Op risk data: Allianz dealt a $4bn blow for not-so-Alpha Funds
Also: Credit Suisse cops two cartel shops; banks get slapped in gender pay gap. Data by ORX News
Allianz, the Germany-based insurer and asset manager, sustained February’s largest loss by far when it provisioned €3.7 billion ($4.0 billion) for anticipated settlements with pension fund investors in Allianz Global Investors’ US Structured Alpha Funds. The move follows a string of investigations by German federal regulator Bafin, and by the US Department of Justice (DoJ) and Securities and
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