Hints and tips:
...H&F has invested in business services companies such as advertising agencies, advisory firms and insurance brokerages for decades....
...Third, big banks including Wells Fargo and Citigroup have been scaling back their subscription line businesses, making them less likely to bid for these loans....
..., talent agencies and insurance brokerages....
...“As assets scale, headcount (and with it their cost base) tends to grow on a linear basis,” said a report last year by Goldman Sachs prime brokerage....
...Competitors in private equity as well as traditional insurers have noticed, replicating their own versions. And, increasingly, regulators and rating agencies are paying attention too....
...UK wealth manager St James’s Place has appointed Mark FitzPatrick as CEO, replacing Andrew Croft....
...Banks led by Goldman Sachs and JPMorgan Chase and including Citigroup, Wells Fargo, UBS and Deutsche Bank are arranging $8.4bn in loans to finance the deal, sources told the FT....
...Apart from that, here’s what else I’ll be keeping tabs on today: Results: Citi, JPMorgan Chase, Wells Fargo and BlackRock report. Read this preview of what to expect....
...They sell off an insurance company here and a brokerage business there. But for the most part, they’re still working within the confines of this unwieldy structure that was dreamed up by Sandy Weill....
...says Isabelle Scemama, global head of alternatives at French insurance group AXA....
...Campaigners say fuel financing is dominated by JPMorgan Chase, Wells Fargo, Citi and Bank of America — all of whom are members of the Net-Zero Banking Alliance....
...The deal has also created a new competitor to Wall Street’s so-called wirehouses, the brokerage and wealth management platforms run by Morgan Stanley, Bank of America, UBS and Wells Fargo....
...Ping An has Rmb63.1bn ($9.8bn) of exposure to the country’s real estate stocks across its Rmb3.8tn of insurance funds....
...Wells Fargo Sector: BANKS / HQ: SAN FRANCISCO, US Wells Fargo hoped for a fresh start after years of scandals when it appointed Charlie Scharf as chief executive in late 2019, but turnround efforts took...
...For Broad, the decade ended so well that the missed opportunity hardly mattered....
...He will be replaced by Benoît Ribadeau-Dumas, a former chief of staff to the French prime minister with no insurance experience....
...Brian Kleinhanzl, analyst at KBW, says JPMorgan, Bank of America, Wells Fargo and Goldman all have strategies to “develop these feeder systems for the wealth management businesses — they are all trying to...
...Travelers was itself a collection of merged businesses, including its eponymous insurance arm, the Smith Barney brokerage and the Salomon Brothers investment bank, and Citigroup went on buy more companies...
...Bank of America, Citigroup and Wells Fargo together provided another $1.2tn of lines, while Morgan Stanley and Goldman Sachs had a combined $260bn, according to recent filings with US securities regulators...
...brokerage....
...And yet SoftBank and an Abu Dhabi sovereign wealth fund are in talks to back the controversial UK government-led bid consortium, according to Sky News. 5....
...In October the company partnered with six banks, including Goldman Sachs, Wells Fargo and Citi, to relaunch the product with a lower yield of 2 per cent....
...Wells Fargo has hired Scott Powell, the chief executive of Santander’s US operations, to be the bank’s chief operating officer. More here....
...Yes, Wells has paid almost $3bn in fines — including the largest multi-state settlement on record in December — and admitted to problems spanning car insurance, wealth management and mortgages....
...A local credit co-operative sold her a $50,000 life insurance policy she didn’t need....
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