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Thursday, 19 October 2017

Christian Murray' s stories

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  • Top five to increase FICC dominance

    People & Markets | 26 April 2013

    Large fixed income houses are likely to increase their dominance in the market as higher capital requirements and ebbing flows prompt smaller players to pull out of the market, according to analysts at Deutsche Bank.

  • BofA Merrill underwhelms in fixed income

    People & Markets | 19 April 2013

    Bank of America Merrill Lynch posted a disappointing quarter for fixed income, currency and commodities trading in the first three months of the year, pulling down overall revenues and profit at the investment bank.

  • Goldman sparkles despite choppy market

    People & Markets | 19 April 2013

    Goldman Sachs reported strong first-quarter earnings, as its debt underwriting business generated record fees – offsetting a mediocre performance in fixed income, currency and commodities client execution.

  • Traders work at the Goldman Sachs stall on the floor of the New York Stock Exchange

    FICC slump set to hit US earnings

    People & Markets | 05 April 2013

    When the large US investment banks start to report earnings next week, their results are likely to look subdued compared with a year ago, when more than €1trn of cheap loans from the European Central Bank helped create a boon for fixed-income desks.

  • Robert Greifeld, chief executive of the Nasdaq-OMX Stock Market, attends a news conference at the Nasdaq Market site in New York

    Nasdaq buys eSpeed bond platform

    People & Markets | 05 April 2013

    Nasdaq OMX is to acquire a US Treasuries trading platform as a means to diversify its offerings away from equities.

  • The company logo of the Bank of America and Merrill Lynch is displayed at its office in Hong Kong

    BofA Merrill predicts IPO 'golden age'

    People & Markets | 28 March 2013

    Bank of America Merrill Lynch is hoping that a pick-up in its equity capital markets business will help offset an expected drop in revenues from the bank’s debt origination business over coming months, as a rotation into stocks kicks in.

  • Goldman avoids dilution after Berkshire deal

    People & Markets | 28 March 2013

    Goldman Sachs has entered into an agreement with Berkshire Hathaway that will protect its investors from a massive dilution.

  • Boards keep tabs on executive pay

    People & Markets | 28 March 2013

    Board members at US banks are starting to pay much closer attention to corporate governance issues when it comes to their chief executives and pay.

  • Credit Suisse lays off in rates

    People & Markets | 22 March 2013

    Credit Suisse has laid off several members of its New York sales and trading rates team, according to two sources at the bank. Senior government bond trader Jim O’Brien and head of US rates Peter Antico, as well as about eight other members of the New York rates desk were shown the door, the sources said.

  • P&M: Credit Suisse lays off around 12 from New York rates team

    Ticker | 19 March 2013

    Credit Suisse on Monday laid off the head of its New York rates trading team along with about a dozen traders and salespeople, according to two sources at the bank.

  • A view shows the Federal Reserve building in Washington

    US stress tests reveal vulnerabilities

    People & Markets | 08 March 2013

    The Federal Reserve’s latest round of stress tests showed that Morgan Stanley and Goldman Sachs were more vulnerable than peers with higher deposit levels

  • Nasdaq to break in to the private stock market

    People & Markets | 08 March 2013

    Nasdaq OMX is seeking to get into the red-hot market where privately held equities are traded, having entered into a partnership with SharesPost, a major player in this space, to establish Nasdaq Private Market.

  • Volcker puts a dent in risk taking

    People & Markets | 08 March 2013

    US banks continued to report a drop in risk-taking last year, as market volatility subsided and many cut back on bets in anticipation of new regulations designed to make the banking system safer.

  • Canadian banks continue to impress

    People & Markets | 01 March 2013

    Canada’s two largest banks posted strong earnings last week fuelled by strong contributions from retail and business operations, but their investment banking franchises had diverging quarters.

  • A Goldman Sachs sign is seen on the floor of the New York Stock Exchange

    Goldman Sachs to cut 1,600 jobs

    People & Markets | 01 March 2013

    Goldman Sachs plans to cut about 1,600 jobs across the world as part of its annual cull of underperformers, according to sources at the firm. Managers began notifying some staff last week, with more cuts expected during the course of March.

  • Banks under pressure to boost RoEs

    People & Markets | 15 February 2013

    Investment banks are likely to dump less profitable businesses as they come under renewed pressure from investors to boost often single-figure returns on equity, according to Goldman Sachs’ chief financial officer Harvey Schwartz.

  • Citigroup’s CEO Mike Corbat

    US banks play down stress tests

    People & Markets | 08 February 2013

    With the results of two US stress tests to be released next month, US banks are busy managing investor expectations.

