JAKARTA Goldman Sachs has rejected allegations by an Indonesian businessman who is seeking $1.1 billion in damages from the U.S. bank for making what he called "unlawful" trades in the shares of a property firm.
HONG KONG Citigroup said a focus on rich young Asians and new products has helped accelerate net new money growth at its Asia-Pacific consumer wealth business in 2016 to about 10 percent, and a similar annual growth is expected over the next few years.
BOSTON U.S. President Donald Trump's policies could lead to more violent stock market movements, something prominent hedge fund manager Lee Ainslie said could help his portfolio rebound after a lousy 2016.
NEW YORK Merger activity among independent wealth management firms in the United States hit an all-time high in 2016 as more of the industry's aging workforce retired, the economy strengthened and more advisers were able to obtain financing for acquisitions, according to new study.
JAKARTA Indonesia's reform-minded finance minister seemed to invoke memories of the 1997-98 Asian financial crisis this week when explaining why she came down so hard on JPMorgan Chase & Co for downgrading the country's equity market.
LONDON Barclays vice chairman of banking, Matthew Ponsonby will retire from the British bank at the end of January, according to a memo seen by Reuters on Friday.
NEW YORK/LONDON Former British finance minister George Osborne, who lost his job after Britain's vote to leave the European Union, will join BlackRock Inc as an adviser next month, the world's largest asset manager said on Friday.
SOMERSET, N.J. Philadelphia Federal Reserve President Patrick Harker said on Friday he expects three interest rate increases in 2017 if the labor market improves further and inflation moves to the Federal Reserve's 2 percent goal.
Cerno Capital appointed Tom Milnes as business development director to assist with the investment manager's intermediary client relationships and enhance compliance with investment needs.
Mizuho Securities Asia Ltd, a unit of Mizuho Securities Co. Ltd, said it named Pramod Shenoi as regional head of FIG debt capital markets in December 2016.
WASHINGTON Donald Trump took power as the 45th president of the United States on Friday and pledged to end what he called an "American carnage" of rusted factories and crime in an inaugural address that was a populist and nationalist rallying cry. | Video