Daniele Nouy may find herself the only woman in the room in meetings with Europe’s top bankers.

Bank of New York Mellon Corp., the world’s largest custody bank, plans to expand its Hong Kong office to include securities broking this year as it seeks to tap Asian demand for U.S. bonds and stocks.

Bank of America Corp. boosted Chief Executive Officer Brian T. Moynihan’s compensation 17 percent to $14 million for last year as profit more than doubled.

PNC Financial Services Group Inc. (PNC), the second-largest U.S. regional bank, is expanding its commercial banking services in Canada.

Investors are losing patience with hedge-fund managers who rely on computers to follow global market trends after three years of underperformance. Quantitative hedge funds run by companies such as Man Group Plc (EMG) and Michael Platt’s BlueCrest Capital Management LLP saw investors pull $4.9 billion in the last three months of 2013, the most in five years, according to Chicago-based data provider Hedge Fund Research Inc. That followed outflows of $1.1 billion in the second quarter and $668 million in the third, HFR said. It was the largest quarterly outflows for the quant funds since the first three months of 2009, when investors desperate to get their hands on cash amid the financial crisis pulled $5.7 billion, according to HFR. In all, the funds had $1.7 billion of outflows last year compared with $9.5 billion of inflows in 2012 and a record $25 billion in 2011, HFR data show. HFR estimates quant funds now manage about $224 billion worldwide. “The last three years have been a tough period for nearly all managed-futures funds,” Svante Bergstrom, who runs a quant fund at Stockholm-based Lynx Asset Management AB, wrote in a report to investors this month. “Some investors have started to become impatient and are considering moving their assets to investments where they believe they have better opportunities to achieve a good return.”

China, the largest foreign U.S. creditor, reduced holdings of U.S. Treasury debt in December by the most in two years as the Federal Reserve announced plans to slow asset purchases.

The Federal Reserve approved new standards for foreign banks that will require the biggest to hold more capital in the U.S., joining other countries in erecting walls around domestic financial systems. Banks with $50 billion of assets in the U.S. will have to meet the standard under a revised rule approved yesterday, which raised the threshold from $10 billion proposed in 2012. The central bank left out two controversial elements of the original proposal, saying those were still being developed.

Investment banks from UBS AG (UBS) to Morgan Stanley spent half a decade building their operations in India, betting that a growing economy would trigger a boom in mergers and stock sales. They’ve spent the last three years reversing that expansion.

The Indian High Commission has asked banks operating in Singapore to set up money-remittance kiosks at workers’ dormitories after a riot in the Little India district led to restrictions in the area.

Maurice “Hank” Greenberg’s Starr Investment Holdings agreed to buy MultiPlan Inc., a manager of claims for large health-care insurers, from two private equity firms.

Hedge-fund manager David Einhorn said Federal Reserve policy intended to stimulate the economy and create jobs is “no longer useful” because it risks inflation.

Demonstrators took to the streets in May Day protests across the U.S., sending a singing “Guitarmy” to Manhattan’s Union Square and smashing windows in Seattle.

Wells Fargo & Co. (WFC), the fourth-largest U.S. bank by assets, could have a “competitive advantage” as bigger lenders are required to hold more funds, Chief Financial Officer Tim Sloan said.

Australia & New Zealand Banking Group Ltd. (ANZ), Australia’s third-largest bank by market value, said first-half profit rose 10 percent on higher income from its offshore businesses.

U.S. Treasury Secretary Timothy F. Geithner called on China to loosen state control of its financial system and to raise the ceiling on deposit interest rates.