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...“I don’t think you’d ever know that it was him behind Litquidity, even if you met him or he told you point blank,” said friend Waylon Chin, whose $1,000 beige Loro Piana loafers Medina skewered this summer...
...Jefferies has named Philippe Drouin as its Emea head of consumer food and beverage. He was previously UBS chair of global consumer and retail....
...“Whenever people left they’d try to get Hank’s folder to take wherever they were going.” “You could tell he was on to something even before he started the account....
...It was founded in 2015 by Bank America, Citigroup, Jefferies, Morgan Stanley and UBS, and generated close to $100mn in revenue in 2023, through selling to buyside investors and corporate clients....
...Here, for the sake of variety, is Jefferies’ version of the watch-flipper price tracker....
...Digital operator, Victor Gautier at D-Factory. Stylist’s assistant, Maëlys Annovazzi. Set designer’s assistants, Lola Faraud and Thomas Jardin. Production, Rita Bao at OOO Paris...
...We’ve seen some beautiful cars – stunning Morgans or some kind of ‘mongrel’ that’s been in the father’s garage for however long that he’s played around with.”...
...The IEA predicts oil demand will grow by 1.2mn b/d, about half the pace of 2023, while Opec believes demand growth will be higher at 2.2mn b/d....
...Being big also means that necessary investments, in new models and R&D, are less of a drag. Capex and R&D will come in at less than 7 per cent of sales, says Philippe Houchois at Jefferies....
...“This [parks and experiences] business remains the earnings growth anchor for the company,” Morgan Stanley says. “We are bullish on its global growth potential in the near and long term.”...
...That is one reason global investors steer clear of Europe’s banks, thinks Joseph Dickerson at Jefferies....
...But if you’d bought the dip each time a 25 per cent decline happened in the Brazilian, Italian, Hong Kong, Argentinian or Russian markets, you’d likely be cursing yourself....
...This year SMFG said it planned to triple the size of its stake by buying Jefferies shares on the open market....
...“These megadeals tend to come in sets,” said Pete Bowden, global head of energy banking at Jefferies....
...Here’s a chart from Jefferies that shows the reported private equity performance of the biggest US firms, relative to what public markets have done (zoomable version)....
...Jefferies has hired Morgan Stanley’s global head of gaming and lodging investment banking Michael Bluhm, Bloomberg reports. Freshfields has appointed Gil Perez as global chief innovation officer....
...About 55 per cent of the revenue Jefferies made in its most recent quarter went on pay and benefits. The figures at Goldman Sachs and Morgan Stanley are about 33 per cent and 44 per cent, respectively....
...A spin-off of its consumer care division has been raised for next year, which analysts at Jefferies estimate could be worth between €18bn and €20bn....
...Jefferies’ Agarwal declined to comment on Jefferies’ fees or profitability in India but dismissed the idea that lending was the only way to profit....
...But I’d argue something close to the exact opposite: if Morgan Stanley is right that “index concentration has historically proved self-correcting” — which I think is accurate — then why do we need an Apple...
...“You’d turn up for a date on a Bo and not feel like a dork,” Morgan assures me, and he may well be right....
...R&D costs easily run into the hundreds of millions of euros....
...If successful — a one-in-five chance — it could have $10bn peak sales, forecasts Jefferies....
...Morgan EM Local Government Bond UCITS ETF, ticker SEML)....
...“Higher-income households will not be falling off a cliff, but they will start to become more cautious,” said Morgan Stanley’s Wolfe....
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