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Investment Banking and Brokerage

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  • Morgan Stanley's oil trading desk, the largest of the five divisions within its commodities business, recorded net revenue of $676 million in 2012, half as much as 2008, according to a submission cited in the committee's 400- page report. And Goldman Sachs saw its global commodity net revenues drop to around $1 billion in 2012, less than a third as much as its...

  • NEW YORK, Nov 13- Morgan Stanley, the world's largest brokerage firm, fired the first shot in Wall Street's pay formula wars by telling brokers more of their pay will be deferred in 2015 than in the past. Brokers who produce $1.1 million to $1.65 million of revenue, slightly above average, will have 10 percent of their bonus deferred, the source said.

  • A tit for tat round of sanctions between the United States and Europe and Moscow over Russia's involvement in eastern Ukraine has seen capital raising by Russian companies forced to a virtual halt. But now sanctions prohibit Western investment banks from helping Russian companies deemed to be complicit in the Kremlin's Ukraine policy to raise capital and...

  • TABLE-Investment banking fees from Russia Thursday, 13 Nov 2014 | 2:14 PM ET

    LONDON, Nov 13- Investment banking fees from Russia have collapsed for Western banks in 2014 but fees from emerging markets as a whole are up 10 percent versus full-year 2013, ThomsonReuters data shows. For an article click Following is a table on fees earned by banks from Russian debt and equity capital markets, loans and merger& acquisitions this year and in...

  • Does Mr. Potter work at Goldman Sachs? Wednesday, 12 Nov 2014 | 4:30 PM ET
    Mr. Potter, whose ethics allowed for keeping Uncle Billy's misplaced money in 'It's a Wonderful Life.'

    Today marks a high point for banking careers while it also marks yet another major blow to banking's image. Can one make up for the other?

  • UPDATE 1-Insurer James River Group files for IPO Friday, 7 Nov 2014 | 7:23 AM ET

    Nov 7- James River Group Holdings Ltd, a Bermuda- based insurance holding company, filed for an initial public offering of common shares that would raise up to $288 million. Hedge fund D.E. Shaw& Co LP's affiliates own 72.6 percent of the insurer's Class A common shares, while Goldman Sachs Group Inc owns 26.3 percent. Keefe Bruyette& Woods, UBS Investment Bank, FBR...

  • Insurer James River files for IPO Friday, 7 Nov 2014 | 6:21 AM ET

    Keefe Bruyette& Woods, UBS Investment Bank, FBR Capital Markets and BMO Capital Markets are the lead underwriters for the offering, James River said in a regulatory filing.

  • NEW YORK, Nov 6- Investors and bankers have been lamenting the potential death of large cross-border healthcare mergers since the U.S. Treasury Department announced in late September that it would curtail the tax breaks from international deals designed to give U.S. companies a legal home in a low-tax country. Now many bankers and investors expect companies...

  • Nov 5- XPO Logistics Inc's quarterly revenue more than tripled, helped by acquisitions, an increase in freight volumes and tight capacity across U.S. truck and rail networks. XPO, which has been on an acquisition spree since Jacobs took over in 2011, said revenue from its freight brokerage business jumped about 240 percent to $518.7 million in the third quarter...

  • The Securities Investor Protection Corp said it is aware of two websites that it believes are falsely claiming to help protect U.S. and non-U.S. brokerage customers, whether by posing as SIPC or claiming its powers. SIPC said such "phishing" scams involve con artists who trick people into paying up-front fees, providing access to. "It seems to come and go in waves,"...

  • NEW YORK, Nov 4- At least three oil companies are still actively bidding for Citgo Petroleum Corp, the U.S. refining arm of Venezuela's PDVSA, even after the country's finance minister said that the auction was no longer going ahead, according to three people familiar with the situation. The investment bank hired by PDVSA to conduct the sale, Lazard Ltd, has not ended...

  • SAO PAULO, Nov 4- Grupo BTG Pactual SA missed third-quarter profit estimates on Tuesday as Latin America's largest independent investment bank grappled with an unexpected jump in taxes and a shortfall from proprietary investments that weighed on revenue. Net income at the São Paulo-based bank, controlled by billionaire financier André Esteves, declined...

  • FRANKFURT, Oct 31- Deutsche Boerse is counting on its new chief executive to raise both the profile and prospects of the German exchange operator, which has seen its efforts at strategic mergers repeatedly stymied. Appointed on Oct. 27, Carsten Kengeter, a former head of investment banking at Swiss lender UBS, will join Deutsche Boerse next April and become CEO on...

  • NEW YORK, Oct 30- A large group of creditors of MF Global Holdings Ltd's bankrupt brokerage unit will soon receive their first payout, as $518.7 million of checks start to be mailed out on Friday, the third anniversary of the company's Chapter 11 filing. James Giddens, the trustee liquidating the MF Global Inc brokerage unit, on Thursday said the payout to unsecured...

  • Oct 30- An early warning last week from LPL Financial Holdings Inc that unexpectedly high regulatory costs would hurt third-quarter earnings failed to placate investors on Thursday, as shares tumbled after the brokerage firm reported actual results. LPL Financial, the largest independent brokerage firm with almost 14,000 brokers that use its products and...

  • LONDON, Oct 30- The recent fall in oil prices will put a nascent recovery in oil sector mergers and acquisitions on hold, senior bankers told an industry conference on Thursday. Until around six to eight weeks ago, there was a sense that the market was recovering and a pickup in deal-making activity, Michael O'Dwyer, co-head of EMEA natural resources at Morgan...

  • $1.5M sent in error to manager (both are missing) Thursday, 30 Oct 2014 | 10:36 AM ET

    Credit Suisse wants a hedge fund to return $1.5 million, but the fund's manager is missing, the New York Times reports.

  • SYDNEY, Oct 30- Australia said on Thursday it will sell A $1.5 billion worth of shares in health insurer Medibank Private to retail brokers at home and in New Zealand, a fraction of what they had applied for, to give the public and institutions a bigger share. Finance Minister Mathias Cormann said retail brokers had applied to buy A $12 billion worth of shares in the...

  • NEW YORK, Oct 29- Brokerage and investment bank Raymond James Financial Inc said on Wednesday its revenues climbed to a record high $1.29 billion in the fiscal fourth quarter, up 14 percent from last year, while profits climbed more slowly than the previous quarter. Net income rose to $136.36 million, or 94 cents per share, for the fiscal fourth quarter ended Sept. 30,...

  • City of Buenos Aires mulls financing options Tuesday, 28 Oct 2014 | 5:53 PM ET

    NEW YORK, Oct 28- The city of Buenos Aires is sounding out foreign investors on short-term funding as it looks to refinance upcoming maturities, according to two sources with direct knowledge of the meetings. US dollars would allow it to build a buffer to meet international bond maturities without draining Argentina's dwindling foreign exchange reserves.