BoA hire head of capital introductions

Bank of America (BoA) is continuing to delayer is top management having appointed David Darnell and Tom Montag to the newly-created positions of co-chief operating officers, accountable for all of the company’s operating units. Mr Darnell is responsible for businesses serving individual customers and clients including deposit, card, home mortgage, wealth management, small business, and [...]

TORONTO — Kinross Gold Corporation (TSX:K) is reporting a multi-billion dollar net loss in its fourth quarter after taking a $3.2-billion impairment charge, mostly on its Tasiast mine. The Toronto-based miner reported a net loss of $2.989-billion, or $2.62 per share for the three months ended Dec. 31, compared to a net loss of $2.79-billion, or $2.45 per share in the year earlier period. On an adjusted basis, Kinross reported net earnings of $276.5-million, or 24 cents per share — beating analyst estimates by a penny.

(GENEVA) — Swiss banking giant UBS AG announced massive layoffs Tuesday along with huge losses in its third-quarter results, saying it aims to trim as many as 10,000 employees, or some 15 percent of its staff, to drastically shrink its ailing investment bank. Switzerland’s biggest bank said that as part of the cost-cutting drive to boost profitability it “is likely to have a headcount of around 54,000″ by 2015, down from its current 64,000 employees among 57 countries.

Investors are always eager to hear what top hedge fund managers have to say about the current market environment. Some will get their chance on Thursday, April 18, when Introduction Capital hosts the 3rd Canadian Alternative Investment Forum at the St. Andrew’s Club in Toronto.

HONG KONG (Reuters) - Morgan Stanley's head of prime brokerage sales for Singapore, Carl Davey, will be leaving the firm after 16 years to join Citigroup's unit providing services such as clearing trades and lending money to hedge funds in Asia-Pacific. Davey will lead prime brokerage sales at Citi for Greater China region and is among one of the four hires by the Wall Street bank this quarter, David Murphy, head of Citi's prime finance unit for Asia-Pacific, told Reuters, confirming the hire. ...

By Lalit Sharma:John Paulson is the founder and president of Paulson & Co., a New York-based hedge fund with $30 billion in assets under management. He is famous for his bet against subprime mortgages in the last downturn. The billionaire hedge fund manager earned $3.7 billion in 2008 by shorting mortgage-backed securities. More recently in 2010 he made $4.9 billion from his portfolio.