Investment bank Cowen Group Inc. said Kim Fennebresque is retiring as chief executive, effective immediately. Also, Deutsche Bank named David Conroy Managing Director and Americas Head of Trade Finance and Cash Management Corporates for its Global Transaction Banking unit. Meanwhile, the $6.3 billion dollar purchase by H-S-B-C Holdings of a stake in Korea Exchange Bank will not hinder market competition, the Fair Trade Commission said. Finally, China's top brokerage by assets is negotiating a bigger stake in Bear Stearns to reflect the U.S. investment bank's tumbling stock price, a CITIC executive told Reuters.
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