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BofA said to cut 450 more mortgage jobs as loan demand declines

Bank of America Corp, the second-largest US lender, is cutting 450 mortgage jobs from West Coast offices after new loans fell short of internal forecasts, said two people with direct knowledge of the plans. ...

Citigroup is cutting 1,000 mortgage jobs

Citigroup is cutting about 1,000 jobs in its U.S. home mortgage business. ...

Goldman joins Reorient as head of Americas

Reorient Group aims to expand global coverage with hiring of macro-strategist David Goldman ...

Starbucks pastor-to-be shows shift in US job market

The case of a part-time Starbucks barista who is studying to be a pastor points to a US labour market in the early stages of a shift toward more full-time employment choices rather than just low-paying and part-time positions ...

Six UBS Japan bankers leave, as 7 join equities

UBS joins other big banks in bolstering its equities army in Japan – currently the world’s best-performing major stock market – with seven hires, although investment banking unit sheds four managing directors and two executive directors ...

New faces at Bank of America and Barclays Japan

Bank of America hires John Binnie of Moelis & Co for investment banking, while Barclays Japan names former Bank of America Merrill Lynch banker Takeshi Shoji as a director at its Japan investment banking unit and will cover the insurance sector in the financial institutions department ...

Barclays to move 4,000 admin jobs to cut costs

Britain’s third-largest lender by market value, Barclays plans to save as much as £250 million (HK$2.97 billion) by moving the administrative positions – mostly in IT and operations – to outsourcing companies and offshore. The move will bring the job cuts to almost 21,000 since 2008. ...

Charge buoys bonus blues

Impressive second-quarter Wall Street revenue a boost to bankers and traders accustomed to annual profit plunge. ...

Merrill Lynch, Japan banks expand equity teams

Bank of America’s Merrill Lynch hires Stephen O’Shea of Morgan Stanley to head sales, sales trading and execution services for Japan equity products, and five others as salespeople and sales traders. Mizuho Financial Group, Japan’s third-biggest bank by market value, is also bolstering its equities operations in Japan by hiring six equity staff ...

Bank of America names co-head of global TMT

Anwar Zakkour, formerly with JPMorgan Chase, will co-head global telecommunications, media and technology investment banking at Bank of America ...