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...At the same time, Biden has scaled up his fundraising efforts among Democrats on Wall Street to pay for his re-election campaign against Trump, in which he has a substantial financial advantage....
...“There has been a shift in thinking in Washington about bank mergers....
...A Goldman partner, he has been at the bank for 25 years, working mostly in London. Goldman confirmed Lievens’ relocation....
...Jefferies chief executive Rich Handler has sold $65mn of his stock in the Wall Street investment bank to buy a luxury yacht from longtime client Tilman Fertitta....
...“We’re in pretty good shape and so far it looks like that soft-landing type of scenario,” Dimon said. “But put me on the cautious side of that one.”...
...But on the whole, the banks have been pretty calm about what they’re seeing from a credit perspective....
...Profits may be hit by additional fees as part of the Federal Deposit Insurance Corporation’s plan to recover losses associated with rescuing Silicon Valley Bank and Signature Bank last year, most of which...
...“Where we stand today it’s clear that we’re in the early stages of reopening of the capital markets,” Solomon said....
...“We’re in pretty good shape and so far it looks like that soft-landing type of scenario,” Dimon said. “But put me on the cautious side of that one.” Read more here...
...Other western banks, including Citigroup, Italy’s UniCredit and Austria’s Raiffeisen Bank International, are still operating in Russia....
...In theory, that could give traditional banks more flexibility on non-competes than asset managers, private equity firms and hedge funds....
...The whole vision of the US regional banking model is that these local banks serve a purpose, because they’re in their communities in a way that just a kind of large scale bank just couldn’t possibly replicate...
...Goldman Sachs has agreed a deal to move its automated investing unit, Marcus Invest, to US “robo-advisor” Betterment, as part of the Wall Street bank’s efforts to pare back a strategy to cater to mass market...
...Part of the reason for the profit drop was last year’s banking turmoil — the Federal Deposit Insurance Corporation imposed a one-time charge on many US banks in order to pay for losses, which the FDIC’s...
...So they want the investment bank to do more with less resources. They’re not gonna give any more money, they’re not gonna put any more assets into that bank....
...JPMorgan Chase shares fell by the most in almost four years on Friday as an underwhelming outlook for its lending business overshadowed an increase in first-quarter profits at the US’s largest bank....
...In 2009, Mnuchin led a group of private equity investors that bought IndyMac, a mortgage lender that failed in the 2008 financial crisis, from the Federal Deposit Insurance Corporation....
...“In theory it [loss of competitiveness] is definitely a legitimate concern, in practice, I’m not sure you’re going to see it....
...The Federal Deposit Insurance Corporation on Thursday said the number of weak US banks had risen by eight to 52 in the final three months of 2023, the biggest jump since the demise of SVB....
...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 changes we’re making to our board and leadership team are reflective of a new chapter that is under way.”...
...The business, which has been central to the bank’s growth in recent years, was already in the sights of the Federal Reserve over money laundering controls....
...In a report to clients on Thursday, Glass Lewis came out against the ratification of the pay for Goldman’s top executives in a non-binding shareholder vote at the bank’s annual general meeting scheduled...
...Profits at JPMorgan Chase rose 6 per cent in the first three months of 2024 from a year earlier, despite the bank paying an extra $725mn charge by US regulators to cover the costs from last year’s regional...
...in its report on Wednesday, which analysed data from banks with at least $100bn in assets....
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