Commerzbank says sacks U.S. business managers
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Commerzbank has sacked the head of its U.S. business, Hans Joachim Doepp, and another top manager responsible for the lending business in the United States, a Commerzbank spokesman said on Wednesday.
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Commerce Bancorp will end contracts with companies owned by executives and their relatives, halting a practice that has drawn the attention of regulators.
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Commerzbank, the second biggest German bank, posted Thursday a record full-year result for 2007, though the group's fourth quarter was hit by a heavy loss related to the US subprime market meltdown.
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BERLIN : The head of Germany's fourth largest bank Commerzbank, Klaus-Peter Mueller, has expressed interest in a merger with postal bank Postbank.
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Deutsche Bank is streamlining the management of its investment banking arm, raising fears that jobs may be lost in the City. The German bank is reducing the number of executives running its investment banking
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UBS, the biggest European casualty of the U.S. subprime crisis, said it was shrinking its investment banking business, cutting staff and drastically scaling down its exposure to risky investments.
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SunTrust Banks Inc., a large U.S. southeast regional bank, on Wednesday said it fired three finance executives, including its chief credit officer, after uncovering problems in how it accounted for bad loans.
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Bank of America Corp. BAC.N, plans  on Wednesday to lay off hundreds of tellers and other employees  at Fleet bank branches, and ask them to leave immediately, the  Boston Globe said on Wednesday, citing documents it obtained  and Fleet branch managers.
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Bank of America officials confirm they laid off an unspecified number of employees at hundreds of Fleet Bank branches, a byproduct of the merger of the two banks.
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WASHINGTON : US banking giant Citigroup Inc has ousted three senior executives after Japanese regulators last month ordered it to shutter its private banking operations in the country for violating banking laws.
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Bank of America Corp. yesterday laid off hundreds of workers at Fleet bank branches across the Northeast as the North Carolina bank began to implement its brand of customer service on the institution it purchased for $48 billion in April. The changes signal a shift toward a heavier reliance on part-time tellers, which would improve customer service during peak hours ...
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FRANKFURT Commerzbank, stung by its foray into the volatile world of proprietary trading, announced Tuesday it would shut down the bulk of its investment banking operations outside Germany.
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Swiss bank UBS has ousted chief executive Peter Wuffli following three quarters of falling profits.
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Bank of America said Thursday it will layoff 4,500 employees as part of the companyâs ongoing integration of FleetBoston Financial.
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HSBC Holdings Plc , Europe's biggest bank, said on Friday that it would close its U.S. subprime mortgage unit, cutting 750 jobs and taking $945 million in charges and write-downs, because the business is no longer sustainable.
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Bank of America Corp  on  Wednesday said it planned to eliminate 3,000 jobs, and shook up  its corporate and investment bank after a dismal quarter at  that unit led to a 32 percent drop in overall profit.
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LONDON (CBS.MW) - Commerzbank AG, Germany&#39;s third largest bank by market value, unveiled plans on Tuesday to cut jobs and scale back its unprofitable investment banking division.