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...Several pointed out that it has avoided the whopping big mistakes of rivals such as Wells Fargo and Citigroup (they all noted that the London Whale was not a good look)....
...Wells Fargo has named Doug Braunstein as a vice-chair. He has previously been a senior investment banker and executive at JPMorgan....
...Blackstone Mortgage Trust and KKR Real Estate Finance Trust, two of the biggest mortgage real estate investment trusts, have halted loans to any new borrowers....
...The move is the latest attempt by JPMorgan to beef up its legal wealth management business after two decades of trying to break the grip of Citi in New York, as well as that of Wells Fargo, which dominates...
...And don’t miss Antoine and Brooke’s profile of Ogunlesi, who rose to head investment banking at Credit Suisse before founding GIP in 2006....
...By contrast, JPMorgan Chase and Wells Fargo — the nation’s first and third-largest banks, respectively — each had about $40bn in unrealised bond market losses, while fourth-largest Citigroup’s paper losses...
...Well that’s all, folks. Thanks for reading, and from all of the team, we wish you a happy, healthy and prosperous 2024....
...The biggest loans are often taken out by consortiums and are held by groups of investors, as in commercial mortgage-backed securities....
...in 2006....
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...The Big Short movie chronicled short selling directed against US mortgage-backed securities while the Netflix documentary Skandal!...
...“Somalia is strategically very important for the stability, security and peace in the Horn of Africa, and the Arabian Gulf and the Red Sea as well,” he says....
...CFOs are, in some ways, a private equity variant of “collateralised debt obligations”, the bundles of mortgage-backed securities that only reached the public consciousness when they wreaked havoc during...
...In August Hipgnosis Songs Capital issued $222mn of asset-backed securities, or bonds that use song copyrights as collateral, to help finance its acquisitions....
...Some banks — such as Bank of America — have already started to take a more aggressive approach, using the excess cash to buy higher-yielding Treasuries and mortgage-backed securities....
...Some further tightening may well be needed, perhaps to around 4 per cent....
...Bank of America kept the roles combined after seeing off a substantial investor rebellion in 2015, while Wells Fargo in 2016 separated its chair and CEO roles following a fake accounts scandal....
...Rather than continuing to buy government bonds to the end of June, the Fed is now planning to cease purchases of Treasuries and agency mortgage-backed securities in early March, right around the time it...
...Defence and international commitments Our security at home depends on our security overseas, so I turn next to defence and other international commitments....
...The Fed has committed to buying Treasuries and agency mortgage-backed securities at that pace until it sees “substantial further progress” on dual goals of inflation that averages 2 per cent and maximum...
...Mortgages, especially government-backed mortgages, are closely tied to interest rates....
...In 2006, the well-connected Fink learnt that Merrill Lynch’s new CEO Stan O’Neal was open to the idea of selling the investment bank’s sprawling money-management arm....
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