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The Monday Express: North American financials


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The Monday Express: North American financials

* With Gary Cohn probably leaving Goldman Sachs, sources for The Wall Street Journal say investment-banking co-chief David Solomon and CFO Harvey Schwartz are his likeliest successors. Possibly taking Solomon's post, in turn, are Marc Nachmann and Gregg Lemkau; possibly replacing Schwartz are Stephen Scherr and Pablo Salame.

* New Jersey-based Prudential Financial is being sued by three former managers, and the latter are claiming some of the insurance firm's customers are Wells Fargo clients who did not actually sign up for accounts.

* In more Wells news, Wall Street's own watchdog is asking the bank's former employees to let it know if they were wrongfully terminated in connection with the fake-accounts scandal. Only those registered with the Financial Industry Regulatory Authority are eligible for assistance.

* Coming up this week is another Wells update on its retail banking customer activity. The conference call is on Dec. 16, Friday.

* Possibly out today is a report by the U.S. Treasury and the Office of the United States Trade Representative on the progress made on a bilateral insurance agreement between the EU and the U.S. on insurance and reinsurance supervision matters.

* A repeal of the Affordable Care Act will require a two-to-three-year transition period, as it takes insurers 18 months to prepare, Association of Health Insurance Plans President and CEO Marilyn Tavenner told state insurance regulators.

* The National Association of Insurance Commissioners named Michael Consedine, former Pennsylvania insurance commissioner and current AEGON NV executive, its new CEO.

* And, in the credit union scene, South Carolina-based Beech Island Credit Union merged into Georgia's Peach State Federal Credit Union on Nov. 1.

The Daily Dose: Express Edition is updated as of 6:30 a.m. ET. Some external links may require a subscription.