Hints and tips:
...I don’t think what has happened [at Credit Suisse was] about [needing] more capital,” he added....
...On Monday it said it had agreed to offload a personal financial management division focused on the mass market....
...For more than a decade Citi has operated with two divisions: ICG and a consumer-focused division that includes Citi’s retail bank, credit cards and wealth management....
...A month later the New York-based firm said it had acquired private credit firm Iron Park, a business set up by Tripp Smith, a former Blackstone credit executive....
...During Keller-Sutter’s speech, she blamed the collapse of Credit Suisse on its management, while Jordan also discussed the fallen bank as part of comments on financial stability....
...Here’s more on the proposal that has spooked the asset management industry....
...US banking editor Joshua Franklin and US banking correspondent Stephen Gandel have written a full preview....
...In September, Discover agreed to improve its consumer compliance management system under a consent order from the FDIC....
...Delinquencies in credit card and commercial real estate loans were on the rise, the FDIC said, and were now at the highest level in almost a decade....
...In Europe, the implosion of Credit Suisse showed that even bigger lenders were not immune to turmoil....
...Goldman has earmarked its alternative assets business, which includes areas like private equity, private credit and infrastructure, as a priority for growth....
...team of private credit experts for his nascent investment business Corinthia Global Management....
...The two companies have also signed a long-term partnership that will see Great-West Lifeco’s parent, the Power Corporation of Canada, allocate $25bn to Franklin’s alternative investment funds, which had...
...SMITH BARNEY: Smith Barney. They make money the old fashioned way....
...Dean Maki, chief economist at Point72 Asset Management, highlighted the “offsetting forces” within the jobs report....
...“We took risk management seriously,” argued Becker. Senator Tim Scott of South Carolina, the top Republican on the banking committee, said it was “hard to believe” Becker’s defence....
...Jain, 53, began his career at Chicago trading firm O’Connor and Associates before joining Credit Suisse in 1996, where he worked his way up to global head of asset management....
...First Citizens Bank, which bought the portfolio from the Federal Deposit Insurance Corporation, negotiated a $16.5bn discount from a valuation supplied by the FDIC, equivalent to about 20 per cent, suggesting...
...But the Federal Deposit Insurance Corporation, advised by longtime investment banker and former Obama administration official Jim Millstein, became frustrated....
...Credit Suisse shares fell 8 per cent even after Thursday’s provision of a SFr50bn ($54bn) emergency credit line from the Swiss central bank....
...Additional reporting by Joshua Franklin in New York...
...That could hit banks with large asset management arms, or other divisions not directly tied to lending and trading, that in the past have not been factored into the bank’s capital requirements....
...Additional reporting by Colby Smith in Washington...
...strategy and risk management” than the agency had previously understood....
...US regulators identified “serious weaknesses” in Citigroup’s data management as part of a plan detailing how the bank could be wound up in the event of a crisis, in the latest regulatory headache for the...
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