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JPMorgan faces whale lawsuit

Beached Whale

JPMorgan must face a lawsuit from shareholders accusing it of securities fraud by misleading them about its ability to manage risk, which surfaced when it lost $6.2bn in the 'London Whale' scandal.

Ex-JPMorgan exec to receive bumper pay package

Pot Of Gold

Michael Cavanagh, the longtime JPMorgan Chase executive who is preparing to join the Carlyle Group, will make $7m in salary and bonus in each of his first three years at the private equity giant, a regulatory filing on Friday showed.

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Citi Building Sign

People News - Citi, JPMorgan, UBS

Citigroup has named Richard Bibbey to run its global spot foreign-exchange business as the bank seeks to more closely align its voice and electronic trading of currencies.

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