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Finance Industry

All articles tagged with #finance industry

business1 year ago

The Enigmatic Force Behind Litquidity: Unveiling Wall Street's Instagram Powerhouse

Litquidity, an anonymous Instagram account with over 800,000 followers, gained notoriety after publishing a slide deck by Goldman Sachs analysts, prompting the bank to raise entry-level salaries. The man behind Litquidity, known as "Lit," has kept his identity secret, leveraging his social-media fame into a podcast, investment portfolio, and email newsletter. Despite his success, some believe his anonymity may hinder his business expansion. After an investigation, it was revealed that Litquidity is run by Henry "Hank" Medina, a former investment banker who has used his Wall Street experience to build a business with multiple revenue streams.

via Business Insider|
#anonymous#business#finance-industry
businessfinance1 year ago

"JPMorgan's Leadership Shuffle: Potential Dimon Successors Named Co-CEOs"

JPMorgan Chase's recent leadership shuffle has positioned potential successors to CEO Jamie Dimon, signaling a potential changing of the guard at the top of the finance industry giant. The move comes as Dimon, who has led the bank for over 15 years, has hinted at his eventual retirement, prompting speculation about who will take the helm.

via Financial Times|
#businessfinance#dimon#finance-industry
finance2 years ago

Bank of America's $1.6 Billion Charge Amid Transition from BSBY Index

Bank of America took a $1.6 billion charge related to the industry's move away from the Libor benchmark, with the expectation of recouping it as income in the future. This non-cash charge, booked in the final quarter of 2023, will be recognized back into the company's interest income through 2026. The shift away from Libor led to the creation of alternative indices, and as a result, the bank had to make adjustments to its interest-rate swaps. This charge reduced the company's common equity tier 1 ratio by eight basis points, and Bank of America is set to report its fourth-quarter and 2023 results on Friday.

via Yahoo Finance|
#bank-of-america#charge#finance
economy2 years ago

Study Reveals High Taxes and Poor Business Climate Threaten NY's Status as US Finance Capital

New York's position as the nation's financial services capital is being threatened by high taxes and a poor business climate, leading to a decline in the population of high-income residents. A study by the Business Council of New York State revealed that states like Texas, Florida, North Carolina, and Georgia have been attracting talent and investment in the finance sector, while New York's employment growth has remained below national trends. The study emphasizes the need for New York to address its tax burden, business climate, and cost of living to maintain its position as a leader in finance and insurance. The state's financial services industry is crucial to its economy, with each employee generating nearly three additional jobs in other sectors.

via New York Post |
#business-climate#economy#finance-industry