2 Canadian Bank Executives Ousted After Subprime Losses
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The Canadian Imperial Bank of Commerce fired two executives at its CIBC World Markets unit as it grapples with a $9.8 billion exposure to subprime debt.
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The deterioration in the U.S. mortgage market forced the departures of two top executives at HSBC Holdings.
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Shares of subprime lender tumble after margin calls.
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Washington (Dec. 23, 2004) - Two top executives and auditor KPMG are out this week at Fannie Mae, following the Securities and Exchange Commission&#39;s decision that the mortgage giant violated accounting rules, leaving it faced with a massive restatement.
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U.S. mortgage finance giant Fannie Mae  confirmed late on Tuesday that embattled Chief Executive Franklin Raines and Chief Financial Officer Timothy Howard were stepping down after accounting errors that are expected to force a massive earnings restatement.
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Bear Stearns CEO James Cayne resigns amid the US investment bank's losses in the sub-prime mortgage crisis.
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Commerce Bancorp Inc. , under fire for its business dealings with insiders, on Friday announced the sudden departure of Chairman and Chief Executive Vernon Hill, and said it has settled two federal regulatory probes involving him.
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Commerce Bancorp Inc. , under  fire for its business dealings with insiders, on on Friday said  that Chairman and Chief Executive Officer Vernon Hill is  leaving the company, and that it has settled two federal  regulatory probes.
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SunTrust Banks Inc. STI.N, the No. 7  U.S. bank, on Wednesday said it fired three finance executives,  including its chief credit officer, after finding "numerous  errors" in how much to set aside for bad loans.
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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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NEW YORK: Three senior Citigroup executives are leaving the company, after being found partially responsible for last monthâs forced closure of Citigroupâs private bank in Japan, a person familiar with the matter said.
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Two top executives at building products group James Hardie Industries NV have resigned in the wake of a scandal about the company&#39;s treatment of thousands of people poisoned by asbestos that it made.
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Commerce Bancorp Inc. &lt;CBH.N&gt;, under fire for its business dealings with insiders, on Friday announced the sudden departure of Chairman and Chief Executive Vernon Hill, and said it has settled two federal regulatory probes involving him.
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MBIA Inc  ousted Chief Executive Gary Dunton and replaced him with former CEO Joseph "Jay" Brown as the bond insurer scrambles to overcome mortgage-related losses, maintain a top credit rating and restore market confidence.
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Swiss banking giant UBS on Friday announced the surprise resignation of its chief executive Peter Wuffli following a turbulent period for the bank marked by difficulties in the US mortgage market.
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US mortgage finance giant Fannie Mae (FNM.N: Quote, Profile, Research) , which on Tuesday removed removed two top executives over major accounting problems
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Royal Bank of Canada Chief Executive Officer Gordon Nixon replaced three senior bankers and hired the head of the Toronto Stock Exchange, overhauling senior management at Canada&#39;s largest bank after a slump in the US eroded profit.