Hints and tips:
...JPMorgan Chase spent about a year discussing a possible deal with Discover Financial before Capital One agreed a $35bn bid for the credit card company, as the largest US bank pursued ways to get control...
...It is working on its approach with advisers from JPMorgan Chase, Citigroup and BNP Paribas, people close to the situation said. The banks declined to comment....
...Citigroup cut 5,000 jobs, Morgan Stanley shed 4,800, Bank of America 4,000, Goldman Sachs 3,200 and JPMorgan Chase 1,000. Collectively, the big Wall Street banks cut at least 30,000 staff in 2023....
...UBS executives are working to complete the merger of the bank’s legal entities with those of Credit Suisse by the end of May....
...University of California, San Diego, for example, returned a leading 11 per cent in fiscal 2023 by virtue of its nearly one-third allocation to the S&P 500....
...In today’s newsletter: How Buffett’s successors stack up Viking river boat cruise makes PE rich Can Buffett’s successors beat the S&P 500?...
...But banks led by JPMorgan Chase lobbied hard to underwrite a financing over the past four months....
...One ‘Larry of Arabia’ thing to start: BlackRock has struck a deal with the Saudi Arabian government to open a multi-class investment firm in Riyadh, anchored by a $5bn mandate from the kingdom’s Public Investment...
...The group was acquired by Japanese bank Mizuho last year for a modest $550mn, including debt....
...Lake, a Brit described by one colleague as “crazy smart”, has been with JPMorgan for 20 years with roles ranging from CFO and global controller for the investment bank....
...But as Gorman has turned Morgan Stanley over to successor Ted Pick, the division’s performance has struggled of late as investors have kept a greater portion of their money in cash because of rising interest...
...Chase as well as the benchmark S&P 500 index....
...It’s no coincidence that the S&P 500 is also having a stellar run....
...UK billionaire Mike Ashley faces off with Morgan Stanley A London court heard this week about the “horrific” demands made on an “upstart” entrepreneur who was subjected to “abuse” by their bank....
...HSBC’s chief executive Noel Quinn is to retire unexpectedly after five years, setting off a hunt for a successor at the UK-based bank....
...The gains were bigger than at rival banks JPMorgan Chase and Citigroup, which reported last week. Bank of America and Morgan Stanley report today....
...Amer Sports’ prospectus for its planned US listing is a good example. Goldman, Bank of America, JPMorgan Chase, Morgan Stanley, Citi and UBS are on the deal....
...Gorman’s announcement at the Morgan Stanley annual meeting earlier this year that he would retire kicked off a rare public run-off for one of the most coveted jobs on Wall Street....
...Dorrell and Vichie’s insight was shared by a handful of competitors at large investment banks, including Credit Suisse, Morgan Stanley and Goldman Sachs, which spurred the first wave of infrastructure investments...
...He has promised to step down by May 2024 and the bank’s board of directors, which Gorman chairs, is selecting his successor from a trio of internal candidates who each lead one of Morgan Stanley’s three...
...One thing to start: JPMorgan Chase paid longtime chief executive Jamie Dimon $36mn for 2023, up about 4 per cent from a year earlier and his biggest-ever pay packet at the US bank....
...EP’s working with JPMorgan Chase, Citigroup and BNP Paribas, while Royal Mail’s owner is working with Goldman Sachs, Bank of America and Barclays....
...Goldman Sachs chief executive David Solomon declared himself “pretty optimistic” about the prospect of more activity, with the bank and peer Morgan Stanley pointing to “green shoots” in its investment banking...
...Getting the licence means Citi will be able to pitch itself as a full-service bank to its mainland clients. Mainland listings, with their low fees, are not lucrative for foreign banks....
...Breaking that holding streak with the sale of 1mn shares, worth about $140mn, will catapult Dimon to the top of the table for stock sales by current US bank executives, a Financial Times analysis of data...
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