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Izzy Englander poaches latest partner from Wall Street bank, where David Solomon faces fresh unrest
Talks show largest US lender’s appetite for a payments network to support its credit card business
...Traditional asset managers such as Franklin Templeton, AllianceBernstein and T Rowe Price have been racing to snap up alternative providers, including infrastructure, private equity and private credit funds...
...The move follows deals in which big asset managers, including Ares, Franklin Templeton and PGIM, have increased exposure to the secondaries markets....
Private equity group has shown recent appetite for investing in communications sector
Takeover set to unite two of the US’s largest credit card companies and reshape industry
Bank’s Discover Financial takeover proposal faces an ‘aggressive sheriff’ in US antitrust regulators
...“We expect to see growth slowing globally with the US well positioned to withstand a run-of-the-mill recession should one materialise.”...
...Bitwise has enlisted the pitchman from Dos Equis’s “The Most Interesting Man in the World” ad campaign, Franklin Templeton’s X account last month temporarily endowed its logo with laser eyes, a popular crypto...
...The rumour mill, always frisky at a festival, had gone in to overdrive....
Warburg Pincus and Centerbridge to invest $400mn in newly issued equity
...There are corporate transformation success stories (Nokia started as a paper mill! Nintendo began with playing cards!), but it is always chancy. Becoming a cash cow therefore has a lot of appeal....
...“I think there’s actually going to be some pretty strong inflows out of the gate,” said David Mann, head of ETF product and capital markets for Franklin Templeton, which is among the groups launching spot...
...The deal gives the Canadian insurer a 6.2 per cent stake in Franklin....
...In 2012, Bill Ackman convinced 3G Capital to merge with Justice Holdings, a UK special purpose acquisition company, sponsored by the hedge fund manager, Martin Franklin and Nicolas Berggruen....
...And one smart listen: The FT’s US banking correspondent Stephen Gandel and US banking editor Joshua Franklin discuss the challenge ahead for Citigroup chief Jane Fraser as she embarks on a bold turnaround...
Charlie Javice’s Frank had early high-profile backers before persuading the bank to pay $175mn
...DD’s Sujeet Indap and the FT’s Josh Franklin have the details: most notably Orszag believes the firm can double its revenue and stock price over the next seven years based on the planks of his Lazard 2030...
...Rating agencies typically treat preferred stock deals more favourably than run-of-the-mill loans....
...And Franklin’s first in-house mutual fund-to-ETF conversion is set to take place this year....
Jared Cohen is the Wall Street bank’s latest hire from Big Tech
...Additional reporting by Joshua Franklin...
...He will be replaced in June 2023 by Philip Mills, who has led the firm’s global tax and legal practice since 2019....
Co-founder of boutique investment bank says pressure from new technologies has made M&A ‘less cyclical’
...Additional reporting by Joshua Franklin in New York...
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