News Highlights: Top Financial Services News of the Day

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GOP Divided Over Monetary Policy as Fed Chief Pick Looms

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After criticizing the Fed for the past eight years, Republicans finally have a chance to change the course of the central bank when President Donald Trump nominates someone to take the helm in early 2018. But they are divided over which direction monetary policy should take.

LSE Chief Rolet to Leave Next Year

London Stock Exchange said Chief Executive Xavier Rolet would leave the company by the end of next year, bringing down the curtain on a tenure marked by a big bet on index services and a failed attempt to create a pan-European exchange.

China to Allow Foreign Banks to Increase Holdings in Domestic Lenders

China will give foreign banks more space in conducting business in China, including allowing them to increase stakeholdings in domestic banks, the nation's top banking regulator said.

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AmEx Retirement Shines Light on Lack of Diversity in CEO Ranks

Kenneth Chenault's retirement from the chief executive post at American Express Co. will reduce the number of African-American CEOs of Fortune 500 companies by a quarter.

American Express CEO to Step Down After 16 Years

Kenneth Chenault, the head of American Express Co. and one of the country's most prominent African-American corporate leaders, will step down as chairman and chief executive Feb. 1, capping a 16-year run.

SEC Names J.P. Morgan Executive as Top Regulator of Exchanges

The SEC on Wednesday tapped J.P. Morgan Chase's top electronic-trading executive as a senior regulator, signaling an appetite for shaking up rules that are blamed for fragmenting trading across dozens of venues and fomenting the rise of high-frequency trading.

Equifax Faces Shareholder Call for Governance, Pay Changes

An adviser to union pension funds invested in Equifax Inc. wants the company to permanently split the chairman and chief executive roles in the wake of its massive data breach.

U.S. Bank Profit Shoots Higher, But Questions Linger on Loan Growth

U.S. Bancorp, the biggest so-called regional bank in the U.S., said its third-quarter profit rose to a record level, but analysts raised questions about future loan growth.

Fed's Beige Book: Economic Activity Grows Despite Hurricanes

Economic activity grew at a measured pace across the country in September and October, despite sector-wide disruptions caused by recent hurricanes in the Southern and Eastern U.S., according to a new report from the Federal Reserve.

Coin Offering Raises $232 Million, Then a Fight Broke Out

One of the year's biggest initial coin offerings, a $232 million token sale by Tezos, is embroiled in a management fight that is threatening the deal and highlighting the risks in this red-hot corner of finance.

(END) Dow Jones Newswires

October 19, 2017 07:15 ET (11:15 GMT)