Managers of Wealth Americas

Citi’s top woman banker comes in to Deutsche to do the work of two men.

It is an unfortunate, but practically inevitable fact about the markets that performance is cyclical; good trades are followed by bad trades.

What it means to be an engineering VP in an investment bank

But in investment banking, things work differently; many banks have analysts, associates, vice presidents and managing directors, just like non-technical roles.

Morning Coffee – The client who “tortured” top Jefferies bankers. Citi bonuses could double in three years.

Buysiders tend to come in two categories – the nice ones are a pleasure to work with, and the nasty ones are at least a good source of anecdotes and war stories.

Citigroup and UBS bankers are the most fearful in 2024

A lot of respondents to our survey named Citi’s restructuring as a concern for their job security.

Barclays bankers try to make a last-minute bonus save. The boyband veterans of banking

Or vice versa – perhaps the world is ready for a fresh-faced quartet from Goldman Sachs called “Pls Fix”?

Traders versus bankers at Goldman Sachs and Bank of America.

In Goldman’s case, this is mainly because they have some space to do so – the 2022 pool was cut very aggressively, meaning that they’ve got some scope to course-correct.

Which bankers are expecting higher bonuses? Not all of them

But not all bankers, even those the same age and gender and race in the same city and bank are made equal.

BofA, Citigroup, Wells Fargo weathered 2023's banking turmoil, face lower rates in 2024

he KBW Nasdaq Bank Index declined 5.6% during the same period.

RBC bankers thought their bonuses would be good. They were not

"The mood music was positive at a global level, but in Europe bonuses were underwhelming," says one RBC insider.

TD ranked among top banks in the Dow Jones Sustainability North America Index

TD is recognized for its sustainability efforts for tenth consecutive year

Wells Fargo Investment Institute Believes 2024 is a Pivotal Year for the Economy and Markets

Expected snap back from slowing economy likely in back half of next year

Bank of America traders are having their best Christmas ever. What Wall Street CEOs already hate about 2024

The new rule is only a proposal for consultation – James Gorman of Morgan Stanley has rather more calmly said that he hopes the Fed “will be open to changes”.

Investment banks and the scourge of pre-Christmas job cuts

In the words of one Citi trading insider, the next few weeks could be "brutal."

Citi is still shuffling MDs about, not just letting them go

Citi's combined rates and currencies trading revenues were up 4% year-on-year in the first nine months of 2023

Bank of America Says the S&P 500 Will Hit a New Record High in 2024

That’s fueling some improvement in investor sentiment – and a brighter outlook from the experts.

Wells Fargo CEO expects severance expenses to exceed $750 million

The bank has reduced its workforce since the third quarter of 2020 and it stood at 227,363 at the end of third quarter of this year.

TD Securities Announces Significant Expansion of Its Global Financial Institutions Group

Key Hires Made Across Investment Banking, Global Market

It's going to be "brutal" at Citigroup, but maybe not here

As Citi cuts, however, one group of managing directors may be more immune than others.

Another much loved Citi MD resigned for a more exciting alternative

As senior people leave, there are already signs that Citi is changing job titles and slimming down the structure in its engineering division.

TD Bank Group Declares Dividend

For the January 31, 2024 dividend, the Bank will issue the additional shares from treasury, with no discount.