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...Rohit Chopra, director of the Consumer Financial Protection Bureau, warned about the effects of large deals on competition and financial stability....
...The bank also bought most of failed US lender First Republic last year....
...The companies, whose plans were first reported by the Financial Times last year, share a set of officers, including two co-founders — chief executive Nathaniel Horwitz and publisher Sam Koppelman — general...
...Millennium gained 3.7 per cent in the first quarter of this year and has delivered average annual returns of about 14 per cent since inception, according to investors....
...NYCB bought the operations of Signature Bank, another lender that collapsed last year, in a deal arranged by the Federal Deposit Insurance Corp....
...“I have never lost money for those who invest in me and I am not starting now,” he told Axios earlier this month, when asked about a separate fundraising push by his company X.ai Corp....
...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...
...This was the first time he has sold shares in the bank other than for charitable or tax purposes. Jefferies said Handler, 62, was using the cash to buy a boat and pay tax obligations....
...JPMorgan Chase, Wells Fargo and Citigroup all reported first-quarter earnings on Friday and warned that the future looks a little rocky. I’m joined now by the FT’s Josh Franklin to talk about it....
...Goldman’s decision, which was first reported by Sky News, is expected to lead to similar shifts by other global banks....
...Goldman Sachs’ profits rose 28 per cent in the first quarter, as a strong performance at its hallmark trading business helped the Wall Street bank easily surpass analysts’ estimates....
...The start of its second decade as a public company, in the depths of the 2008 global financial crisis, paled in comparison to the first — and opened it up to a far harsher regulatory spotlight as it switched...
...The quarter was the first under Pick, whose background in investment banking and trading contrasts with predecessor James Gorman’s years in wealth management....
...Profits at Wells fell 7 per cent in the first quarter from a year earlier....
...Joshua Franklin First Republic was the second-largest bank failure in US history, and the biggest that we’d seen in the US since the 2008 financial crisis....
...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....
Investors including former Treasury secretary Steven Mnuchin stand to make hundreds of millions on bailout
...Sam Johar, chair of board advisory group Buchanan Harvey, said: “Mark Tucker can’t stay beyond 2026, so the board had to work out who was going first: Tucker or Quinn....
...An OCC spokesperson said the agency had “not received a filing from Capital One regarding Discover Financial Services”....
...Marc FilippinoJosh Franklin is the FT’s US banking editor. Thanks, Josh. Joshua FranklinThanks, Marc....
...“Of course, US leaders must always put America first, but global peace and order are vital to American interests.”...
...A generation of senior bankers struck out on their own in the years immediately before and after the financial crisis....
...Moody’s said NYCB faced numerous “financial, management and risk management” issues....
...The US had also suffered its first serious banking stress since the financial crisis, with a spate of regional banks collapsing in the first half of that year....
...Franklin expected cost savings from the Putnam acquisition of $85mn to $100mn for the nine-month period ended September 30, according to chief financial officer Matthew Nicholls....
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