News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Merrill Lynch to Halt Broker Recruiting

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Merrill Lynch will temporarily stop paying top dollar to recruit experienced brokers, according to a person familiar with the matter, the latest brokerage to make changes to how it compensates brokers poached from rivals.

Citi Names Leaders for New Credit-Markets Group

Citigroup Inc. has tapped Mickey Bhatia and Carey Lathrop to be co-heads of a new group spanning credit trading and securitization, key cogs in its sprawling and growing fixed-income business.

China Opens Market Access to U.S. Credit-Card Networks

Markets reacted coolly to what could be great news for credit-card networks Visa and Mastercard given a U.S.-China access agreement.

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Brazil's Itaú to Acquire 49.9% of Brokerage XP for $1.9 Billion

Brazilian bank Itaú Unibanco agreed to pay more than $1.9 billion to buy a 49.9% stake in local brokerage firm XP Investimentos, along with options to acquire full control in the future.

SEC Turns to Big Deals Lawyer to Spur More Public Companies

To drive more companies to go public, the new head of the SEC has turned to a veteran Silicon Valley attorney who has been involved in some of the biggest deals in history.

China's Bank Lending Expanded in April

Strong demand from households and businesses drove up bank lending last month, though nontraditional credit slowed as the authorities moved to restrict shadow banking.

Goldman's Investment Bankers Follow Their Own Advice

Goldman Sachs is splitting its investment bankers who focus on healthcare and consumer and retail companies into two groups with separate leaders.

Stopping the Fire in Spain's Weakest Bank

The most remarkable thing about the troubles of Spanish lender Banco Popular Español is how little they seem to matter to the country or the wider eurozone. Italian policy makers must be seething with envy.

Barclays Shakes Up Investment Banking Unit, Announces Hiring Spree

Barclays's corporate-and-investment banking chief Tim Throsby has taken interim control of the bank's markets business and launched a hiring spree as the British lender looks to bolster returns at the unit.

Anthem Ends Cigna Pursuit, Plans to Seek Damages

The $48 billion tie-up of health insurance companies has ended after a Delaware judge ruled Thursday that Cigna could walk away from the deal.

(END) Dow Jones Newswires

May 12, 2017 16:15 ET (20:15 GMT)