Banking and Finance News
Sullivan & Cromwell client BNP Paribas (BNPP) has been sentenced to five years’ probation by a US district court on Friday (1 May) in connection with its $8.9bn (£5.88bn) payout ordered last July.
Ropes & Gray has hired a structured finance specialist from rival US firm Chadbourne & Parke.
Barclays set aside an additional £800m in the first quarter of 2015 to cover investigations and litigation related to foreign exchange rigging, its Q1 results reveal.
Lloyds Bank has closed its litigation teams in Hove and Cockfosters in a continuation of the redundancies to hit its in-house legal team.
Cleary Gottlieb Steen & Hamilton and Slaughter and May have taken the lead roles on Santander Asset Management’s multi-billion euro merger with Pioneer Investments.
Norton Rose Fulbright has made up a record 51 partners in its latest promotions round, the second since its merger in 2013.
Lloyds Banking Group has appointed Kate Cheetham as its new general counsel.
Herbert Smith Freehills (HSF) has hired its first female partner in Germany, K&L Gates banking and finance partner Julia Müller.
Irish firm Byrne Wallace has appointed Central Bank of Ireland general counsel Joseph Gavin as head of its financial services practice.
Banking and Finance Briefings
Funds: Luxembourg and the Chinese connection download subscription
Luxembourg opens the door to China with approval of R-QFII UCITS funds.
Twitter’s $8bn value crash shows there’s little room for issuer error download subscription
NASDAQ is responsible for running Twitter’s investor relations site, where earnings information was published early.
Relieve the burden on bailiffs; the first in a series of changes The Sheriffs Office would like to see in the regulatory review.
Banking and Finance Analysis
Tax evasion allegations and the uncapping of the Swiss franc have kept the country in the headlines recently, but it’s all good for lawyers.
The pressure on in-house lawyers in the financial services sector is growing as banks face up to new challenges such as greater regulatory scrutiny.
Banking and Finance Opinion
The revelation by Tesco that it had overstated its trading profits by £250m wiped £2bn off its market value in one day.