Friday, 22 February 2019

Philip Scipio' s stories

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  • Equity trading surges to match FICC

    People & Markets | 18 January 2019

    A sluggish fourth quarter for bond trading turned into a rout in December as clients were spooked by the US Federal Reserve, leaving bond trading revenues for 2018 down from 2017 and banks thankful for buoyant equities trading.

  • M&A surge lifts investment banking past FICC

    People & Markets | 18 January 2019

    The largest US banks made more from advisory and underwriting in the fourth quarter than from fixed income trading for the first time at least since the financial crisis.

  • Goldman finds that nothing says sorry like cash

    People & Markets | 18 January 2019

    Goldman Sachs chief executive David Solomon apologised for the bank’s role in the scheme to defraud the Malaysian development bank 1MBD during an earnings call last week and set aside another US$516m in reserves for it and other legal issues.

  • Morgan Stanley

    Morgan Stanley FICC sinks RoE below 10%

    Ticker | 17 January 2019

    Morgan Stanley was hurt more than its peers by the shutdown of client activity in the fourth quarter that wreaked havoc on trading groups across Wall Street.

  • MOVES-BAML’s investment banking head De Giorgi steps down

    Ticker | 17 January 2019

    Bank of America Merrill Lynch’s global head of investment banking Diego De Giorgi is stepping down at the end of February, according to an internal memo obtained by IFR. The contents of the memo were confirmed by BAML spokesman John Yiannacopoulos.

  • Goldman Sachs sign

    Goldman's near-record M&A offsets weak FICC

    Ticker | 16 January 2019

    Goldman Sachs suffered its worst quarter in fixed income, currency and commodities trading since the financial crisis, with revenues in the fourth quarter tumbling 18% from the previous low just a year ago.

  • jpm

    JP Morgan posts rare miss on FICC slump

    Ticker | 15 January 2019

    JP Morgan posted a rare earnings miss with performance in the quarter being dragged down by a severe slow down in fixed income, commodity and currency trading in the final month of the fourth quarter.

  • Citigroup

    Citi suffers weakest FICC quarter in seven years

    Ticker | 14 January 2019

    Citigroup was slammed in the fourth quarter as revenue from fixed income, currency and commodities trading plummeted 21% from the year before, its weakest quarter for seven years.

  • Sears creditors view Lampert offer with scepticism

    People & Markets | 11 January 2019

    Sears Holdings chairman Eddie Lampert topped up his offer for the bankrupt US retailer with a revised takeover bid through his hedge fund ESL Investments of more than US$5bn for a majority of its best stores.

  • Pain at Deutsche, optimism at US banks

    People & Markets | 11 January 2019

    Investment bankers working at European firms are braced for a depressed bonus season after their US counterparts again took the share of the spoils last year. Deutsche Bank, in particular, looks likely to slash its bonus pool.