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...The top US consumer finance watchdog has raised doubts about megamergers in the credit card industry, just as Capital One attempts to close its $35.3bn takeover of card issuer Discover Financial Services...
...But regulators are studying the liquidity risks being stored up in these strategies, and the potential spillover effects for the wider financial sector....
...The bank also bought most of failed US lender First Republic last year....
...The US arm of accounting firm Grant Thornton has agreed to sell a majority stake to the investment group New Mountain Capital, in the largest of a wave of private equity deals that are reshaping the sector...
...Advocates say private equity can bring more efficiency to the profession and access to capital for critical investment, but the financial terms of such deals can prove controversial....
...Abrdn’s shareholders have been urged by influential adviser Glass Lewis to vote against the asset manager’s pay report because of the incoming chief financial officer’s “significant” salary....
...As with Baker Tilly, H&F’s investments are often the first external capital to come into closely held partnerships....
...Rohit Bhat, managing director of capital markets, exchanges and digital assets at Google Cloud, said that high-frequency trading firms were a segment “that we are working very closely with”....
High-speed trading firm sued hedge fund last week over lucrative options trading strategy it claims were stolen
...When the bill comes due, Capital One Financial will need to show it has the funds....
...“I think we’re all trying to get to the moon first,” Hardy said....
...Tiger Global has raised $2.2bn for its latest venture capital fund, roughly a third of the $6bn target it touted to investors when it first announced the fund in 2022....
...The New York Stock Exchange is polling market participants on the merits of trading stocks around the clock as regulators scrutinise an application for the first 24/7 bourse....
...Some of the biggest deals struck in the quarter included Capital One’s $35bn acquisition of Discover Financial, and chip design toolmaker Synopsys’s $35bn takeover of engineering software maker Ansys....
...In his absence, we have a world-class line-up of Financial Times journos, including Katie Martin on the bull case for dividends....
...US lender Capital One has agreed to buy rival Discover Financial for $35.3bn, in an all-stock tie-up that is set to unite two of America’s largest credit card companies....
...He was a day-one investor in venture capital giant Sequoia Capital, as well as other leading private capital groups including Benchmark Capital and Hillhouse Investments....
...He had met the co-head of Barings’ private finance group Adam Wheeler years earlier, when Wheeler worked at Australian firm AMP Capital, although Weightman said that this brief encounter had no bearing on...
...The reshuffle comes ahead of Google’s first-quarter earnings on 25 April and its annual I/O developer conference on 14 and 15 May at its headquarters in Mountain View, California....
...Blake Kleinman, partner at H&F, said after doing the Baker Tilly deal that his firm liked to be “the first capital” coming into a partnership to shake up the ownership model....
...The Palmer Square Capital BDC is the first of a bunch of BDC IPOs in the pipeline, helped by the ravenous demand for non-bank “private credit” that Alphaville has discussed ad nauseam....
...Bloomberg first reported Citadel’s and Millennium’s performance....
...An OCC spokesperson said the agency had “not received a filing from Capital One regarding Discover Financial Services”....
...This included scrapping the investment management deal, which the Financial Times reported last year. At the time, Credit Suisse said a change to the contract would lead to a $600mn loss for the bank....
...The figures suggest that top managers prioritise careful deployment of investors’ capital, rather than making the fund as large as possible....
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