Banking
- Finance
Binance rolls back European derivatives business
Binance, the world’s largest cryptocurrency exchange, will cease offering futures and derivatives products to investors in some European countries amid…
Read More » - Finance
Damning Archegos report slams ‘lackadaisical’ attitude to risk at Credit Suisse
Credit Suisse’s $5.5bn loss from the collapse of family office Archegos Capital was down to a “fundamental failure of management”…
Read More » - Finance
Credit Suisse M&A fees slide by 34% amid dealmaker exodus
Credit Suisse’s M&A revenues tumbled by 34% in the second quarter as the Swiss bank battled to stem an exodus…
Read More » - Finance
Lazard CEO Jacobs set for 12 star dealmaker hires amid record second quarter
Lazard is continuing to hire senior dealmakers amid an M&A boom that has pushed the independent investment bank to a record…
Read More » - Finance
Trading Places: Credit Suisse nabs Goldman risk boss; Barclays’ overhaul rages on
As Credit Suisse continues to reel from scandal, the bank tapped a Goldman Sachs executive as its next chief risk…
Read More » - Finance
Bank of America hires Goldman’s Malhotra in leverage finance leadership role
Bank of America re-hired a senior Goldman Sachs dealmaker to lead its leveraged finance origination business in Europe. Uday Malhotra…
Read More » - Market
NatWest Swung to 2Q Pretax Profit, Resumes Dividend, to Launch GBP750 Mln Share Buyback — Update
By Sabela Ojea NatWest Group PLC on Friday reported a swing to a pretax profit ahead of market views for…
Read More » - Finance
Credit Suisse made deep cuts to risk team ahead of Archegos collapse
Credit Suisse had just a single senior risk manager in its US prime services division last year as the bank…
Read More » - Finance
BNP Paribas equities trading revenues double as push continues
BNP Paribas’ ongoing push into equities trading led to a record quarter for the unit, but its investment bank revenues still…
Read More » - Finance
Barclays unveils new M&A leaders in Europe as shake-up continues
Barclays named new leaders of its European mergers and acquisitions team in Europe, the latest shake-up at the UK lender’s…
Read More » - Finance
Barclays dealmakers post record quarter despite sharp fall in fixed income trading
Barclays investment bankers posted a record quarter despite a 40% slump in fixed income trading revenues as fees surged during…
Read More » - Finance
View: Why quashing Tom Hayes’ Libor conviction could spell a new era for the City
Tom Hayes stands within a whisker of rewriting his role in one of the biggest scandals to grip financial markets…
Read More » - Finance
Morgan Stanley hikes junior banker salaries to $100,000
Morgan Stanley has raised base salaries for entry-level bankers to $100,000, leaving Goldman Sachs as the last remaining Wall Street bank…
Read More » - Finance
Ex-Lanistar staff allege bullying, sexism, and a ‘loser’s table’ for missing targets
Staff at celebrity-promoted fintech startup Lanistar were routinely sexually harassed and bullied over the past year, according to the accounts…
Read More » - Finance
Hire ‘poor, hungry kids’ instead of ‘entitled’ grads to solve banker talent crisis, Xavier Rolet says
Investment banks should hire “poor, hungry” graduates if they want to stave off a crisis among junior bankers, which are rebelling…
Read More » - Market
Fed says economy has ‘made progress’ toward standards for tapering, but not enough to start yet
The Federal Reserve on Wednesday signaled that the countdown has begun on scaling back its massive support for the U.S.…
Read More » - Finance
Why Amazon’s crypto bet isn’t about bitcoin — it’s about banks
Though blockchain has long been on its agenda, Amazon’s entry into digital currencies as the world’s largest online retailer has…
Read More » - Market
Deutsche Bank 2Q Profit Beats Estimates Amid Lower Provisions — Update
By Mauro Orru Deutsche Bank AG posted profit ahead of analysts’ expectations for the second quarter as provisions for credit…
Read More » - Finance
Deutsche Bank doubles M&A fees as it sidesteps fixed income trading slump
Deutsche Bank dodged the second quarter fixed income trading slump, with revenues shrinking by 11% as fees from mergers and…
Read More » - Finance
Credit Suisse set to issue report on Archegos errors
Credit Suisse is likely to publish an investigation as soon as Thursday into the breakdown that led to massive losses from…
Read More » - Market
Barclays 2Q Pretax Profit Rose Above Views, Pre-Pandemic Levels — Update
By Sabela Ojea Barclays PLC on Wednesday reported a significant rise in pretax profit for the second quarter, surpassing market…
Read More » - Market
Nasdaq leads drop in stocks ahead of tech earnings, as major indexes pull back from records
U.S. stocks closed lower Tuesday, after a five day rally to record highs for the main indexes, ahead of quarterly…
Read More » - Market
Feds sell one-of-a-kind Wu-Tang Clan album forfeited by ‘Pharma Bro’ Martin Shkreli
A one-of-a-kind Wu-Tang Clan album that had been owned by jailed pharmaceutical executive Martin Shkreli has been sold by the…
Read More » - Finance
Barclays names new capital markets leaders in latest shake-up
Barclays promoted a swathe of senior capital markets bankers as the UK lender continues to reshape the top of its…
Read More » - Finance
Credit Suisse hires Goldman Sachs executive Wildermuth as new chief risk officer
Credit Suisse has tapped a Goldman Sachs executive as its next chief risk officer as the Swiss bank continues to…
Read More » - Finance
