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Investment Bank

All articles tagged with #investment bank

sports7 months ago

San Jose Earthquakes Owner John Fisher Plans to Sell MLS Club

John Fisher, owner of the San Jose Earthquakes and MLB's Athletics, has hired Moelis & Co. to sell a controlling stake in the MLS club, with an official announcement expected soon. The sale comes amid the Athletics' relocation to Las Vegas and the MLS's ongoing efforts to increase league value and media revenue. The Earthquakes, valued at $600 million, have faced attendance and revenue challenges but remain a valuable asset due to local demographics and ownership interests.

via Sportico.com|
#investment-bank#john-fisher#mls
finance1 year ago

Deutsche Bank Announces Job Cuts and Payout Boost

Deutsche Bank is expected to offer low bonuses for 2023 as the investment bank suffered a €200m loss in the fourth quarter, with profits down 36% from the previous year. Despite hiring over 600 front office bankers and traders, compensation spending only increased by 6% year-on-year, leading to lower average pay per head. With a reputation for generous bonuses, employees are anticipating disappointing payouts due to the influx of new hires and the acquisition of Numis. Senior managers have not provided much insight, but the mood among employees is described as "sober" with low expectations for the upcoming bonuses.

via eFinancialCareers|
#bonuses#deutsche-bank#finance
finance2 years ago

Deutsche Bank Faces Bonus Warnings and Merger Talks

Deutsche Bank's CFO hinted that bonuses for 2023 might not be strong due to a difficult year and poor performance in areas such as M&A and fixed income trading. The bank's fourth quarter results are not due until February 1st, but it has already seen departures of rates traders, potentially impacting revenues. With inflation traders in high demand, Deutsche Bank may face challenges in retaining talent and maintaining its bonus pool, especially after previous cuts and heavy spending on hiring senior investment bankers.

via eFinancialCareers|
#bonuses#deutsche-bank#finance
finance2 years ago

Bank of America's Fourth Quarter Profit Slumps on Regulatory Charge

Bank of America's fourth-quarter earnings fell short of expectations, with a 56% drop in net income to $3.14 billion, partly due to charges including a $2.1 billion special assessment from the FDIC and a $1.6 billion charge related to the shift away from the LIBOR benchmark. Fixed-income trading revenue dropped 5.8% to $2.21 billion, while equities traders posted a surprise beat with $1.55 billion in revenue. The bank's net interest income fell 5% to $13.9 billion, and non-interest expenses rose 14% to $17.7 billion. Despite challenges, the investment bank's revenue rose 8.1%, driven by a boost from debt issuance.

via Yahoo Finance|
#bank-of-america#earnings#expenses
finance2 years ago

"Qatar's Sale of Barclays Shares Puts Pressure on CEO Amid Strategy Refresh"

Barclays is facing challenges as major investor Qatar Investment Authority reduces its stake by 45%, raising concerns about the upcoming strategy update. The bank plans to focus on generating higher returns without cutting jobs or reducing capital allocation to the investment bank, but skepticism remains. Barclays' shares have fallen 50% since 2016, and the QIA's sale is expected to drive them lower. In other news, a former Goldman Sachs analyst is facing insider trading charges for allegedly using confidential information to make profitable trades.

via eFinancialCareers|
#barclays#finance#goldman-sachs
finance2 years ago

China Investment Bank Implements Strict Measures to Curb Negative Research and Flaunting of Wealth

China International Capital Corp., one of China's largest investment banks, has issued a memo instructing its analysts to refrain from making negative comments about the economy or markets and to avoid displaying their wealth. The memo comes as Beijing tightens its control over well-paid bankers and urges employees to avoid wearing luxury brands or disclosing their compensation to third parties.

via Bloomberg|
#bearish-research#beijing#china
business2 years ago

CAA Unveils Bold Expansion Plans with New Investment Bank for Major Deals

Talent agency CAA has announced the launch of CAA Evolution, an investment bank and advisory firm focused on sports, entertainment, and media clients. The venture combines CAA's merchant bank, Evolution Media Capital, with M. Klein & Company, led by Michael Klein. CAA Evolution aims to provide insight and expertise in the rapidly evolving sports and entertainment landscape, serving mid-size companies as well as large-cap media companies. The company plans to offer services such as M&A, capital markets and IPO advisory, and activist investor disputes.

via Hollywood Reporter|
#advisory-firm#business#caa-evolution
business2 years ago

Barclays Surpasses Profit Expectations with Strong Consumer and Credit Card Business

Barclays reported a net profit of £1.27 billion ($1.56 billion) for Q3, slightly beating expectations, as strong results in its consumer and credit card businesses offset weakening investment bank revenues. The bank's CET1 ratio stood at 14%, and return on tangible equity was 11%. Group total operating expenses were down 4% YoY. Barclays' corporate and investment bank saw a decrease in income, while its consumer, cards, and payments business saw a revenue increase. The bank did not announce any new returns of capital to shareholders.

via CNBC|
#barclays#business#consumer-business
business2 years ago

Citi's Head of Investment Banking Paco Ybarra Departs After 36 Years

Paco Ybarra, the head of Citi's investment bank, is set to leave the company after a 36-year tenure. Ybarra, who has held various leadership positions at the bank, including overseeing its trading and treasury businesses, will depart at the end of March. His departure comes as Citi CEO Jane Fraser continues to make changes to the bank's senior leadership team.

via Financial Times|
#business#citi#departure
finance2 years ago

UBS Cuts Credit Suisse Staff, Shuts Houston Office

UBS Group is laying off employees from Credit Suisse's investment bank in New York and closing Credit Suisse's office in Houston, which used to lead business with the oil industry. The scale of the layoffs and specific businesses affected were not disclosed. UBS recently acquired Credit Suisse and has expressed its intention to reduce the risk of Credit Suisse's investment bank.

via Yahoo Finance|
#credit-suisse#finance#houston-office