Investment banking

William Tirrell, the former head of regulatory reporting at the bank's Merrill Lynch unit, negligently caused the firm to violate securities rules but will pay no penalty, the SEC says.

Bank of America plans to provide a premium package that includes speaking directly to analysts, attending conferences and meeting senior executives of major companies and policymakers.

New York-based Cain Brothers advises both for-profit and not-for-profit health care organizations on mergers and acquisitions and financing strategies.

New technologies are poised to sweep through investment banks, relieving many rank-and-file employees of roughly a third of their current workload, according to McKinsey & Co.

The Japanese firm is expanding its U.S. investment banking unit to look more like its bigger Wall Street rivals.

CIT will provide revolving and term loan commitments of up to $100 million through a partnership with the Northbrook, Ill., insurance company.

Wells Fargo, which is expanding its investment banking unit, has hired Mike Mayo to oversee U.S. large-cap bank research.

Stuart Scott was apprehended at the request of the American government as part of a probe into foreign-exchange-trading practices.

Citigroup joined B of A and JPMorgan in predicting double-digit declines for second-quarter trading revenue. The situation adds to the many revenue challenges facing banks.

Citigroup has agreed to sell its fixed-income analytics and index business, which includes the nearly 30-year-old Yield Book platform, for $685 million.