Gareth Gore' s stories
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UK financial sector jobs near crisis low
Banks, brokers and insurers in the UK are expected to cut their workforces for the fourth straight quarter over the coming three months, as ongoing deleveraging across much of the sector continues to feed through to the jobs market.
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RBS investment bank boss quits after a month
Rory Cullinan has resigned as executive chairman of RBS’s corporate and institutional bank just over a month after taking the job, following what insiders have termed a difference of opinion over strategy for the division.
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JP Morgan and BofA Merrill regain footing in bumper March
Goldman Sachs held on to its position as the top fee-earning investment bank in the year to date, despite losing momentum during a bumper month for new bond, equity and loan deals during March.
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P&M: Porat to leave Morgan Stanley for CFO job at Google
Ruth Porat is to step down as chief financial officer at Morgan Stanley to join Google, ending a 28-year-long career with the investment bank that included a stint running the financial institutions group.
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TLTRO gains traction with European banks
The European Central Bank’s targeted longer-term refinancing operations – a key part of its efforts to revive lending in the ailing eurozone – is beginning to gain traction with the region’s banks after a slow start to the programme last year.
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Credit Suisse overhauls global M&A leadership team
Scott Lindsay is to take on the role of chairman of mergers and acquisitions at Credit Suisse, relinquishing his role as global head of the division and with it day-to-day control of the team, according to an internal memo.
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European bankers still pessimistic on prospects
European banks are expected to axe more jobs and further slash their balance sheets over the coming year as continued industry restructuring and renewed pessimism about the economy take their toll, according to a survey of senior bankers in the region.
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Sberbank makes more cuts in London
Sberbank has cut four senior capital markets roles in its London office, just days after the Russian lender – which is prohibited from a range of market activity under US and European sanctions – announced sweeping changes to its corporate and investment banking business.
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Citigroup set for redundancies in EMEA
Citigroup is set to make a round of redundancies within its markets and securities business in the Europe, Middle East and Africa region, according to an internal memo sent to staff last week and seen by IFR.
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EBA scraps pass-fail thresholds on internal models
European banks won’t be subject to a simple pass or fail outcome when regulators in the region begin their annual comparisons of internal capital models later this year. This is part of a regulatory clampdown on a perceived gaming of industry rules.
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