Banks, Executives | featured news

The new head of UBS's investment bank Andrea Orcel received a $26m (£17m; 20m euros) "golden hello" in 2012, the bank's annual report has revealed. Mr Orcel is in the process of overhauling the investment business, with 2,000 job losses expected.

Vikram Pandit abruptly stepped down as CEO of Citigroup on Tuesday, shocking Wall Street, after steering the bank through the 2008 financial crisis and the choppy years that followed.

The Lehman executives and directors are accused a shareholder lawsuit of misleading investors about the investment bank's health in the months leading up to its collapse.

Fannie Mae has appointed Capital One's Susan R. McFarland to serve as chief financial officer. She is the third person to hold the position since Fannie entered conservatorship.

The FDIC is close to settling a lawsuit that accused former Washington Mutual executives of taking gambles that sparked the thrift's 2008 collapse.

Failings by Lehman executives and its auditor led to the collapse of the bank which unleashed the worst of the financial crisis, according to a report by a U.S. bankruptcy court-appointed examiner.

President, who lashed out at executives who "still don't get it," presses for more lending. President Obama reiterated his call Monday for the nation's banks to increase lending, saying that he was getting too many letters from small businesses unable to borrow money.

Five senior executives at American International Group told the insurer last week they may quit if their compensation was cut significantly by the U.S. pay czar, the Wall Street Journal reported on Sunday.

How far to go in limiting bankers' bonuses looms as one of the toughest issues at this week's summit of world leaders in Pittsburgh, with clear differences between the U.S. and Europe.

Goldman Sachs Group Inc executives sold almost $700 million worth of stock since the collapse of rival Lehman Brothers last year, the Financial Times said on Monday.