Wednesday's Headlines: Women Face Pay, Culture Challenges
Women continue to lag behind men when it comes to pay in financial services, according to data from the Government Accountability Office. [Bloomberg]
Hot areas on Wall Street include trading securities for clients, processing trades, exchanging currency, managing assets and advising clients on deals and financing as U.S. and European firms shift their business models.
JPMorgan Chase ranked first among investment banks based on fees generated during the first nine months of the year. [Reuters]
Bank of America will discontinue its wholesale mortgage business, focusing on direct lending to its banking customers. [Reuters]
Speculation that a quarter of London's hedge funds have relocated to Switzerland are being rejected, but many still fear the industry is slowly leaving the country. [Finalternatives]