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Thursday, 19 October 2017

Philip Scipio' s stories

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  • Goldman, Morgan Stanley less reliant on trading for earnings win

    Ticker | 17 October 2017

    Morgan Stanley and Goldman Sachs posted solid third quarter results easily beating analysts’ expectations for the quarter as revenue from investment banking outperformed.

  • MOVES-RenCap takes two for emerging markets FICC

    Ticker | 17 October 2017

    Renaissance Capital hired Amir Zada as a managing director and head of special situations, fixed income commodity and currency sales focusing on Russia/CIS and frontier markets at its RenCap Securities unit.

  • Independent voices stand up to bond issuers

    Top News | 13 October 2017

    Independent research firms are carving out a lucrative niche in the US bond market with hard-hitting analyses that bolster investor resolve when it comes to aggressive bond terms.

  • ECM helps Citi, but FICC resumes freefall

    People & Markets | 13 October 2017

    Citigroup came within a hair of outperforming JP Morgan in equity underwriting in the third

  • MOVES-Houlihan hires two for dispute resolution group

    Ticker | 10 October 2017

    Houlihan Lokey hired Michael Hedden and Daniel Beaulne for its dispute resolution consulting practice.

  • Goldman may corner bitcoin market making

    People & Markets | 06 October 2017

    Goldman Sachs is weighing options for trading crypto-currencies, including bitcoin, as rivals continue to voice loud reservations.

  • Tax plan success may spur mega M&A deals

    People & Markets | 06 October 2017

    With US President Donald Trump’s tax plan finally making its way into the public sphere, a key stumbling block for large takeover transactions could fall away and create a beehive of activity.

  • Puerto Rico bondholders relent on recovery hopes

    People & Markets | 06 October 2017

    A few words from US President Donald Trump last week stripped away any expectation that holders of Puerto Rico’s general obligation bonds would still see a recovery of 50 cents or more on the dollar.

  • MOVES-Credit Suisse taps Mesny, Rubio-Alvarez to run EMEA FIG

    Ticker | 29 September 2017

    Credit Suisse named Max Mesny and Armando Rubio-Alvarez co-heads of the EMEA financial institutions group, replacing Eric Richard, who will become a vice chairman of the group and focus on strategic client coverage.

  • Puerto Rico

    Puerto Rico recovery plan miffs creditors

    Top News | 29 September 2017

    Puerto Rico is counting on US federal aid to rebuild after a massive hurricane ripped the island apart - but that could leave more than a few bondholders unhappy.

  • US banks may get two years between living wills

    People & Markets | 29 September 2017

    The eight largest US banks will get another year to rework their resolution plans, or living wills, to win approval of the Federal Reserve and the Federal Deposit Insurance Corp.

  • Greenhill with envy

    People & Markets | 29 September 2017

    Greenhill made an abrupt about-face from recent comments about its capital strength and last week unveiled an aggressive recapitalisation plan.

  • MOVES-Natixis hires ex-Deutsche Bank economist Lavorgna

    Ticker | 25 September 2017

    Natixis has hired former Deutsche Bank chief economist Joseph Lavorgna, naming him chief economist for the Americas.

  • Record investment banking for Jefferies

    People & Markets | 22 September 2017

    Independent investment bank Jefferies reported a record three months for investment banking and defied expectations with only a modest slide in third-quarter trading results.

  • The entrance to the Toys "R" Us Times Square store is seen in New York

    Playtime over for Toys 'R' Us

    Top News | 22 September 2017

    Toys ‘R’ Us has agreed a US$3.125bn debtor-in-possession financing as it seeks to restructure US$5bn of long-term debt.

  • Window closing to change US stress test for 2018

    People & Markets | 22 September 2017

    Hope is fading that the US Federal Reserve will make changes to its annual stress test of major banks in time for it to be used in 2018.

  • Hurricane tears at Puerto Rico bondholder recovery estimates

    People & Markets | 22 September 2017

    Hurricane Maria has devastated Puerto Rico, plunging the island into darkness, added to uncertainty about how restructuring of debt will play out, and left investors reconsidering recovery projections, according to restructuring advisers involved in the process.

