Cisco Exec Opines in Video, BofA Shares Shake, Citigroup Aligns With Credit Suisse

Cisco Systems (NASDAQ:CSCO): Cisco’s Marthin De Beer said in a posting to the company’s corporate blog that the company appealed the European Commission’s approval of the Microsoft/Skype (NASDAQ:MSFT) merger to the General Court of the European Union. According to the post, Messagenet, a European VoIP service provider, is also appealing the ruling. De Beer said, “Cisco does not oppose the merger, but believes the European Commission should have placed conditions that would ensure greater standards-based interoperability, to avoid any one company from being able to seek to control the future of video communications.”

Bank of America Corporation (NYSE:BAC): Goldman Sachs Group and Morgan Stanley (NYSE:MS) warned U.S. regulators that a proposed ban on proprietary trading could make the financial system more risky and curtail services for clients, reports Bloomberg. Shares of Bank of America Corporation are trading 1.75% higher today.

Citigroup (NYSE:C): Citi announced an agreement with Credit Suisse’s Asset Management division to provide a comprehensive suite of middle office, custody and hedge fund administration services to support a portion of its US-based Alternative Investments business. As part of the mandate, a portion of the middle office operations within Credit Suisse’s Asset Management division will be fully transitioned onto Citi’s service platform, which includes operations, technology and data management capabilities. “We are pleased to demonstrate the value of our expert staff and leading technology to Credit Suisse’s Asset Management division,” said Mike Sleightholme, Head of Global Hedge Fund Services, with Citi’s Global Transaction Services.

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com