Government directs banks to address pending disciplinary cases
Tuesday, January 28, 2020, 5:32 PM
The government directed all banks to set-up committees of senior officials to monitor the progress of pending disciplinary and internal vigilance cases and set timelines for completion of such cases to prevent damaging morale of staff, according to a release by the finance ministry. The government has also delegated powers to the boards of PSBs to set mechanisms to ensure compliance with fraud-reporting timelines.
Bank of America to hire 50 bankers for Asia dealmaking team in 2020: Sources
Wednesday, January 22, 2020, 9:33 PM
Bank-of-America-Corp will recruit about 50-bankers for its investment team in Asia this year, as it pushes to bulk-up its dealmaking business and shore-up revenues from the unit globally, three-people with direct knowledge of the matter said. BofA's Asia headcount expansion comes against the backdrop of a subdued recruitment outlook for the broader investment banking business as global-lenders grapple with cost-pressures and slowing M&A momentum.