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...Horwitz did not disclose the identities of the limited partners who provided its $100mn funding, but he said the majority came from institutional investors, plus a few family offices and individuals....
...Revenues at the private bank fell 17 per cent in 2023 to $2.3bn, and totalled $7.1bn across Citi’s wealth management division, down 5 per cent year on year....
...“It feels like a problem we’ll be working on for years,” Powell said about the exposure of regional banks to commercial real estate, particularly offices, that are less valuable than they were before the...
...Writedowns on its real estate investments and a slowdown in investment banking and trading have also weighed down on earnings....
...ICBC FS operates independently from ICBC in China, it added, and neither the head office nor the New York branch of ICBC itself were affected....
...Now the Securities and Exchange Commission, the Office of the Comptroller of the Currency and the Treasury are also involved, the person said....
...Can you sum up how the big banks did overall last year based on what we heard last week? Joshua Franklin So it really . . ....
...By the time Quarles left office in late 2021, he and his fellow regulators had agreed on a package that they estimated would result in “mid-single-digit” percentage increases for US banks’ capital requirements...
...Things came to a head on January 31 when NYCB reported an unexpected loss from loans tied to office buildings and slashed its dividend....
...buyback and a 50 per cent dividend increase — as well as a $1.5bn investment in Epic Games and the exclusive streaming rights to Taylor Swift’s Eras Tour movie, which grossed more than $260mn at the box office...
...They have also garnered the support of Republicans in the House, who called on the heads of the Federal Reserve, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency...
...The departure of a longtime lieutenant, Jim Esposito, known for keeping competing power centres in check, has also allowed simmering tensions to boil over in Goldman’s London office....
...as two years for the US office market to stabilise....
...Commercial property, and in particular mortgages on office buildings with low occupancy rates, have been a big concern for lenders since the Fed started lifting interest rates....
...The dust is yet to settle on the flexible working revolution, but there are more struggles ahead. Nathan PeartManaging Director, Major, Lindsey & AfricaLondon EC3, UK...
...On a call with analysts on Tuesday, Capital One founder and chief executive Richard Fairbank said the bank would submit an application in the next couple of months to the Federal Reserve and the Office of...
...Morgan Stanley reports its full-year results on Tuesday....
...the case, according to the decision on Friday....
...The comment period for regulators’ Basel III endgame proposal ended on January 16....
...The disillusionment has convinced many young Senegalese to embark on perilous journeys to Europe in search of a better life....
...Wells Fargo recently cited WeWork’s troubles among its reasons for adding a $20.5mn mortgage on 599 Broadway, a midsized office building in lower Manhattan, to its watchlist of loans at risk of missed payments...
...has tapped Joe Wall, a senior Goldman Sachs lobbyist, to head up its Washington government affairs as it strengthens its political team in the face of attacks from right-wing politicians, the FT’s Joshua Franklin...
...The two men also co-lead the investment bank’s Office of Applied Innovation, which was established last year to spot commercial opportunities related to shifts in technology and the geopolitical landscape...
...The neighbourhood where I bought my tiny flat — which later became my office — is on the eastern side of Paris....
...The Fulton County district attorney’s office said it was reviewing the decision....
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