April 2 (Reuters) – UBS AG named several
executives to senior positions in the United States and Europe,
in the latest move by the Swiss bank to rebuild its business
after a massive trading scandal and departures by scores of
bankers in recent years.

UBS said on Monday it had formed two new executive
committees, one each in the United States and Europe. The bank
said it had tasked the members with meeting performance targets
across its wealth-management, investment banking and asset
management divisions.

By Lauren Tara LaCapra and Carrick Mollenkamp

(Reuters) – Four giant card-payment processors and large U.S. banks that issue debit and credit cards were hit by a data-security breach after third-party services provider Global Payments Inc discovered its systems were compromised by unauthorized access.

It was not immediately clear how many cardholders became victims of the breach, which affected MasterCard Inc, Visa Inc, American Express Co and Discover Financial Services, as well as banks and other franchises that issue cards bearing their logos.

NEW YORK (Reuters) – The largest U.S. banks including Morgan Stanley, Bank of America and Citigroup are facing what could be a historic shift to lower credit ratings which could increase their cost of funding and reduce competitiveness in their capital markets businesses.

Moody’s Investors Service is reviewing 15 of the world’s largest banks for possible credit ratings downgrades in mid-May, and broad cuts could send banks on average to their lowest historical levels.

By Lauren Tara LaCapra

(Reuters) – MasterCard Inc and Visa Inc have notified U.S. banks of a potential security breach, the latest in a string of incidents that have put the personal information of millions of credit card holders at risk.

The companies, which are the two largest global credit card processors, said the issue stemmed from a third-party vendor and not their own internal systems.

BOSTON/NEW YORK (Reuters) – Goldman Sachs’ (GS.N: Quote, Profile, Research, Stock Buzz) leadership restructuring deal with a powerful union allows Lloyd Blankfein to keep both his titles of chairman and chief executive officer and present a strong public face at a time when such dual roles are falling out of favor.

But the deal also quietly opens the door for stronger corporate governance oversight within the giant firm, which faces long-running pressure to reform a corporate culture that has come to define Wall Street’s resistance to change.

NEW YORK (Reuters) – Senior executives within Goldman Sachs (GS.N: Quote, Profile, Research) have talked about splitting the roles of chief executive officer and chairman, two sources said, although pressure for any imminent move appears to have eased after a deal with a labour union pension fund.

Proposals to separate the CEO and chairman roles have long been sought by outside groups, but two people familiar with management thinking provided the first indication that internal discussions about such a move have taken place.

NEW YORK (Reuters) – Senior executives within Goldman Sachs (GS.N: Quote, Profile, Research, Stock Buzz) have talked about splitting the roles of chief executive officer and chairman, two sources said, although pressure for any imminent move appears to have eased after a deal with a labor union pension fund.

Proposals to separate the CEO and chairman roles have long been sought by outside groups, but two people familiar with management thinking provided the first indication that internal discussions about such a move have taken place.

By Lauren Tara LaCapra

(Reuters) – Goldman Sachs Group Inc’s (GS.N: Quote, Profile, Research, Stock Buzz) first-quarter earnings are expected to benefit from the increased use of derivatives by European clients seeking ways to hedge risk, according to an internal report seen by Reuters.

Revenue at Goldman’s investment bank in Europe increased by 8 percent from the year-ago period to $476 million, the report said.

March 27 (Reuters) – Goldman Sachs Group Inc’s (GS.N: Quote, Profile, Research)
first-quarter earnings are expected to benefit from the
increased use of derivatives by European clients seeking ways
to hedge risk, according to an internal report viewed by
Reuters.

Revenue at Goldman’s investment bank in Europe increased by
8 percent from the year-ago period to $476 million, the report
said.

March 23 (Reuters) – Morgan Stanley is interested in
buying all of Citigroup Inc’s stake in their wealth
management joint venture this year in what could be a roughly
$10 billion deal, said people familiar with Morgan Stanley
management’s thinking.

Under the terms of the Morgan Stanley Smith Barney joint
venture, Morgan Stanley will get an option starting May 31 to
buy 14 percent more of the business from Citigroup, adding to
the 51 percent stake it already has. It has options to buy the
remaining portion in two more chunks through May 2014.