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(Updates to add details of October restructuring in the rates business and good performance of securitised products.)
Robert W Baird posted record revenues of US$1.07bn last year, with a surge in income from private wealth management and asset management helping to offset a more mixed performance across the firm’s equity and debt capital markets platforms.
The UK’s Financial Conduct Authority is stepping up oversight of the wholesale banking industry over the next 12 months, as it seeks to root out further wrongdoing following recent scandals in the industry such as the manipulation of the Libor benchmark rate.
- Marks departs as BNP Paribas unveils plans
- European rescue funds get zero weighting
- Nomura replaces wholesale chief again
- Eurozone banks’ sovereign exposure hits new high
- EBA outlines rules for CoCo bonuses
- BNP Paribas cuts deeper after poor 2013
- Commerzbank eyes trickle-down growth