WestLB AG is a commercial bank domiciled in North Rhine-Westphalia, Germany's most densely populated federal state and it is one of Germany´s leading providers of financial services.

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Bloomberg reports that Minneapolis-based investment bank Piper Jaffray is to cut around 40 of the 70 staff it currently employs in London, as its business model 'was impacted by the lack of capital raisings by...small and mid-cap clients'.

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Is The Jig Up For Guy Hands ?

The Independent reports that it is only just over a year ago that Guy Hands went solo. Since then he has suffered a number of setbacks and has been eclipsed in the City by 'rival financier' Robin Saunders from WestLB. Is his star on the wane ?

Deutsche, Morgan Stanley, WestLB, UBS

Deutsche Bank and UBS have been served with $2.7bn in damage claims in connection with the collapse of Italian dairy company Parmalat. Italian authorities have alleged that the banks provided false information about the company's financial position before it was forced into bankruptcy in late 2003. Both banks say that the allegations are false.

WestLB Settles Sexual And Racial Harassment Claim

48 year-old Angie Roberts claimed that a WestLB managing director made unwelcome advances towards her, which she rejected. According to the Daily Mail, a senior bank official is alleged to have showered Mrs Roberts, a former WestLB settlements officer, with compliments and 'pestered' her to ride with him in his car. During a car journey, the bank boss was said to have become 'amorous' and 'fondled her thigh whenever the car slowed'. Mrs Roberts says she eventually got out of the car after being asked to be dropped home. She then claims that the next Monday she was called into her boss's office and offered £10,000 to leave the bank.

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