LONDON Schroder Salomon Smith Barney, a unit of Citigroup Inc., has named Peter Forlenza head of trading and capital commitment for equities in Europe.
Mr. Forlenza, who heads global program trading for Schroder Salomon in New York, will retain that job and move to London at the end of the month, the company said Wednesday.
It said the position was created because of growth in equities trading. Schroder Salomons trading-desk chiefs will remain in their jobs and report to Mr. Forlenza.
Backed by tech billionaires, the crypto-focused digital startup bank's timely application reflects the current administration's openness to new tech-driven banking models — and raises concerns about regulatory impartiality, considering its backers' political ties.
The application follows on the heels of Circle and Wise, as crypto and payment companies seek crypto custody approval and direct access to the Federal Reserve payment system.
The credit union regulator, responding to a recent executive order, has established strict new standards for prosecuting financial crimes. Regulators are now supposed to make criminal referrals only in cases where putative defendants appear to have known they were breaking the law.
Three bank trade associations recommended phasing out paper checks to reduce government payment fraud in a joint statement submitted to the U.S. Treasury.
Baton Rouge-based Investar Holding Corp. has agreed to pay $84 million for Wichita Falls Bancshares, which operates five branches in the Dallas-Fort Worth Metroplex.
A federal judge in New York has rejected Huawei's effort to toss charges alleging bank fraud, sanctions violations and trade secrets theft.