  • MOVES-Credit Suisse taps Wortendyke to replace Douthit

    Ticker | 22 September 2017

    Credit Suisse tapped Jason Wortendyke to replace Jeff Douthit as co-head of its Chicago office. Wortendyke will also continue to be global co-head of the diversified industrials and aerospace and defense group. Wortendyke will work with Todd Noffke, who has been co-head of Chicago since 2011.

  • MOVES- Deutsche Bank hires ECM banker Smolkin from UBS

    Ticker | 21 September 2017

    Deutsche Bank named Justin Smolkin head of industrials, equity capital markets. Smolkin joins the bank from the ECM group at UBS. He will be based in New York and report to the co-heads of Americas Equity Capital Markets Jeremy Fox and Andrew Yaeger.

  • MOVES-King & Spalding hires ex-Deutsche Bank lawyer Walker

    Ticker | 20 September 2017

    Former Deutsche Bank global general counsel Richard Walker joined New York law firm King & Spalding as a partner in the special matters and government investigations group.

  • Jefferies

    Jefferies holds 3Q trading decline to 7%

    Ticker | 19 September 2017

    Independent investment bank Jefferies Group on Tuesday reported its third quarter revenues from trading were down only 7% at US$319.5m, a week after the largest US banks warned their trading revenues could be down as much as 20% in the quarter.

  • Canadian banks continue capital markets push into US

    People & Markets | 01 September 2017

    Canadian banks outperformed expectations in their latest financial quarter, for the fiscal third quarter ended June 30, with help from capital markets and expansion into the US, though some banks stumbled.

  • Bove leaves Rafferty Capital

    People & Markets | 01 September 2017

    Banking analyst Dick Bove has left Rafferty Capital Markets after the firm decided to get out of the brokerage business and focus on asset capital management and exchange traded funds, Bove told IFR.

  • Morgan Stanley tops activism defence

    People & Markets | 01 September 2017

    Morgan Stanley is the top adviser so far this year for companies coming under pressure from activist investors, a lucrative area of activity in which banks and boutique firms are building up.

  • MOVES-Bove leaves Rafferty Capital

    Ticker | 30 August 2017

    Banking analyst Dick Bove has left Rafferty Capital Markets after the firm decided to get out of the brokerage business and focus on asset capital management and exchange traded funds, Bove told IFR.

  • Bullish US bankers draw veil over Blue Apron

    People & Markets | 25 August 2017

    After a strong first half, the US IPO market has since hit a rut with two blockbuster IPOs, Blue Apron and Snap, blamed for slamming the door shut on a market halfway through what was expected to be a massive year.

  • Citi bolsters activism defence practice

    People & Markets | 25 August 2017

    Citigroup has lured Muir Paterson from rival Goldman Sachs in an effort to beef up its shareholder activism advisory practice.

  • Banking earnings from autos accelerate

    People & Markets | 25 August 2017

    It pays to bank big auto. Nearly a decade after the US auto industry was knocked flat on its back, culminating in the massive bankruptcies of General Motors and Chrysler, the sector is paying record fees to banks for deals across capital markets including debt, loans, equity raisings and M&A, according to data from Thomson Reuters.

  • MOVES-Citi taps two to run energy acquisitions group

    Ticker | 24 August 2017

    Citigroup named Matthew Brogdon and Bruce Cox co-heads of its energy acquisitions and divestitures group working out of Houston, Texas reporting to Stephen Trauber.

  • Elizabeth Duke to chair Wells Fargo

    People & Markets | 18 August 2017

    Wells Fargo tapped Elizabeth Duke to replace its outgoing board chairman Stephen Sanger in a leadership shake-up intended to break the grip of scandal that has seized the bank lately. She is the first woman to serve as chair of a major US bank.

  • Volatility bout fails to lift trading forecasts

    People & Markets | 18 August 2017

    A recent bout of volatility may have shaken up the staid VIX volatility index but it has done little to lift third-quarter trading, particularly in fixed income where revenue is expected to be down double digits compared with last year, based on analyst estimates.

  • Smaller banks feel equity trading squeeze

    People & Markets | 18 August 2017

    Small banks and brokerages scrapping for a share of equity trading revenue are finding it tougher to compete as large banks extend their dominance.

  • Greenhill hits a rough patch

    People & Markets | 18 August 2017

    Investment bank Greenhill is having a tough year. Assignments are down, earnings at the half-year stage were down and the stock price is hovering near a decade low. The firm’s rivals, Lazard, Evercore, Moelis, meanwhile are reporting record earnings and watching their shares hit fresh peaks.

