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Investment Banking and Brokerage

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  • TORONTO, July 2- Royal Bank of Canada was the top adviser on Canadian equity issues in the first half of 2015 as acquisitions and the energy industry's need to strengthen balance sheets fueled record high deal flow, according to data from Thomson Reuters. The investment banking units of Bank of Montreal and Canadian Imperial Bank of Commerce rounded out the top...

  • ISTANBUL/ LONDON, July 2- Dutch lender ING Group is set to win the auction to buy HSBC's Turkish business, people familiar with the matter said on Thursday. Four people familiar with the situation said HSBC had narrowed down the field to one suitor, and two of the sources said that was ING, though they added a deal had yet to be finalised. ING's existing Turkish bank has...

  • NEW YORK, July 1 (Reuters)- U.S. commodities brokerages- a key focus of reforms designed to make the financial system safer- are increasingly struggling to eke out a profit, spurring many firms to think about leaving the business, or trying to boost commissions. The vanishing FCMs are one way the futures trading business is changing in the United States.

  • LONDON/ HONG KONG, June 30- Money raised in global equity capital markets rose in the first half of the year to top $500 billion, but bankers' fees fell as secondary share sales supplanted lucrative stock market listings as the dominant deals. Initial public offerings had reigned supreme in the first half of last year, but they dropped by 18 percent to $96.8 billion...

  • LONDON/ FRANKFURT, June 29- Henrik Aslaksen, global head of mergers and acquisitions at Deutsche Bank, is to leave the company, two sources familiar with the matter said on Monday. Aslaksen had been at Deutsche Bank since 2002, according to his LinkedIn profile. Deutsche Bank declined to comment.

  • June 26- Digicel Group Ltd, the Caribbean telecommunications company that sponsors sprinters Usain Bolt and Shelly Ann Fraser-Pryce, filed for an initial public offering of Class A common stock. The company, founded by Irish billionaire Denis O'Brien, said J.P. Morgan, UBS Investment Bank and Citigroup were among the underwriters for the IPO.

  • June 26- Digicel Group Ltd, which offers communications services in the Caribbean and South Pacific regions, filed with U.S. regulators on Friday to raise up to $200 million in an initial public offering of Class A common stock. J.P. Morgan, UBS Investment Bank and Citigroup were among the underwriters for the IPO, the company told the U. S Securities and Exchange...

  • This is why Guotai Junan scored a stellar debut Thursday, 25 Jun 2015 | 9:31 PM ET
    This is why Guotai Junan scored a stellar debut

    Francis Lun, CEO of GEO Securities, says the "herd mentality" of Chinese investors is driving up the stock of Guotai Junan Securities in its market debut on Friday.

  • UPDATE 2-JPMorgan's Jimmy Lee, adviser on megadeals, dies Wednesday, 17 Jun 2015 | 4:04 PM ET

    June 17- Jimmy Lee, one of JPMorgan Chase& Co's most senior investment bankers, died on Wednesday, the bank's chief executive said in a statement. Lee, a vice chairman in the investment banking group, advised some of the world's biggest companies on deals, including the merger of United Airlines and Continental Airlines to form United Continental Holdings Inc, the...

  • Senior JPMorgan investment banker Jimmy Lee dies Wednesday, 17 Jun 2015 | 2:39 PM ET

    June 17- Jimmy Lee, one of JPMorgan Chase& Co's most senior investment bankers, has died, Chief Executive Officer Jamie Dimon said in a statement on Wednesday.

  • June 16- Investment bank Jefferies Group LLC, owned by Leucadia National Corp, reported a 2.5 percent fall in quarterly profit as a prolonged slump in its bond trading business more than offset a rise in investment banking revenue. Jefferies, which kicks off the reporting season for investment banks, is often viewed as an indicator of the performance of Wall...

  • *HSBC joins European banks shrinking their investment banks. *New Deutsche Bank, Credit Suisse bosses set to take action. But others, like Deutsche Bank, may face tougher questions: if investment banking is not their strength, what is?

  • Richard Cunniffe, who worked at Chatsworth Securities LLC in Greenwich, Connecticut, secretly pleaded guilty on May 12 in Manhattan federal court to charges including securities fraud, records show. Prosecutors say he has been cooperating since March 12 in an investigation that led to charges last month against Sean Stewart, a former managing director at...

  • LONDON, June 11- JP Morgan has hired James Janoskey, Credit Suisse's European Energy Group head, to lead its oil and gas team in Europe, the Middle East and Africa, according to a memo seen by Reuters. Janoskey has over eighteen years of advisory and capital markets experience and was also Credit Suisse's global co-head of upstream. A spokeswoman for JP Morgan...

  • REUTERS SUMMIT-Regulators close in on bond-markup rules Wednesday, 10 Jun 2015 | 3:34 PM ET

    NEW YORK, June 10- U.S. securities industry regulators are close to proposing final rules requiring brokerage firms and bond dealers to disclose how much they mark up the price of most bonds they sell to retail customers. The controversial rules, proposed in November by the Financial Industry Regulatory Authority and the Municipal Securities Rulemaking...

  • LONDON, June 10- HSBC's investment bank could shed more than a fifth of its clients and plans to reduce its credit and interest rates businesses by $100 billion over the next two years in its bid to improve profitability. Under a strategic shift announced on Tuesday, HSBC said it will reduce the assets at its investment bank by a third, or $140 billion, which will...

  • *Half job cuts to come from sale of Brazil, Turkey businesses. HONG KONG/ LONDON, June 9- HSBC pledged a new era of higher dividends on Tuesday, laying out plans to slash nearly one in five jobs and shrink its investment bank by a third to combat sluggish growth across its sprawling empire. HSBC will cut its assets by a quarter, or $290 billion on a risk adjusted basis, by...

  • Bove: Investors missing 'tremendous' value in banks Tuesday, 9 Jun 2015 | 7:43 AM ET
    Richard Bove of Rafferty Capital Markets.

    Low interest rates and concerns about future litigation are no reason to turn a blind eye to bank stocks, Dick Bove tells CNBC.

  • *Half job cuts to come from sale of Brazil, Turkey businesses. HONG KONG/ LONDON, June 9- HSBC pledged a new era of higher dividends on Tuesday, laying out plans to slash nearly one in five jobs and shrink its investment bank by a third to combat sluggish growth across its sprawling empire. It will cut its assets by a quarter, or $290 billion on a risk adjusted basis by 2017,...

  • *Half job cuts to come from sale of Brazil, Turkey businesses. HONG KONG/ LONDON, June 9- HSBC will shed almost 50,000 jobs and take an axe to its investment bank, cutting the assets of Europe's biggest lender by a quarter in a bid to simplify and improve its sluggish performance. The cuts will leave HSBC with about 208,000 full-time equivalent staff by 2017, down from...