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...Mellon acquired three-quarters of the London-based boutique asset manager in 1996 before purchasing the remaining chunk of the business in 2002....
...New York Community Bancorp and its chief risk officer parted ways shortly before the regional US lender reported larger than expected losses from real estate lending that hammered the bank’s stock....
...Additional reporting by Joshua Franklin and Jennifer Hughes in New York...
...The bank also bought most of failed US lender First Republic last year....
...Earnings per share in BNY Mellon dropped 47 per cent in the final quarter of 2023 from a year earlier, but were up 38 per cent annually....
...Bank of America, the nation’s second-largest lender, said as it reported results on Tuesday that new loan growth stalled in the quarter, with BofA’s chief financial officer Alastair Borthwick calling lending...
...The US has eight G-SIBs: JPMorgan, Citigroup, Bank of America, Goldman Sachs, Morgan Stanley, Bank of New York Mellon, State Street and Wells Fargo....
...But openness was behind the development of the internet itself. AI has produced a new fight between open and proprietary tech....
...unemployment figures US: IMF releases its World Economic Outlook along with Chapter 1 of its global financial stability report Results: Bank of America Q1, Bank of New York Mellon, Q1, Johnson & Johnson...
...Shares in NYCB were down about 2 per cent by Wednesday lunchtime in New York....
...Shares of New York Community Bancorp plunged on Wednesday after the lender that bought failed Signature Bank in the middle of last year’s regional banking turmoil cut its dividend to boost its capital and...
...Shares of New York Community Bank plunged 40 per cent on Wednesday after a report that the bank was seeking to raise money to shore up its finances through a stock sale....
...The number of problem banks in the US has jumped 18 per cent, regulators warned, as New York Community Bank was stabilised by a $1bn capital raise led by former US Treasury secretary Steven Mnuchin....
...New York Community Bank, which raised more than $1bn this month to shore up its finances and after shedding two-thirds of its market value since the end of January, had previously more than doubled its assets...
...That would leave UK inflation above the Bank of England’s 2 per cent target, which may help persuade the central bank not to make extensive rate cuts this year....
...Bank of America’s profits fell 18 per cent in the first quarter, dragged down by a jump in potential loan losses and additional expenses tied to last year’s regional banking crisis....
...A group of Wall Street veterans is now setting its sights on a new target: failed banks....
...The start of the year is typically a strong period for banks’ trading businesses with clients returning in January and taking new financial bets, but markets have lacked much of the frenzy of the past few...
...Smits and the bank’s new chief executive, Robin Vince, have been looking for ways for them to work together without sacrificing their distinct brands. “We’ve historically been quite siloed....
...Microsoft has accused The New York Times of “doomsday futurology” for predicting that ChatGPT could ruin the news business, as it seeks to dismiss a lawsuit that claims the artificial intelligence bot’s...
...New York Community Banck is set to raise more than $1bn in a deal led by the investment firm of former Treasury decretary Steven Mnuchin aimed at shoring up its finances after more than a month of turmoil...
...A top US bank regulator is proposing new limits on big bank mergers, in the wake of the failure of Silicon Valley Bank and two other banks last year, and the recent market turmoil around New York Community...
...Canada’s federal government wants its largest pension funds to invest more in domestic companies, and is hiring the former governor of the central bank to entice them....
...“The end state of this project, after the transitions of assets in the coming months, will lead to broadly a 50-50 asset split for depositary and administration between State Street and BNY Mellon based...
...Email alphaville@ft.com with the subject line PQNYC2024, CCing up to five prospective team members for a maximum team size of six. Give the mobile number of the team captain and your team’s name....
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