Hints and tips:
...The business is one of the growth areas identified by chief executive Jane Fraser, along with other Wall Street rivals that view wealth management as a way to meet investor appetite for stable, fee-based...
...Citi’s investment banking division, like rivals on Wall Street, has struggled because of a lack of deals, while its trading business recently reported a lacklustre second quarter....
...The departure comes after a report on Friday in The Wall Street Journal, confirmed by the FT, that Barrett had met Epstein after JPMorgan terminated its relationship with the late convicted sex offender....
...Sumitomo Mitsui Banking Corporation is planning to triple its stake in US investment bank Jefferies Financial Group, deepening ties between the Wall Street and Tokyo banks in an effort to compete with larger...
...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....
Vis Raghavan is quitting the world’s top investment banking franchise for the highest-profile vacancy on Wall Street
...The company’s shares fell as much as 31 per cent shortly after Wall Street’s opening bell and having disclosed the moves late on Thursday....
...Second, they determined that a Wall Street investment banker was the person to lead that transformation....
...The type of lending that Citi is backing away from is known as subscription-line financing, a niche but important business for Wall Street banks that want to develop deep ties with dealmaking clients, especially...
...JPMorgan Chase has stepped up efforts to lure New York’s top lawyers to its private bank, seeking to break rival Citigroup’s stranglehold on some of Wall Street’s wealthiest clients....
...But Wall Street history is littered with cautionary tales of overseas banks that sought to compete before retreating back to their home markets....
...Recent launches from JPMorgan and State Street Global Advisors have all reached the $10bn threshold in about two years, according to Morningstar....
Wall Street concedes it will have to pay more to depositors but cannot agree on when
...In a reference to Citi’s continued also-ran status on Wall Street, she added: “I know many of you share my frustration that we are seriously underestimated as a bank . . ....
...When they set up Plaid in 2012, initially in New York before later moving to San Francisco, it was shortly after the Occupy Wall Street movement....
...Citigroup and State Street last week both reported rising deposit costs because of pressure from institutional and corporate customers....
...In 2012, Bill Ackman convinced 3G Capital to merge with Justice Holdings, a UK special purpose acquisition company, sponsored by the hedge fund manager, Martin Franklin and Nicolas Berggruen....
...So he's also of this kind of Wall Street merger risk taking....
...Custody bank State Street, whose clients skew towards bigger institutions who often chase better savings rates, warned on Friday it was having to pay higher interest rates to customers to retain deposits...
...While last year he took 185 meetings, he said he had two-thirds that number in the first quarter of 2023....
...One such firm is US asset manager Franklin Templeton, which manages $1.4tn worth of assets....
...BlackRock, Franklin Templeton, T Rowe Price, State Street and JPMorgan Chase are among those working on new products aimed at helping retirees with what is known as “decumulation”, a process that economist...
...“We’re not naive enough to think that we can just go on . . . strolling down the street here,” he said. “We think everybody is coming after us.”...
...The California tech giant and Wall Street bank on Monday launched a new savings account yielding 4.15 per cent a year, having first announced the product in October....
...Not all Wall Street executives are predicting the Fed will hold firm on rates....
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