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Thursday, 14 December 2017

Christian Murray' s stories

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  • Banks grapple with demise of TruPS

    People & Markets | 10 July 2010

    US banks are grappling with a thorny problem – how best to replace their Trust Preferred Securities (TruPS), which lawmakers are phasing out as a component of Tier 1 capital.

  • RBC's earnings plummet on poor trading results

    People & Markets | 28 August 2010

    Royal Bank of Canada’s third-quarter earnings fell significantly as the company’s trading revenues plunged.

  • Goldman falls sick on FICC decline

    People & Markets | 22 July 2011

    The fixed-income, currency and commodities unit at Goldman Sachs, which has long been a reliable star, reported such mediocre results on Tuesday that it shocked investors. Goldman’s FICC revenue fell by 63% in the second quarter compared with the first, and it was the only bank to report such dire FICC trading results. While not great, JP Morgan had previously reported that its fixed-incom

  • BofA to relook at comp structure if trading stays low

    People & Markets | 23 July 2011

    While Bank of America Merrill Lynch’s trading results were not as dire as Goldman Sachs’, they were still lacklustre.

  • BofA Merrill safe despite asset sales

    People & Markets | 19 August 2011

    Bank of America has stressed that its investment banking platform remains safe, despite a flurry of deals to sell off parts of the firm as it seeks to boost its capital against the backdrop of a number of multi-billion dollar lawsuits.

  • Wells Fargo swoops on Citadel

    People & Markets | 19 August 2011

    Wells Fargo has jumped on the winding down of Citadel Securities by poaching 25 bankers – and their deals – in a move the US lender hopes will further boost its already-growing market share. The hires come after Kenneth Griffin, the founder of Citadel, decided to abandon his plans to build out an investment bank.

  • Goldman Sachs Chairman and CEO Lloyd Blankfein testifies in Washington in 2010

    Blankfein feels the heat, hires attorney

    Top News | 26 August 2011

    News that Goldman Sachs boss Lloyd Blankfein had hired a high-profile criminal attorney to fend off a Department of Justice enquiry initially caused alarm among investors that the bank’s chief executive might face charges.

  • Warren Buffett 2010

    Bank of Buffett rides to the rescue

    Top News | 26 August 2011

    Warren Buffett was quick to dismiss any comparisons to the financial chaos that followed the implosion of Lehman Brothers after his US$5bn deal to inject capital into an ailing Bank of America. “This is not 2008,” he insisted.

  • Goldman stung by enforcement action

    People & Markets | 02 September 2011

    The Federal Reserve Board has announced an enforcement action against Goldman Sachs, alleging that its former subsidiary Litton Loan had a deficient loan servicing process that led to the unnecessary foreclosure of many US homeowners. The action, announced on September 1, came on the same day that the investment bank completed its sale of Litton to Ocwen Financial.

  • FDIC objects to BofA settlement

    People & Markets | 02 September 2011

    The roadblocks in front of Bank of America’s highly touted US$8.5bn settlement with mortgage holders have continued to mount, after the Federal Deposit Insurance Corporation voiced its opposition to the deal.

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