Wall Street reporter for Bloomberg News, covering Citigroup and Wells Fargo. Tips welcome at dcampbell27[at]bloomberg[dot]net

U.S. Banks Decline on Greek Talks Failure, Capital Controls

bloomberg.com — Shares of the biggest U.S. banks fell, led by a 2.7 percent decline in Morgan Stanley, after talks to provide Greece with additional bailout aid failed and the Greek government imposed capital controls. The Standard & Poor's 500 Financials Index slid as much as 1.9 percent, the biggest decline in more than three months.

Citigroup Overtakes JPMorgan as Top U.S. Derivatives Dealer

bloomberg.com — Citigroup Inc. overtook JPMorgan Chase & Co. to become the largest derivatives dealer in the U.S. The firm's derivative contracts as measured on a notional basis were $56.6 trillion at the end of first quarter, according to data compiled by the Office of the Comptroller of the Currency and released Monday.

Goldman’s Co-Head of Global Commodities Sales to Leave Bank

bloomberg.com — Goldman Sachs Group Inc. said Martin Wiwen-Nilsson, co-head of global commodities sales and a partner since 2008, is leaving the firm and that Colleen Foster will become sole leader of the unit.

Bafin Libor Report Says Jain May Have Misled Central Bank: FT

bloomberg.com — German financial regulator Bafin, which last month completed its review of Libor rigging, found Deutsche Bank AG senior managers acted "negligently" and that co-Chief Executive Officer Anshu Jain may have misled the nation's central bank, the Financial Times reported Friday.

Citigroup Says Larsen to Add Oversight of U.S. Consumer Banking

bloomberg.com — Citigroup Inc. said Jonathan Larsen will add oversight of U.S. consumer banking and mortgages to his role as global head of retail banking, the first major management changes announced under new consumer chief Stephen Bird. Larsen, global head of retail banking since 2012, worked closely with the former head of U.S.

Citigroup Said to Ignore E-Mails on Lax Controls at Banamex Unit

bloomberg.com — A U.S. Justice Department criminal investigation into money-laundering controls at Citigroup Inc.'s Banamex USA unit has uncovered potential violations serious enough to merit a fine under the Bank Secrecy Act, according to people familiar with the probe.

Pandit-Backed CommonBond to Sell Student Loans to Wall Street

bloomberg.com — CommonBond Inc., the student-loan startup backed by Vikram Pandit, is joining the push to bundle loans created online into bonds, selling $96 million of notes. The sale will be marketed as soon as this week as CommonBond follows marketplace lenders OnDeck Capital Inc. and Social Finance Inc.

Citigroup Paid 2,500 Times More for FX Rigging Than What It Made

bloomberg.com — Jamie Forese, head of the Citigroup Inc. unit that houses trading and investment banking, said fines the firm paid for rigging foreign-exchange markets dwarfed the amount generated by the illegal conduct. Revenue from the trades amounted to about $1 million, while Citigroup paid out $2.5 billion in fines and penalties, Forese estimated Wednesday at an investor conference in New York.

Citigroup’s Forese Says Fixed-Income Trading Shows Small Decline

bloomberg.com — Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Blackstone’s Gray Brought Wells Fargo Into GE Real Estate Deal

bloomberg.com — Blackstone Group LP's Jonathan Gray brought Wells Fargo & Co. into the $23 billion deal to purchase General Electric Co.'s commercial real estate loan portfolio, according to Timothy Sloan, the bank's head of wholesale banking.
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Jul 06, 2015

Can America’s Big Banks Get Less Complex? Perhaps, but doesn't look like they're trying...bloom.bg/1IE2U56 via @business

Jul 06, 2015

“It is quite doubtful..that Greece will be able to restore its status as a full member of the euro zone" -- @elerianm bloombergview.com/articles/2015-…

Jul 06, 2015

@samadvisorsllc someone just said he realizes his approach got them this far, but that they now need a deal. and he's not the guy to get it

Jul 06, 2015

Can anyone explain to me why Greece's finance minister quit despite the vote of support for his policies?

Jul 06, 2015

RT @petereavis: Krugman: Many in the business press basically flacked for the Troika against Greece. nytimes.com/2015/07/06/opi…



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