Hints and tips:
...For more than a decade Citi has operated with two divisions: ICG and a consumer-focused division that includes Citi’s retail bank, credit cards and wealth management....
...In September, Discover agreed to improve its consumer compliance management system under a consent order from the FDIC....
...Delinquencies in credit card and commercial real estate loans were on the rise, the FDIC said, and were now at the highest level in almost a decade....
...In Europe, the implosion of Credit Suisse showed that even bigger lenders were not immune to turmoil....
...Goldman has earmarked its alternative assets business, which includes areas like private equity, private credit and infrastructure, as a priority for growth....
...The two companies have also signed a long-term partnership that will see Great-West Lifeco’s parent, the Power Corporation of Canada, allocate $25bn to Franklin’s alternative investment funds, which had...
...Job moves Centerview has hired former Credit Suisse co-head of Emea financial institutions group Israel Fernández as a partner, Financial News reports....
...Additional reporting by Joshua Franklin in New York...
...strategy and risk management” than the agency had previously understood....
...First Citizens Bank, which bought the portfolio from the Federal Deposit Insurance Corporation, negotiated a $16.5bn discount from a valuation supplied by the FDIC, equivalent to about 20 per cent, suggesting...
...in asset and wealth management....
...Fitch and S&P Global slashed First Republic’s credit rating on Wednesday....
...manager at credit hedge fund Beach Point....
...But the Federal Deposit Insurance Corporation, advised by longtime investment banker and former Obama administration official Jim Millstein, became frustrated....
...Its poor risk management was compounded by a concentrated client base dominated by venture capital and tech start-ups....
...of Goldman’s retail banking operations, such as its Apple credit card partnership and online lender GreenSky as well as the fledgling transaction banking business....
...Joshua Franklin So he’s also invested in Goldman’s asset management business. So Goldman has a long history of investing money in, you know, making private equity investments....
...Additional reporting by Joshua Franklin and George Hammond...
...Banks, again, they were all saying that everything that they’re seeing in their numbers shows that US consumers and US corporations are in strong health. That credit conditions remain really strong....
...Additional reporting by Joshua Franklin and Stephen Gandel in New York...
...Even president Franklin Roosevelt (a surprising opponent) described deposit insurance as “dangerous,” for in time it “would lead to laxity in bank management and carelessness on the part of both banker and...
...Additional reporting by Sujeet Indap and Joshua Franklin...
...“When that happens, we’re going to see credit costs go up, at least back to what we could call normalised levels.”...
...That’s the target of Valuable 500’s “Gen V” mentoring scheme, which pairs a senior executive with a young disabled employee....
...Special thanks to Rob Armstrong and Josh Franklin. Cheryl Brumley is the global head of audio. Thanks for listening. See you next week. [MUSIC PLAYING]...
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