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RBS gets favourable decision in U.S. lawsuit

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A U.S. appeals court on Wednesday declined to hold Royal Bank of Scotland liable for allegedly defrauding investors in its American depositary shares by downplaying its subprime asset exposure prior to the global financial crisis.

Nomura says regulator relied on 'voodoo science'

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A lawyer for Nomura Holdings argued on Thursday that a U.S. regulator relied on 'voodoo science' to pursue claims that the bank made false statements in selling $2bn in mortgage-backed securities to Fannie Mae and Freddie Mac.

Mizuho makes 5 new hires

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Mizuho Bank and Mizuho Securities USA, the U.S. corporate and investment banking subsidiaries of the Mizuho Financial Group, have announced the hiring of three senior debt capital markets and two senior corporate finance executives from the Royal Bank of Scotland (RBS).

Mizuho to hire up to 200 RBS staff

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Mizuho Financial Group plans to hire as many as 200 people from Royal Bank of Scotland in the U.S. as part of its deal to buy loans from the lender, a person with knowledge of the matter said.

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For Hire

Mizuho makes 5 new hires

Mizuho Bank and Mizuho Securities USA, the U.S. corporate and investment banking subsidiaries of the Mizuho Financial Group, have announced the hiring of three senior debt capital markets and two senior corporate finance executives from the Royal Bank of Scotland (RBS).

Departure

RBS appoints new Chairman

Philip Hampton will step down as Director and Chairman of RBS with effect from 31 August 2015. Howard Davies will join the Board at the end of June and assume the role of Chairman from 1 September 2015.

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RBS says forex fines could impact on pay

Royal Bank of Scotland said it would take into account the $669m paid in fines to U.S. authorities following misconduct in its foreign exchange business when making future pay decisions for its staff.

Trading Desk

FX Traders on best behaviour

When global bond investors lost more than $400bn in one week this month, Koon Chow, a Union Bancaire Privee currency strategist, asked sales contacts at banks about the impact on foreign-exchange markets. He didn’t get much help.