The collapse of Archegos shows how important it is to understand data
Extreme liquidity, combined with high levels of market volatility and high-tech valuations, can make a lethal cocktail. The collapse of…
Read More » - Finance
Standard Chartered scraps academic bar in bid to attract diverse apprentice pool
Standard Chartered is offering a route into a front-line investment banking job for those from lower socio-economic backgrounds by scrapping the…
Read More » - Finance
Bankers now face compliance crackdown over Covid rule breaches
Compliance rules have always been a headache for City workers. During the pandemic, they are becoming a nightmare. Texts about…
Read More » - Finance
Bitcoin tumbles from $40,000 high after Amazon denies crypto plans
Cryptocurrencies lost ground after spike in momentum as e-commerce giant Amazon denied speculation that it planned to develop its own token, causing…
Read More » - Finance
These banks now pay 20-somethings starting salaries of $100,000 or more
The world’s largest investment banks have hiked junior banker pay to six figures over the course of the past month…
Read More » - Finance
Redundancies spike ninefold for senior managers in financial services on back of Brexit
A nine-fold increase in senior manager redundancies at financial services firms is down to Brexit, as UK companies restructured in the…
Read More » - Finance
Tether executives facing federal criminal probe; reports
Executives at Tether International, the company that issues the digital currency tether , are facing a federal criminal probe into…
Read More » - Finance
JPMorgan names UBS’s Novak as head of shareholder engagement in Europe
JPMorgan has hired a senior dealmaker to lead its activism defence team in Europe, poaching from UBS for the role.…
Read More » - Finance
Starling Bank makes first acquisition with £50m deal for mortgage lender
Starling Bank agreed to acquire a buy-to-let specialist mortgage lender in a £50m deal, marking the fintech firm’s first acquisition…
Read More » - Market
Fed to tiptoe towards tapering this week
The Federal Reserve is expected to have a lengthy discussion this week about slowing down the monthly bond purchases that…
Read More » - Finance
Central bankers need to be put in their place as their sphere of influence grows
In the Forbes list of the World’s Most Powerful People for 2012, Ben Bernanke, then the chair of the US Federal…
Read More » - Finance
Credit Suisse sheds investment banking market share as Barclays looks to drive up ranks
Barclays recently overtook Credit Suisse in investment banking revenue, a sign that the UK bank’s long, frustrated push to be a major player…
Read More » - Finance
Credit Suisse settles spying case with former executive Iqbal Khan
Credit Suisse has reached a settlement with former international wealth management head Iqbal Khan and private investigators over a spying…
Read More » - Finance
Bitcoin bounces above $39,000 as Binance limits crypto leverage
Bitcoin briefly rose above the $39,000 threshold after six consecutive days of positive trading, rebounding after a run of price falls…
Read More » - Banking
UK banks and miners boost dividends beyond expectations in Q2
Q2 2021 marks the first period to be compared to a pandemic quarter and was “always destined” to receive favourable…
Read More » - Finance
KPMG slammed by watchdog for ‘unacceptable’ bank audit failures
Big Four accountancy firm KPMG has been criticised by the Financial Reporting Council for an “unacceptable” failure to improve its audits…
Read More » - Finance
Dimon life: Will JPMorgan boss’s bonus rub shareholders up the wrong way?
Aw, you shouldn’t have. JPMorgan Chase’s board surprised investors by giving chief executive officer Jamie Dimon 1.5 million stock options on top of…
Read More » - Market
Here’s what a Bank of America strategist says investors should do next as market rotation enters round four
To Bank of America global investment strategist Michael Hartnett, there have been three distinct phases to describe market action over…
Read More » - Finance
Xavier Rolet on his 130-hour weeks at Goldman: ‘Not sure what today’s generation is complaining about’
How many hours do you really need to clock in investment banking? A group of first-year Goldman Sachs analysts, stretched…
Read More » - Finance
Can Spacs conquer the world of wealth management?
While the boom in special purpose acquisition companies may well be tailing off slightly, market watchers are still waiting for…
Read More » - Finance
Will a government venture capital fund really help private investors?
It is hard to overstate how far the European venture capital industry has come since the turn of the millennium. Although…
Read More » - Market
More than 1 in 10 Americans invested in crypto this year — here’s how they differ from stock market investors
The stock market has more diverse offerings than the crypto market, but the opposite is true when it comes to…
Read More » - Finance
Stanhope Capital taps Goldman’s Shelley for CFO role
Stanhope Capital Group, the London-based wealth manager and advisory firm, has named Goldman Sachs’ Chris Shelley as its chief financial…
Read More » - Finance
Barclays hires SocGen veteran Meyer as European dealmaker hiring spree continues
Barclays has hired a 23-year veteran from Societe Generale for a senior investment banking job in Europe as the UK…
Read More » - Finance
Bitcoin looks fraught as an inflation hedge amid selloff
Bitcoin’s steep selloff is undercutting the argument made by the digital currency’s proponents that it’s an inflation hedge. The original…
Read More »
