Baers to Give Up Control of Bank
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Private bank Julius Baer Holding AG said Monday that its founding family would give up control of the company as it introduces new voting rights on a "one share, one vote" principle.
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Eight months of simmering tension at investment bank Lazard erupted this week as its patrician chairman told the Wall Street legend he hired to run the bank to take it public by next June or quit.
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BRUCE Wasserstein, the chief executive of Lazard, will be expected to leave if he fails to get a near-$3bn (Â£1.64bn) float of the investment bank away by next June.
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Landry's founder wants to take his company private.
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ULSTER BANK CLOSES Ulster Bank is to close its Isle of Man operation a ' a move which will affect 11 of its staff.
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Mellon Financial Corp.'s $16.5 billion sale to Bank of New York Co. will put three Boston executives in control of major units of the newly merged company.
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Bank plunges as rumours sweep through market that it could be taken over at knockdown price.
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Germany's biggest banks is to cut 1,920 positions over the next two years as part of an ongoing reorganisation.
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The move puts more pressure on the company to close its subprime mortgage unit and shed other divisions not tied to the core tax business.
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Bank president told Treasury Secretary John W. Snow that he will step down after a decade at the helm when his term expires in June.
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Resignation points to potential problem for Dutch lender in keeping staff as takeover battle plays out.
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Federal Reserve Governor Susan Bies, a banking expert and monetary-policy centrist, will step down on March 30, the central bank said on Friday, marking the third top Fed official to announce a departure this year.
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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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Swiss-based engineering giant ABB   is ready to sell off several divisions, including its  U.S. subsidiary Lummus and its German building technology  operation, the company&#039;s finance chief said at the weekend.
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The Netherlands&#39; biggest bank ABN AMRO says it is cutting more than 4,000 back office and information technology staff as it aims to bring its cost base in line with its competitors.
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James Cayne, the chief executive of Bear Stearns, is reported to be planning to step down soon.
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Conrad Black will resign from Hollinger Inc., the Canadian company that controls the publisher of the Chicago Sun-Times, to clear the way for the board to consider a bid to take the company private, his lawyer said.