  • Jefferies' global headquarters at Madison Avenue in New York City

    MBS traders braced for clampdown

    People & Markets | 01 February 2013

    Hedge funds, broker dealers and banks are bracing themselves for a regulatory clampdown in the trading of mortgage-backed securities, after the criminal indictment of a former Jefferies trader who allegedly misrepresented prices to clients.

  • Lisa Carnoy

    Carnoy bullish after taking sole charge at BofA Merrill

    People & Markets | 25 January 2013

    Bank of America Merrill Lynch’s decision to name Lisa Carnoy sole head of its global capital markets division following the promotion of her former co-head Alastair Borthwick to head the commercial bank has been welcomed by many of her colleagues.

  • Traders work at the Goldman Sachs stall on the floor of the New York Stock Exchange

    DCM surge helps triple Goldman profits

    People & Markets | 18 January 2013

    Fourth-quarter profits for Goldman Sachs grew threefold compared with a year earlier, as heavy cost-cutting and the highest revenues from its debt capital markets business in five years helped bolster the bottom line.

  • The entrance to JP Morgan Chase's international headquarters on Park Avenue is seen in New York

    JP Morgan posts record DCM fees

    People & Markets | 18 January 2013

    JP Morgan reported strong earnings for the fourth quarter, buoyed by record debt underwriting fees approaching US$1bn, as well as a boost from corporate lending and treasury services.

  • US underwriters expect mixed 2013

    People & Markets | 12 January 2013

    Debt capital markets bankers are uncertain whether they will be able to pull out another bumper year like they did last year, when fees jumped 25% over 2011.

  • Jes Staley

    Staley resigns from JP Morgan

    People & Markets | 11 January 2013

    James “Jes” Staley has resigned from his position as chairman of JP Morgan’s corporate and investment bank, in a move that came as little surprise to many in the industry after the former investment bank chief was seemingly sidelined in a company overhaul last July.

  • The entrance to JP Morgan Chase's international headquarters on Park Avenue is seen in New York

    Banking fees weakest since 2009

    People & Markets | 05 January 2013

    With the exception of DCM underwriters, most investment bankers are likely to be glad that 2012 was over.

  • Solid Q4 for Jefferies

    People & Markets | 04 January 2013

    Powered by strong fixed income trading results and debt underwriting fees, Jefferies reported strong fourth-quarter profits when it released its earnings late in December.

  • Too little to loan

    Too little to loan

    All Special Reports | 14 December 2012

    New capital and liquidity requirements under Basel III are likely to have all kinds of consequences – including a slowdown in lending across the spectrum. Banks must find new ways of drumming up capital and cleaning up their balance sheets.

  • The entrance to JP Morgan Chase's international headquarters on Park Avenue is seen in New York

    JP Morgan overhauls in corporate push

    People & Markets | 14 December 2012

    JP Morgan has made a number of changes to senior management at its corporate and investment bank. The bank created a new level of management that it hopes will help increase its corporate banking presence outside the US and boost overall revenues.

  • Too little to loan

    All Special Reports | 14 December 2012

    New capital and liquidity requirements under Basel III are likely to have all kinds of consequences – including a slowdown in lending across the spectrum. Banks must find new ways of drumming up capital and cleaning up their balance sheets.

  • Mixed quarter for US banks, FDIC reports

    People & Markets | 07 December 2012

    Driven by lower loan-loss provisions, US banks continue to rack up better quarterly income figures.

  • The entrance to JP Morgan Chase's international headquarters on Park Avenue is seen in New York

    JP Morgan makes key changes

    People & Markets | 07 December 2012

    JP Morgan, which combined its corporate and investment banking divisions in July, has promoted a number of senior level employees as part of its plan to merge the two businesses, according to an internal memo obtained by IFR.

  • A Royal Bank of Canada (RBC) sign is seen in downtown Toronto

    RBC reports a strong quarter

    People & Markets | 01 December 2012

    Royal Bank of Canada reported strong fourth-quarter earnings at its capital markets division, with markets and investment banking revenues surging on the back of a strong domestic economy and a buoyant US.

  • Mary Schapiro, chairman of the Securities and Exchange Commission

    Logjam seen at SEC

    People & Markets | 01 December 2012

    Controversial policies stemming from the Volcker Rule and Dodd Frank will be harder to enact at the Securities and Exchange Commission, after Mary Schapiro leaves as chairman on December 14.  And more than 50 rules relating to these banking regulations still need to be made.

