NEW YORK (TheStreet) -- JPMorgan Chase (JPM) is mulling moving its European operations from London to Luxembourg, two former Goldman Sachs (GS) bankers are starting a hedge fund and the Justice Department's probe into Citigroup's (C) Banamex USA unit continues.
Also, in the true spirit of finance winners or losers, Bloomberg reports that a New York state "WALL ST" vanity license plate and the 2002 Mercedes-Benz S-Class it is affixed to are being sold on eBay. In case you were wondering, the seller worked for 1980s financial powerhouse E.F. Hutton.
The UK's relationship with the European Union can sometimes be described as tenuous. For example, the British have no plans to adopt the euro and maintain an arms length relationship with other matters related to European integration.
That's among the reasons JPMorgan Chase is in the process of moving some European operations from London to Luxembourg, where a presence would give it access to Europe should the U.K. ever decide to leave the EU. In this era of portmanteaus, the move has already been termed a "Brexit."
Shares of JPMorgan closed up 0.57% at $68.38.
As Goldman Sachs moves closer to launching its own lending platform for individuals and small businesses, two former employees are launching a hedge fund to extend credit, according to Bloomberg. The bankers will be starting Firebreak Capital to provide loans that other banks have to decline due to post-financial crisis regulations.
The fund plans to provide financing to shipping and aviation operators as well as consumer and commercial credit loans.
Shares of Goldman Sachs rose 0.8% to $213.54.
The Justice Department's investigation into Citigroup's Banamex USA unit has revealed lax anti-money laundering practices, Bloomberg reports. Although Citigroup has expressed interest in closing the unit, the bank has still set aside $2.9 billion to cover possible fines tied to Banamex USA as well as other ongoing investigations.
An audit of emails from Banamex USA employees showed that requests for more compliance support staff went unheeded, and that employees were unable to collect enough data on clients making large -- and potentially suspicious -- transactions.
Shares of Citigroup gained 0.4% to $57.07.