Bloomberg Commerzbank AG increased the amount it will pay for a job cuts program to more than 2 billion euros ($2.4 billion), as Chief Executive Officer Manfred Knof overhauls the lender to boost profitability. The German bank’s anticipated costs of “slightly above” 2 billion euros compares with an earlier estimate of about 1.8 billion euros. The lender raised its estimate ...

Bloomberg Credit Suisse Group AG named Neil Hosie head of equities for Europe, Middle East and Africa, replacing Ryan Nelson who stepped down after bank lost $5.5 billion in the collapse of Archegos Capital Management. Hosie will remain as head of equities for Asia Pacific, according to people familiar with the decision who asked not to be identified since the ...

Bloomberg Investment firms shouldn’t be allowed to keep half a billion dollars Citigroup Inc accidentally sent them because the payment wasn’t due for three more years, legal experts and advocacy groups said in asking a court to overturn the ruling. A group of law professors said in a brief with the federal appeals court in Manhattan that the lower-court ruling, ...