05/31/2023
Why Goldman Sachs needs to cut MDs (and partners)
Both they and partners at the firm tend to pile up due to a rule relating to restricted stock vesting that was introduced in 2008.
Investment Banking
05/24/2023
JPMorgan’s guide to how an investment bank works now
JPMorgan’s payments team, meanwhile, is silently in the background facilitating all of the above-mentioned economic activity
05/24/2023
Citi to Pursue Initial Public Offering of Its Consumer, Small Business and Middle Market Banking Operations in Mexico
Citi To Resume Share Buybacks This Quarter
05/17/2023
Jamie Dimon says it’s ‘unlikely’ that JPMorgan Chase will acquire another struggling bank
The turmoil in mid-sized banks sparked by the Silicon Valley Bank collapse in March shows that merely meeting regulatory requirements isn’t enough, Dimon added.
05/10/2023
Raymond James bolsters Consumer & Retail Investment Banking practice with senior banker hire
Goldstein arrives with more than 18 years of experience in investment banking and mergers and acquisitions advisory services.
05/05/2023
TD Bank and First Horizon decide to end their merger deal
The payment is in addition to the $25m fee reimbursement payable to First Horizon under the merger agreement.
05/02/2023
Jefferies and SMBC Expand and Strengthen Strategic Alliance, Broadening Joint Business Efforts and Increasing SMBC’s Equity Ownership in Jefferies
Jefferies and SMBC Group’s Strategic Alliance Expands to Additional Businesses, Including a Full Suite of Capabilities for U.S. Investment Grade Companies, to Further Enhance Investment Banking Services to Our Broad Client Base
04/28/2023
Raymond JAmes Financial Reports Second Quarter Of Fiscal 2023 Results
Record quarterly net revenues increased 7% over the prior year’s fiscal second quarter.
04/27/2023
Surging Earnings Estimates Signal Upside for JPMorgan Chase & Co. (JPM) Stock
Consensus earnings estimates for the next quarter and full year have moved considerably higher for JPMorgan Chase & Co.
04/24/2023
Making managing director at JPMorgan: Here’s how it happens
JPMorgan has a 'rigorous' five-month process for selecting it's new MDs.
04/24/2023
Bank of America Continues Strong Performance with Positive Q1 FY21 Results and Focus on Sustainability
In related news, insider Matthew M. Koder has sold large portions of his holding in Bank of America in recent weeks, resulting in significant sums of money changing hands.
04/19/2023
Bank of America beats profit targets and sees record inflows of $37 billion from new and existing clients
Bank is latest to benefit from deposit flight from smaller and regional lenders
04/19/2023
Big investment banks set to cut jobs, pay in 2023 as Q1 revenues hit 7-year low
The bonus cuts were closely linked to weaker revenues in 2022, which fell 49% year over year in the advisory and capital markets underwriting units of the 12 largest global investment banks
04/17/2023
Citi continues to sell Banamex
“We have tremendous work going on in Mexico,” said Jane Fraser, global head of Citigroup.
03/29/2023
Jefferies quarterly profit slides on stagnant dealmaking
Analysts were expecting 43 cents a share, according to Refinitiv. It was not immediately clear if the estimates were comparable.
03/28/2023
Bank of America Pares Down Wealth Lending Unit
The firm had aimed for 800 of the specialists, who help identify bank sales opportunities for wealth customers, by the end of 2022.
03/21/2023
JPMorgan CEO leading talks for new First Republic rescue plan - WSJ
The banks are considering an investment into First Republic, the WSJ report said, adding that the plan could involve converting some or all of the $30 billion of deposits into a capital infusion.
03/14/2023
The Banking World's Woes Continue as Wells Fargo Customers Report Missing Paychecks
One immediate problem for consumers is that some companies with money locked on SVB's platform warned they may have to delay employee's paychecks.
03/10/2023
Banks including JPMorgan, Charles Schwab, see $52bn rout on SVB’s deposit losses
The tech-focused lender said it lost nearly $2bn selling assets following a larger-than-expected decline in deposits
03/09/2023
Citigroup to recalibrate investment banking workforce as required- Bloomberg News
The recent announcement follows the bank's plan to lay off less than 1% of staff