  • US banks in limbo over Basel III

    People & Markets | 23 November 2012

    US banks have been left in limbo about proposed new rules on capital and liquidity as regulators have offered little indication as to when banks will have to comply after pushing back the January 1 start date earlier this month.

  • Deutsche Bank consolidates fixed income groups

    People & Markets | 17 November 2012

    Deutsche Bank is to combine its two fixed income businesses – currently split between its global finance and foreign exchange unit, and its rates and credit trading desk – into one, according to an internal memo seen by IFR.

  • Trading specialists from Jefferies work on the floor of the New York Stock Exchange

    Jefferies merger beefs up bank

    People & Markets | 16 November 2012

    Jefferies, the mid-market investment bank, is to merge with its largest shareholder in a deal that will strengthen the firm’s capital base, reduce its liquidity ratio and increase its opportunities to expand.

  • Stifel acquires KBW to boost FIG capabilities

    People & Markets | 09 November 2012

    Stifel Financial has entered into a definitive agreement to buy KBW, a middle-market investment bank with a specialised focus on the financial services industry.

  • Meagre bonus packages expected in US

    People & Markets | 09 November 2012

    Wall Street bonuses took a walloping last year and they are not expected to get much better this time around, according to a closely-watched study of pay at banks in the US.

  • Money market funds return to European banks

    People & Markets | 02 November 2012

    US prime money market funds have increased their exposure to eurozone banks for the third successive month, although analysts doubt they will return to the levels they were at prior to the sovereign crisis any time soon.

  • bank fees

    Fees out of line with proceeds

    People & Markets | 27 October 2012

    Some investment banks have a better knack than others for bringing in fees from clients.

  • UBS makes cuts, more expected

    People & Markets | 26 October 2012

    UBS is set to scale its operations back across the globe, with about 400 investment banking jobs to go over coming months, according to people at the firm.

  • A Goldman Sachs sign is seen on at the company's post on the floor of the New York Stock Exchange

    Goldman misses out on DCM rebound

    People & Markets | 20 October 2012

    Goldman Sachs failed to capitalise on a rebound in debt underwriting in the third quarter, going down as the only US investment bank not to post a quarter-on-quarter increase in fees earned from debt deals.

  • BofA gorges on DCM fees

    People & Markets | 20 October 2012

    Bank of America reported strong investment banking results in the third quarter, led by a boost in debt underwriting.

  • Wall Street still pays well

    People & Markets | 12 October 2012

    For those New York City bankers with a job, times have been pretty good. The average salary – including bonus – was US$362,950 in 2011, up 17% over the course of the past two years, according to an industry report put out by New York State that was based on the tax records of Wall Street workers.

  • Debt binge boosts JP Morgan

    People & Markets | 12 October 2012

    JP Morgan racked up its best quarter for investment banking fees in more than a year during the third quarter, as its debt capital markets team put deals together at a feverish clip, signalling a slight change in mood for the industry after a difficult 12 months.

  • Bank of America strikes settlement

    People & Markets | 05 October 2012

    Bank of America has reached a deal with a class of shareholders concerning the acquisition of Merrill Lynch, including a commitment to improve corporate governance.

  • A view shows the Federal Reserve building in Washington

    Banks eye boost from QE3

    People & Markets | 05 October 2012

    Large US banks are expected to experience a boost from the Federal Reserve’s third round of quantitative easing, after the central bank committed itself to buying US$40bn of mortgage-backed securities per month.

  • Traders await the Grupo Financiero Santander's first trade following it's IPO

    Mixed quarter for fees

    People & Markets | 29 September 2012

    Investment banks are struggling to stitch together equity capital markets deals as investors shy away from risk and channel their cash towards fixed-income offerings.

  • Spitzer rule creates new divide

    People & Markets | 28 September 2012

    Big investment banks have begun to prohibit their smaller peers from publishing research on companies they are jointly doing deals for, according to lawyers, in an effort to minimise the impact that allows boutiques to circumvent rules for bigger firms.

  • Jefferies looks forward, following tough quarter

    People & Markets | 21 September 2012

    Jefferies disappointed Wall Street with mediocre third-quarter earnings results last Thursday, prompting its executives to focus on how it has got off to a strong start in the early weeks of this quarter.

  • Steep learning curve for Goldman’s new CFO

    People & Markets | 21 September 2012

    Goldman Sachs made the first step towards hiring a new generation of leaders when it announced last week that long-time chief financial officer David Viniar was retiring and would be replaced by Harvey Schwartz, the global co-head of the Securities Division.

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