Thursday's headlines: Will CEIB be the next Harvard?
China Europe International Business School's new dean aims to make the school a top 10 research institute. John Quelch, who was former deal of the London Business School, and a senior associate dean of Harvard Business School, aims to build the brand, turn a profit on the school's publishing division, and is current recurring 30 full-time faculty to the current 65 professors, according to Fortune.
"There is a large number of faculty who really want to be associated with institutions that have momentum," says Quelch. "I believe that once the word gets out on what we are doing in CEIBS, there will be a surge of faculty and student interest."
Headcount has "generally peaked" at Bank of America, Chief Executive Brian Moynihan said during a 90-minute conference call and there was no mention of pink slips despite rumors to the contrary. [Wall Street Journal's Deal Journal]
The markets continue their decline on worries that Europe's debt crisis could engulf French banks and spill onto the U.S. financial sector. [Reuters]
Hedge funds are getting a taste of the markets, as some watch their returns sink by double digits. [NY Times]
Central bankers are racing to shield their economies from fiscal tightening and lopsided currency swings that threaten a new global recession. [Bloomberg]
Hong Kong Exchanges & Clearing, the world's biggest bourse operator, suspended trading for companies including HSBC after its website was hacked. [Bloomberg]
The SEC sued broker Stifel, Nicolaus & Co. on charges it misled five Wisconsin school districts about the risks that wiped out $200 million. [BusinessWeek]
JPMorgan Chase's Dimon called Meredith Whitney's description of U.S. lenders as "zombie banks," as "hogwash." [Bloomberg]
The job cuts announced at BNY Mellon could hit the bank's Pershing division, the largest clearing and custodial firm for independent broker dealers and investment advisers. [Investment News]