Bloomberg Wells Fargo & Co.’s new public finance chief Stratford Shields is shaking up the department by dismissing senior bankers in New York, Chicago and Los Angeles and bringing in colleagues from his former employer, Morgan Stanley. Fifteen employees from its public finance department were removed, retired or quit as the bank shifted its strategy, according to a person familiar …

Bloomberg The Bank of Korea (BoK) stayed the course amid rising uncertainty, leaving its benchmark interest rate unchanged in a unanim-ous decision. The central bank is balancing concerns including record household debt and recent weak domestic economic data with external risks such as rising US interest rates and global emerging-market instability. Governor Lee Ju-yeol described uncertainties as high, and as …

Bloomberg Kenya plans to overhaul legislation governing its financial sector by creating new agencies that regulate the cost of credit and protect consumers, according to a draft law on the Treasury’s website. The Financial Markets Conduct Bill seeks to “promote a fair, non-discriminatory marketplace for access to credit, to provide for the establishment of uniform practices and standards in relation …