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McKinsey Agrees to Pay 122 Million to Settle South Africa Bribery Case
McKinsey & Co. has agreed to pay over $122 million to settle criminal allegations related to a corruption scandal involving South Africa's Transnet SOC Ltd. The US Justice Department will refrain from pursuing further action against the firm for 3.5 years, contingent on no additional misconduct. This resolution addresses both US investigations and charges from South Africa's National Prosecuting Authority.
Members of Stifel Financial Corp.'s Swiss equities team are reportedly leaving to join Oddo BHF, with about six staff members, including sales, traders, and analysts, giving notice. This transition follows Stifel's reduction in research personnel in Switzerland. Oddo BHF is expanding its operations in the region amid opportunities arising from the fallout of Credit Suisse.
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