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...Englander has built Millennium into a hedge fund that increasingly resembles the markets division of a global bank....
...for the bank ahead of a potential sale....
...report found deep divisions within the City of London....
...One person familiar with the restructuring said about 175 permanent roles were in jeopardy as a result of the changes, 150 of them in the risk division....
...The move is an edict from Andy Sieg, who runs Citi’s wealth management division and joined the company last year from Bank of America....
...Regulators agreed that a single person could run a division that straddles both the “ringfenced” bank, designed to protect depositors’ money from losses in trading, and the “non-ringfenced” businesses where...
...The suit, first filed by the Massachusetts Securities Division in late 2020, accused the brokerage of failing to put in place proper controls to safeguard inexperienced investors, and using gamification...
...Corinthia was publicly launched by Weightman only seven months ago to take advantage of the booming private credit market, which has grown to $1.7tn as many banks retreated from business lending after the...
...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....
...of banks with the central bank and depositors with the banks....
...Some businesses continued to struggle, including the wealth management division....
...Several banks, including Barclays and Wells Fargo, have partnered with asset managers to establish a toehold in private credit....
...The bank reported net income of $3.4bn in the first three months of the year, up from $3bn a year earlier and comfortably ahead of analysts’ estimates compiled by Bloomberg of $2.7bn....
...Daniel AronoffResearch Scientist, Massachusetts Institute of TechnologyCambridge, MA, US...
...Goldman’s asset and wealth management division reported revenue of $3.8bn, up 18 per cent from a year earlier....
...McCormick, now at merchant bank BDT & MSD Partners....
...The original Credit Suisse deal with Apollo led to the alternative investment manager taking on one of the Swiss bank’s most profitable divisions, but one that required a lot of capital....
...Citi’s banking division reported revenues of $4.6bn for 2023, down 15 per cent from a year earlier....
...JPMorgan, the largest US bank by assets, said on Thursday that Jennifer Piepszak and Troy Rohrbaugh would take over as co-heads of the commercial and investment banking division....
...Barclays announced new management for most of those divisions on Tuesday, with the investment bank being co-led by four people....
...The former head of Credit Suisse’s wealth management business, Francesco de Ferrari, has become the latest executive of the fallen bank to leave UBS....
...The intervening years have seen a vast expansion of the trading division, with the investment bank capturing significant market share amid the retreat or demise of its main European rivals....
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