UBS AG has hired Jeffrey Mayer, a former Bear Stearns Cos. executive, as joint global head of its fixed-income, currencies, and commodities business.
Mr. Mayer will be based in New York and Stamford, Conn., UBS said last week.
He will work with joint business chief Carsten Kengeter, whom UBS announced that it hired this month in London from Goldman Sachs Group Inc.
Mr. Mayer, 49, worked for Bear Stearns for 19 years, most recently as the global co-head of fixed income.
The government's real-time rail, which had a banner year in 2025, has proposed a way for its members to access settlements for payments that include a party that's outside of the U.S. Payment experts say it removes some of the mud from cross-border real-time payments, but lingering hurdles remain.
Some litigants are "knuckleheads" but others are real threats, and well-pleaded cases can easily cost companies millions of dollars, TCPA attorney Eric Troutman said.
The former Fed governor's upcoming confirmation hearing will test whether he can satisfy both a president demanding lower rates and a Congress demanding independence.
The Treasury Department terminated the lease for the Consumer Financial Protection Bureau's Washington, D.C., headquarters; HSBC's Gerry Keefe, head of banking in Europe and the Americas, quit to take a role outside of the financial services industry; Deutsche Bank has reported potential sanctions breaches involving Russian clients to German financial regulator Bundesbank; and more in this week's banking news roundup.
Federal Reserve Gov. Christopher Waller said Friday that the length of time the Strait of Hormuz remains blocked will be a key factor in the longer-term inflation outlook — and, by extension, the Federal Reserve's monetary policy path.
Nationwide, Americans are falling behind on their car loans. But among Ally Financial's customers, delinquencies fell during the first quarter.
