The Board of Governors of the Federal Reserve granted Section 20 Tier II powers allowing Wachovia to underwrite and deal in all types of corporate debt and equity securities. Interstate/Johnson Lane Corporation, an NYSE member broker-dealer, will be merged with Wachovia Capital Markets Inc. and renamed Wachovia Securities Inc., which will include two primary divisions. The retail brokerage division will be known as IJL Wachovia, and the institutional business division will operate as Wachovia Capital Markets.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.