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...A $111bn investment boutique owned by BNY Mellon is seeking seed capital from investors to enter the multi-manager hedge fund business dominated by the likes of US giants Citadel and Millennium....
...Nate Wuerffel, head of market structure at BNY Mellon and a former head of domestic markets at the New York Fed, says that if the reforms are well executed, “we could be in a world where 10 years from now...
...Earnings per share in BNY Mellon dropped 47 per cent in the final quarter of 2023 from a year earlier, but were up 38 per cent annually....
...Remember, the Covid-19 pandemic caused a crisis of almost every other kind, but big US banks didn’t collapse....
...After all, the money centre banks (which sponsored enactment of the FSIA), trust companies, and major law firms were all headquartered there....
...The Federal Deposit Insurance Corporation has a “misogynistic” and “insular” workplace whose chair may not be well suited to lead needed reforms, says a new report commissioned over complaints about widespread...
...“With the monies that have moved into cash, there is a high probability that some of that will stay in cash for much longer than it should,” said Sinead Colton Grant, chief investment officer of BNY Mellon...
...The US has eight G-SIBs: JPMorgan, Citigroup, Bank of America, Goldman Sachs, Morgan Stanley, Bank of New York Mellon, State Street and Wells Fargo....
...,” said Ben Slavin, global head of ETFs at BNY Mellon Asset Servicing....
...One of the US’s top banking regulators will release a report on Tuesday detailing complaints of years of workplace harassment at the Federal Deposit Insurance Corporation....
...” for a valid surety in New York....
...We’re sitting in a tiny bar in London’s Duke of York’s theatre, amid piles of plush chairs and bottles of water waiting their cue for opening night....
...This week’s newsworthy rate setters are the Bank of England and, to a lesser extent, the Reserve Bank of Australia....
...Shares of New York Community Bank plunged 40 per cent on Wednesday after a report that the bank was seeking to raise money to shore up its finances through a stock sale....
...The US bank did not specify what it would do with all of the proceeds but said in a statement that it would donate about $1bn in Visa stock to its charitable foundation....
...Fedspeak: Federal Reserve vice-chair Phillip Jefferson will participate in a moderated discussion at an event titled “Exploring Careers in Economics” hosted by the central bank....
...Bank of America’s profits fell 18 per cent in the first quarter, dragged down by a jump in potential loan losses and additional expenses tied to last year’s regional banking crisis....
...He added that the New York office will accommodate a staff of at least 30, led by portfolio managers....
...The Bank of England is expected to keep interest rates steady at a 16-year high of 5.25 per cent on Thursday but traders will be on the lookout for signs of a possible cut next month....
...The Bank of Canada’s next rate decision is on June 5....
...New York Community Banck is set to raise more than $1bn in a deal led by the investment firm of former Treasury decretary Steven Mnuchin aimed at shoring up its finances after more than a month of turmoil...
...A top US bank regulator is proposing new limits on big bank mergers, in the wake of the failure of Silicon Valley Bank and two other banks last year, and the recent market turmoil around New York Community...
...A series of weaker auctions in recent months has raised concerns about the large size of current Treasury auctions, and investors’ ability to digest the supply....
...“The end state of this project, after the transitions of assets in the coming months, will lead to broadly a 50-50 asset split for depositary and administration between State Street and BNY Mellon based...
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