Blogger Archives: Richard Magrann-Wells

Richard Magrann-Wells

Richard is a Executive Vice President with Willis Towers Watson’s Financial Institutions Group based in Los Angeles. During his 25-year banking career, he has managed sales, trading and structuring teams for some of the biggest financial institutions. A regular contributor to American Banker newspaper and other publications, Richard writes about financial technologies ("FinTech"), financial crime, operational and executive risk.

Is International Hacking an Act of War?

tank

Historians will tell you that, despite the bloodshed in the Middle East and Africa, we are currently in one of the most peaceful periods in human existence. However, this era of ostensible peace has us wondering what future war will … Continue reading →

The End of Banking: De Novo No More

bank vanishing

In just 11 years, all banks in the U.S. will be gone. At least, that’s what extrapolating the current pace of bank consolidation would suggest. Less than 30 years ago there were over 18,000 banks; the FDIC reports that as … Continue reading →

Fleeing the Darkness: Will Transparency Change Dark Pools Forever?

dark pool

Private exchanges for trading securities are generally known as dark pools.  Operators and users assert that they bring costs down by providing anonymity when executing large trades.  Those lower prices are, in turn, passed on to average investors. They primarily … Continue reading →

The Next Big Thing in Banking May Not be a Bank

v

“Chase or Google?” my colleague challenged me, asking which would be more important in ten years’ time. The answer may well be neither. Continue reading →

Rakoff Overturned – But May Have “Won” Anyway

Rakoff decision vacated

A judge rejects an SEC settlement and the world was never the same. Three years ago, Judge Rakoff of the Federal District Court in Manhattan rejected Citigroup’s $285 million settlement with the SEC for fraud charges surrounding the issuance of … Continue reading →

High-Frequency Whistle Blowing

Speed trader

The FBI has made an unusual public plea for help rooting out possible securities violations by high-frequency traders.  The FBI doesn’t usually go asking for such help from the financial community.  So what’s changed?   Well, three things have changed to … Continue reading →

Top 10 Financial Institution Court Award & Settlements of 2013

gavel money

Last week I sat down with fellow blogger Ann Longmore to discuss the “top cases” of 2013. Actually we focused on the most influential court awards and settlements specifically affecting financial institutions. Continue reading →

5 Financial News Stories You May Have Missed: “Special” FX

5 Financial News Stories

Here are news stories from the week that were easy to miss, but may have some lasting impact. Continue reading →

Why Traders are Being Barred from Chat Rooms

A number of major banks have banned traders from chat rooms in the last few weeks. It has been a common practice for traders to use chat rooms to have casual online conversations about markets, ideas, even strategies with friends … Continue reading →

5 Financial News Stories You May Have Missed: The Biggest Brother

5 Financial News Stories

This week: European LIBOR fines, trader eavesdropping, civil money penalties, Credit Unions, and Bitcoin. Continue reading →