Fourth-quarter fixed-income, currency and commodity trading results are likely to land like a lump of coal down a chimney, if results from Jefferies are any indication. The investment bank, now owned by Leucadia National, reported a 73% collapse in FICC as trading fell off a cliff.
Goldman Sachs has signalled that its ready to hand the reigns of power to a next generation, tapping John Waldron as the next co-head of investment banking, replacing 30-year veteran John Weinberg. Weinberg has been named a vice-chairman focused on firm-wide client development.
Loans for companies in bankruptcy could be in for radical changes if recommendations from the American Bankruptcy Institute earlier this month become law, and maybe even if they never become law.