Managers of Wealth Americas

Freedom to buy investment bank Maxim Group in $400m deal

Freedom’s US CEO Robert Wotczak will become executive chairman of Maxim Group and its subsidiaries, while Maxim Group president Clifford Teller will be elevated to the role of CEO.

Bank of America’s European dealmakers aim to ‘consolidate’ position after first third-place finish in a decade

Citigroup, BNP Paribas, Bank of America, and Deutsche Bank have all been vying for the position over the past 10 years

Execs partner with Charter Capital to form M&A advisory firm for lower middle market

As Charter Capital Partners moves up market to do bigger deals, Lefere and Mills were presented with an opportunity to partner with the firm to serve companies on the lower end of the middle market through LaGrey.

JPMorgan to hire more than 500 small-business bankers over 2 years

Still, major lenders are hiring in some areas.

JP Morgan reaches agreement with Ukraine’s Zelensky on rebuilding infrastructure

JP Morgan bankers spent most of last week meeting with Zelensky and his senior staff where they discussed the creation of a fund seeded with $20 billion to $30 billion in private capital, according to people with direct knowledge of the matter.

Bank of America Sets Record-Breaking Year for Patents Granted in 2022

BofA’s 2022 patents granted rose to 608, 19% over 2021, in categories including artificial intelligence and machine learning, information security, and payments.

Merrill Invites More Brokers to Sell a Portion of Their Practice

Unlike Merrill’s retirement plan, called the Client Transition Program, brokers in the Succession Planning Program, do not commit to retire.

Generational Group Named USA Investment Bank of the Year by Global M&A Network

Firm also awarded several additional M&A Atlas Awards at the awards gala ceremony

Deutsche Bank To Cut Investment Banking Bonuses By 40%

Fixed income will also see an increase in their pay after the unit posted 25% revenue growth in the 9 months leading up to September 30 last year.

Citi beat US rivals amid Asia investment banking pain

The division includes its treasury and cash management businesses, as well as traditional investment banking.

Banking regulator questions "too-big-to fail" philosophy

Hsu’s speech followed up on a May 9 Brookings presentation on bank mergers and industry resiliency.

Goldman shares regain footing as Wall Street sorts out tough quarter of high expenses

Morgan Stanley (MS) fell back by 0.5% on Wednesday after strong gains in the previous session as analysts praised the performance it its wealth management unit.

BAML sees net income increase despite slowing economic environment

The bank reported a revenue jump of 11%, allowing for a marginal increase in net income by $100 million to $7.1 billion.

Citi investment banking decline sees profits drop despite trading boom

A slump in the bank’s investment banking division saw its profits drop 22% despite a strong quarter for its trading business.

Banks’ profit picnic will attract ant invasion

JPMorgan, Bank of America, Wells Fargo and Citigroup all report fourth-quarter earnings on Friday.

Goldman Sachs to start cutting thousands of jobs midweek

Wall Street banks have suffered a major slowdown in corporate dealmaking activity as a result of volatile global financial markets.

Japan’s SMFG mulling to raise stake in Jefferies Financial Group

Ohta was quoted by the publication as saying: “I have a wish to move toward increasing our holdings.”

Big US banks to score first US$1 trillion of profit in a decade

Citigroup, Goldman Sachs and Morgan Stanley are not far behind – and together, the six are poised to make even more next year.

Barclays Names Team One as New Marketing Agency for its U.S. Consumer Business

Team One will begin working with Barclays immediately and its initial work is expected to debut in early 2023.

2023: Banks Prepare for Economic Crisis

Inflation in the United States reached 7.7% in November, four-tenths of a percentage point lower than in September, according to data published by the Bureau of Labor Statistics (BLS).