LONDON, April 17- Barclays announced a number of promotions in its investment bank's management on Friday as it continues a review of the division that contributes about half of group profit. Felder, who joined Barclays from now-defunct U.S. investment bank Lehman Brothers in 2008, was previously co-head of securities.» Read More
SUNNYVALE, California— Yahoo co-founder David Filo is vying to rejoin the Internet company's board after an 18- year absence. The other nominees to the board are Charles Schwab, the founder of a stock brokerage that still bears his name, and H. Lee Scott Jr., the former CEO of Wal-Mart Stores Inc. Yahoo Inc. CEO Marissa Mayer is on Wal-Mart's board.
NEW YORK, April 16- Citigroup Inc, which aspires "to become the world's digital bank", will not webcast its annual meeting next week in St. Louis. Of the top six U.S. banks, only Citigroup and Wells Fargo& Co do not allow investors to listen to live audio from their annual meetings.
NEW YORK, April 16- Bank of America's wealth management businesses slowed in the first quarter, with profit at its Merrill Lynch brokerage and U.S. Trust private banking units slipping 6.5 percent to $729 million from $777 million in the last quarter of 2013..
The company raised about $163 million after its offering was priced at $25, below the expected price range of $26- $29 per share. Moelis, founded and led by veteran Wall Street investment banker Ken Moelis, offered 6.5 million shares of Class A common stock, lower than the 7.3 million it had initially planned.
*Credit Suisse Q1 net profit 859 mln Sfr vs poll 1.155 bln. ZURICH, April 16- Credit Suisse's said on Wednesday first-quarter net profit fell by more than a third due to a big drop in bond trading revenues, increasing pressure on CEO Brady Dougan to make deeper cuts to its investment banking business.
NEW YORK— Moelis& Co. priced its initial public offering at $25 per share, which was below expectations. The New York investment bank plans to offer 6.5 million shares to raise $162.5 million.
FRANKFURT, Germany— Swiss bank Credit Suisse says its net profit fell 34 percent in the first quarter, more than expected, as bond-market woes hurt earnings at its investment banking business. Profit dropped to 859 million Swiss francs from 1.303 billion francs in the same quarter a year ago.
*Goldman Sachs and Morgan Stanley lead underwriters for offering. April 15- Moelis& Co's initial public offering has been priced at $25 per share- below its expected range- a market source said, valuing the independent investment bank at about $1.29 billion.
April 15- Moelis& Co's initial public offering has been priced at $25 per share, a market source said, valuing the independent investment bank at about $1.29 billion. The company's IPO raised about $162.5 million at that price, which was slightly below the expected price range of $26- $29 per share.
*Bank faces backlash over bonuses at AGM April 24. LONDON, April 15- Barclays' Chief Executive Antony Jenkins is facing a high-wire act to overhaul the firm's investment bank without undermining a division that contributes about half of group profits. "The expectation is for something like a 10 to 20 percent cut," Chintan Joshi, analyst at Nomura, said.
BOGOTA, April 14- The rally in Colombia's capital markets is set to extend at least through 2014, possibly buffering the impact from monetary tightening in the United States but also leading to more volatility, analysts said.
NEW YORK— JPMorgan Chase, the biggest U.S. bank by assets, said Friday its first-quarter earnings fell 20 percent, driven by a decline in investment banking and mortgage lending. LOWER REVEUE: Revenue, after stripping out the effect of an accounting charge for credit losses, was $23.8 billion, down 8 percent from $25.8 billion a year earlier.
Gerard Cassidy, RBC Capital Markets, provides a sense of what to expect when banks begin to report quarterly earnings on Friday. The industry is in much better shape than people realize, says Cassidy, explaining why he likes the growth play on Citi.
*Nikkei falls to 1 1/ 2- week low ahead of BOJ policy announcement. *Exporters another loser as yen rebounds, Honda down 2.7 pct. TOKYO, April 8- Japanese shares dropped on Tuesday after a sudden tumble in U.S. tech stocks turned investors against risk, and as the Bank of Japan is expected to offer no new stimulus at its policy announcement later in the day.
SAO PAULO, April 7- New York- based investment bank Greenhill& Co Inc on Monday said it hired former Goldman Sachs Group Inc dealmaker Rafael Pereira, expanding its mergers and acquisitions unit in Brazil. Prior to Goldman, where he covered the insurance, financial services, healthcare and technology sectors, Pereira was a banker at Credit Suisse Group AG.
April 4- Moelis& Co, the advisory firm set up by veteran investment banker Ken Moelis, said it expects to price its initial public offering of 7.3 million Class A shares at between $26 and $29 per share, valuing the firm at up to $1.50 billion. The firm was founded in March 2007 after Ken Moelis left UBS.
TOKYO, April 4- The Nikkei average slipped from a three-week high on Friday on caution before the release of U.S. jobs data, but speculation that the Bank of Japan may adopt more stimulus next week underpinned shares of real estate and brokerage firms.
BUENOS AIRES, March 30- Argentina is closing in on a deal to receive around $1 billion in loans from investment bank Goldman Sachs and is in talks with other international banks about similar deals, local newspaper Pagina/12 reported on Sunday.
Avolon, which is backed by private equity firms Cinven Ltd, CVC Capital Partners Ltd and Oak Hill Capital Partners, as well as Singapore's sovereign wealth fund, has been interviewing investment banks in the last few weeks to hire underwriters for an IPO, the sources said on Thursday.
March 27- Ares Management LLC, the credit investment and private equity firm that has been pitched on the idea of an initial public offering for more than a year, is finally close to registering to go public, according to two people familiar with the matter. JPMorgan Chase& Co and Bank of America Corp will be among the underwriters, they added.