News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

White House to Nominate Joseph Otting as Comptroller of the Currency

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President Donald Trump will nominate Joseph Otting to a post overseeing federally chartered banks, a move that would place a former banker in a key regulatory role.

Venezuela Tries to Resell $5 Billion Bond at Deep Discount

Venezuela is attempting to resell at a deep discount $5 billion of bonds it originally issued in December through a Chinese brokerage.

Supreme Court Deals Setback to SEC on Recovering Illegal Profits

The Supreme Court dealt a defeat to Wall Street's top cop, ruling that the Securities and Exchange Commission is subject to time limits when requiring companies or individuals to forfeit ill-gotten gains from fraud.

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Pimco Threatens to Scuttle Novo Banco Sale

Pacific Investment Management Co., or Pimco, and other bondholders in troubled Portuguese lender Novo Banco are threatening to derail a sale of the bank to private equity group Lone Star Funds, saying they would rather buy it themselves.

Southern Europe's Most Troubled Lenders Stumble Toward Solutions

Problems in several long-suffering lenders in southern Europe are coming to a head, a reminder of weak links remaining in the region's banking system despite progress made by many larger lenders to repair their balance sheets.

Buyout Firms Eye Gusher of Cash From Aramco IPO

At least 20% of the Saudi Aramco IPO proceeds are expected to be invested in private equity, part of the first significant international investing in the kingdom's history. But for those who manage to secure a slice of the bounty, it won't come for free.

AmTrust Swaps Finance Chiefs

AmTrust Financial Services said it would replace chief financial officer Ronald Pipoly Jr. with Adam Karkowsky, another company insider.

Goldman Wealth Adviser Breaks Away

David Darby, a Goldman Sachs financial adviser who oversaw $1 billion in assets, is launching his own firm, the bank's latest wealth-management departure.

Merrill Pulls In Brokers Before Recruitment Pause

Just before a self-imposed recruiting pause set in, Merrill Lynch made at least three multibillion-dollar hires from its biggest rivals.

How Funds Are Beating This Market

Active fund managers are beating the market for the first time in years. But the way they are getting the gains doesn't inspire confidence that their winning streak will go on for much longer.

(END) Dow Jones Newswires

June 06, 2017 00:15 ET (04:15 GMT)