  • MOVES-Baird hires Rogowski from KeyBanc unit

    Ticker | 14 August 2017

    Independent investment bank Baird hired Craig Rogowski as a director on its global technology & services team, working out of out of Silicon Valley, Calif., and focusing on the software sector.

  • MOVES-RBC co-head of FIG Wiant joins Lazard

    Ticker | 14 August 2017

    Lazard has hired Jerry Wiant as managing director in its North America financial institutions group covering depository institutions.

  • Underwriting bankers set for 10%-20% bonus spike

    People & Markets | 11 August 2017

    Bonuses for bankers in debt and equity underwriting could be up 10% to 20% heading into 2018, according to consultancy Johnson Associates.

  • Is scandal distracting Wells Fargo?

    People & Markets | 11 August 2017

    Wells Fargo is distracted. That’s the take of investment banking rivals hoping to take advantage and grab market share this year as the bank focuses on other problems away from its wholesale banking business.

  • Underwriting bankers on track for 10%-20% bonus spike

    Ticker | 10 August 2017

    Bonuses for bankers in debt and equity underwriting could be up 10%-20% heading into 2018, according to consultancy Johnson Associates.

  • PJT revenues soar as it builds in Europe

    People & Markets | 04 August 2017

    Boutique investment bank PJT Partners’ second quarter revenues soared 22% from a year ago to US$109.3m, in line with other smaller advisory firms that had a bumper quarter.

  • US regulator starts process to ease Volcker Rule

    People & Markets | 04 August 2017

    US banking regulator the Office of the Comptroller of the Currency has taken what many believe is the first step to curtailing the Volcker Rule ban on proprietary trading.

  • MOVES-Perella hires tech banker Richard Sherlund

    Ticker | 31 July 2017

    Perella Weinberg Partners hired ex-Goldman Sachs banker Richard Sherlund as a partner in its advisory business to enhance its technology franchise.

  • Moelis hires pair of tech bankers

    People & Markets | 28 July 2017

    Independent investment bank Moelis has hired two managing directors, Jason Hernandez in Boston focusing on the industrial technology sector and Jonathan Kaufman in San Francisco leading the FinTech group.

  • Takeover defence work drives boutique earnings

    People & Markets | 28 July 2017

    US independent investment banks saw revenue surge to record highs in the second quarter to easily beat expectations, driven by fees from defending firms from takeovers.

  • Citi stays cautious a decade after the crisis

    People & Markets | 28 July 2017

    Nine years after the crisis that put Citigroup flat on its back and nearly out of business, the US bank is taking a careful approach to risk that analysts fear may keep it from living up to its earnings potential.

  • MOVES-Jefferies hires ex-Goldman banker for derivatives trading

    Ticker | 26 July 2017

    Jefferies has hired former Goldman Sachs partner Peter Seccia as global head of equity derivatives.

  • MOVES-Deutsche Bank hires Kakuta for FIG

    Ticker | 25 July 2017

    Deutsche Bank hired Eri Kakuta from Goldman Sachs as a managing director and senior coverage banker in its financial institutions group.

  • Moelis logo

    Moelis sees second quarter revenue surge 31%

    Ticker | 24 July 2017

    Independent investment bank Moelis reported its best second quarter ever with revenue of US$172m, up 31% from the year ago quarter. The firm earned US$49.5m, or 57 cents a share, up 97% from last year.

  • MOVES-Moelis hires two M&A technology bankers

    Ticker | 24 July 2017

    Independent investment bank Moelis hired two managing directors, Jason Hernandez in Boston focusing on the industrial technology sector and Jonathan Kaufman in San Francisco leading the FinTech group.

  • MOVES-Citizens Financial hires Fogarty for healthcare banking

    Ticker | 24 July 2017

    Citizens Financial Group hired former Citigroup healthcare banker Laura Neenan Fogarty as head of its national healthcare banking group at its Citizens Commercial Banking division.

  • Morgan Stanley shows Goldman less is more

    People & Markets | 21 July 2017

    Morgan Stanley beat arch rival Goldman Sachs in fixed income trading for the second quarter in a row, posting revenue of US$1.24bn, down 4% from a year ago.

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