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...In 2020, the bank lost out to Morgan Stanley in the $7bn bidding war to buy US investment manager Eaton Vance....
...The division has lagged behind rivals such as JPMorgan Chase, Morgan Stanley and BofA’s Merrill Lynch franchise, however....
Consulting group elevates Belgian Christophe De Vusser to succeed Manny Maceda
...“This is the biggest opportunity in global financials,” Lars Förberg, Cevian’s co-founder, told the Financial Times....
...Harding-Jones starts next week based in London and will report to Mark Fedorcik, co-head of Deutsche’s investment bank, according to a statement on Thursday....
...“I think it’s clear that [regulators] did not follow due process in the quantitative impact study and feasibility studies and so on,” said Kelleher, who was previously an executive at Morgan Stanley before...
...In 2020, Britain’s former top civil servant Mark Sedwill joined investment bank Rothschild & Co. Nomura has had a chequered past in investment banking....
...Goldman Sachs publishes results on April 15 while Morgan Stanley and BofA will do the same the following day....
...stephen.bush@ft.com...
ADM, Chemours, Mattel and NYCB are among groups admitting that weaknesses in controls delayed financial reports
...“[W]hile many factors weighed in Morgan Stanley’s favour, including extraordinary co-operation and remediation, the misconduct was not uncovered and voluntarily disclosed,” said Damian Williams, the US attorney...
...Additional reporting by Arash Massoudi, Stephen Morris and Ivan Levingston...
...Stephen Scherr has stepped down as chief executive of car rental chain Hertz....
...Goldman Sachs and Morgan Stanley, whose businesses skew more towards investment banking and money management, report earnings on Tuesday....
...Saperstein and Simkowitz were in the running for the top job but were instead named co-presidents of the firm....
...That effort has helped to boost the stock, which has outperformed most rival banks under his tenure except for Morgan Stanley....
...Hudson Bay Capital, Reverence Capital Partners and hedge fund Citadel are co-investing in the deal which closes on Monday....
...Its deal is the biggest private equity investment in the sector so far, and the firm’s retired partners are not pleased, the FT’s Stephen Foley reports....
...Earlier this year, it announced a plan to increase international co-ordination of its investments in technology....
...Goldman Sachs, JPMorgan Chase and Morgan Stanley won approval to take total or near-total ownership of their mainland investment banking operations in 2021, before Citi made its own application at the end...
...It also highlights the scale of the opportunity banks such as JPMorgan and Citi, as well as Goldman Sachs and Morgan Stanley, see in wealth management....
...Bain & Co offers the same, and BCG pays $2,000 less, according to Management Consulted....
...Other substantial sellers at the bank include commercial banking boss Douglas Petno, who has sold $34mn, and co-head of consumer banking Marianne Lake, who has sold $29mn....
...I’m gonna wait and buy it at the bottom’,” said Stephen Dyer, partner and managing director at consultancy AlixPartners in Shanghai. “It actually slowed down sales when that happened.”...
...Billionaires Ken Griffin, Stanley Druckenmiller, Paul Singer and Warren Stephens threw a combined $13mn behind Nikki Haley, while Jeff Yass spent about $5mn on Vivek Ramaswamy and Stephen Schwarzman gave...
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