German financial giant tries to move past probes over funds that went south during market turbulence

Allianz set aside more than $4bn for legal expenses stemming from losses its investment funds racked up during the March 2020 market panic when their options trades went bad.

The German financial giant said 17 February it accounted for the €3.7bn in legal provisions, equivalent to $4.2bn, in its 2021 results.

Allianz faces $4bn legal bill over fund losses

Justin Baer

Allianz

London hedge fund Naya Capital secures Dubai regulatory approval 

Fnality CEO Michelle Neal: ‘Banks are open to integrating blockchain-based payments’  

Trump tariffs: Hedge funds short luxury, financial stocks 

Deutsche Bank hires top Barclays banker Swerling as global head of ECM

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The German lender has hired Barclays’ co-head of equity capital markets to lead its team globally

Trading Places: Barclays hires new M&A boss, Julius Baer restructures again

https://images.fnlondon.com/im-329118?size=1.5

Find out who is on the move in the City and beyond this week

HSBC hands Blackburn top risk role as shake-up continues

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The UK lender has given the leading compliance job to a 20-year veteran

Boris Epshteyn, who doesn’t work for the government, has negotiated with a series of law firms to cajole them into entering deals.

Trump’s $1 Billion Law Firm Deals Are the Work of His Personal Lawyer

Banca Monte dei Paschi di Siena launched a surprise $14 billion-takeover offer for its peer in January.

MPS Gets Italy’s Green Light for Mediobanca Deal as Top Shareholders Signal Support

Monte Dei Paschi Gets Italy’s Green Light for Mediobanca Deal as Top Shareholders Signal Support

Even hedge funds weren’t prepared for the gyrations in stocks, Treasurys and currencies.

Wall Street’s ‘Smart Money’ Braced for Tariff Chaos. It Was Still Caught Off Guard.

The Justice Department is backing away from some cases involving foreign bribery, money laundering and crypto markets. Defense lawyers are bracing for a slowdown.

By Dave Michaels, Richard Vanderford and James Fanelli

Trump Administration Retreats From White-Collar Criminal Enforcement

The imposition of new tariffs on nearly every country has added to concerns in Europe and Asia about relying on America.

U.S. Allies Are Sitting Out Trump’s Trade War With China

Augusta National maintains the secrecy it craves, through the help of the city.

Augusta National Is So Private Even the Government Protects Its Secrets

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