The turmoil facing U.S. regional banks has prompted some lenders to step back, leaving space for investors such as asset managers, private equity (PE) funds and insurers to lend more.
The curious dance between markets and the Federal Reserve now underway – Wall Street on a roll even as Fed officials say the most aggressive interest rate-hiking cycle in decades may need to go further – can partly be traced to the communications debacle of the “taper tantrum” exactly 10 years ago.
JPMorgan Chase & Co executives expect the bank’s net interest income to rise by $3 billion this year on its takeover of failed First Republic Bank, which has made the biggest U.S. bank even bigger.
JPMorgan Chase & Co’s net interest income would rise by $3 billion this year due to its purchase of failed First Republic Bank, according to a presentation published ahead of its investor day on Monday.
Mediobanca on Monday said it has agreed to sell its bad loan acquisition unit for 100 million euros ($110 million), as Italy’s leading investment bank focuses on capital-light businesses ahead of unveiling a new three-year strategy.
Rothschild & Co said on Monday it had created a new private markets group within its wealth and asset management division, amid a broader push by finance firms to offer more private assets to wealthy individuals.
State Street Corp will offer retail fund investors proxy voting choices, the firm said on Monday, moving ahead of rivals with a strategy that could blunt criticism of index funds’ environmental, social and governance (ESG) policies.
UK-based money-transfer firm Wise Plc said on Monday its Chief Financial Officer Matthew Briers would step down from the role in March next year to focus on recovering from a biking accident in 2022.
Credit Suisse AG staff are preparing to sue the Swiss financial regulator over $400 million of bonuses that were canceled after the troubled lender’s rescue by UBS Group AG , the Financial Times reported on Monday.
