokerage’s customers, a move that a bankruptcy trustee said could delay his bid to pay back all of the money owed to the firm’s U.S. and overseas commodity customers. Read the story in the Daily Bankruptcy Review.
In the bankruptcy world, matching sellers of distressed assets with potential buyers has always caused difficulties - usually resulting in reduced sale prices and relative bargains. For large capital assets - like the Polaroid patent portfolio, or Chrysler, investment bankers satisfy the market gap.
In the bankruptcy world, matching sellers of distressed assets with potential buyers has always caused difficulties - usually resulting in reduced sale prices and relative bargains. For large capital assets - like the Polaroid patent portfolio, or Chrysler, investment bankers satisfy the market gap.
Receiving Wide Coverage ... Ring Fenced: Credit Suisse has begun to wall off its Swiss banking business from riskier investment banking operations in the U.S. and U.K. in order to address regulators' concerns over "too big to fail." The plan includes combining two London subsidiaries and transferring its U.S. derivatives business to its U.S. subsidiary. (The unit currently operates out of London.) UBS similarly announced plans to ring fence its banking operations last month. Wall Street
