Hedge Fund Two Sigma Is Hit by Trading Scandal

The firm has told clients that a researcher adjusted the hedge fund's investing models without authorization, resulting in $620 million in unexpected gains and losses. 


 
Morgan Stanley's James Gorman Picked a Good Time to Leave

The CEO built the right bank for the years of low rates. How will his successor cope with the potential end of that era? 


 
Blue Owl to Expand Life-Sciences Business with Cowen Investments Acquisition

Blue Owl Capital will bring on the life-sciences investment team from Cowen Investment Management, in a deal intended to expand the firm's presence in a hot sector for alternative-investment managers. 


 
Philadelphia Lender Agrees to Rescue Deal After Stock Plummets

A group of existing investors will provide $35 million to shore up Republic First Bancorp, in a sign of continued stress in regional banking. 


 
JPMorgan CEO Jamie Dimon to Sell One Million Shares

JPMorgan Chase Chairman Jamie Dimon intends to sell one million of his 8.6 million shares starting next year for financial diversification and tax-planning purposes. 


 
Morgan Stanley Awards Next CEO, Other Candidates Awards Valued at $20 Million

Each award consists of 60% performance stock units, while the rest are restricted-stock units that vest and convert into shares in 2027, the bank said. 


 
Korn Ferry to Eliminate 8% of Workforce

Korn Ferry said its reduction is expected to be substantially completed by the end of the third quarter of fiscal 2024. 


 
Sam Bankman-Fried Tells Jurors He Didn't Commit Fraud

At his fraud trial, the FTX founder said that mistakes doomed well-intentioned efforts to improve the crypto marketplace. 


 
ICBC Posted Flat Net Profit in Third Quarter as Credit Costs Dropped

Industrial & Commercial Bank of China posted flat net profit in the third quarter, as lower credit costs helped offset weaker earnings from lending and other regular operations. 


 
Canada Mortgage and Housing Corp. CEO to Depart, Join IMF

Romy Bowers, the chief executive of state-owned Canada Mortgage and Housing Corp. is leaving the mortgage insurer to join the International Monetary Fund's risk-management office.


(END) Dow Jones Newswires

10-30-23 0015ET