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Investment Banking and Brokerage

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  • *RBS to cut investment bank assets by over 60 pct. *Howard Davies confirmed as chairman. LONDON, Feb 26- Royal Bank of Scotland will drastically shrink its investment banking operations, pulling out of 25 countries across Europe, Asia and the Middle East and allowing the state-controlled lender to refocus on local lending in Britain.

  • SAO PAULO, Feb 25- Grupo BTG Pactual SA, Latin America's largest independent investment bank, missed fourth-quarter profit estimates on Wednesday after trading income fell short of forecasts and loan-loss provisions soared as a large client fell in arrears. Corporate lending, a key revenue line, fell to 97 million reais, the lowest in more than three years, as BTG...

  • Brokerage firms file an average of five reports each per year, a number that is "disconcerting" and "far too low" given the and industry's volume of transactions, said Andrew Ceresney, director of the SEC Division of Enforcement, in prepared remarks. The SEC is considering enforcement cases against brokerages whose reporting efforts fall short, Ceresney said at an...

  • JPMorgan to close 5% of bank branches Tuesday, 24 Feb 2015 | 2:51 PM ET

    The expense of teller transaction and popularity of online banking leads company to cut brick-and-mortar locations.

  • *RBS under pressure to focus on lending in Britain. LONDON/ HONG KONG, Feb 24- Royal Bank of Scotland will hand restructuring chief Rory Cullinan the task of overseeing another major scaling back of its investment bank, sources told Reuters, allowing it to focus on lending to British households and businesses. Chief Executive Ross McEwan said last year that he...

  • Stifel CEO: Yellen testimony critical  Tuesday, 24 Feb 2015 | 8:36 AM ET

    A lot of people are going to be looking at what the Fed will do, says Ronald Kruszewski, Stifel Financial CEO.

  • NEW YORK— Stifel Financial Corp. is buying rival financial services firm Sterne Agee for $150 million, boosting its presence in money management and fixed income. It's the latest move by Stifel, whose other large purchases include the investment advisory unit of Legg Mason last year, the investment bank KBW in 2013 and Thomas Weisel in 2010..

  • EU investment bank chief: red tape scaring investors Monday, 23 Feb 2015 | 8:01 AM ET

    BRUSSELS— The head of the European Investment Bank says that private investors are discouraged from putting money into major European Union infrastructure projects because of red tape and lack of budgetary reform. Werner Hoyer said Monday that when he asks potential investors what is scaring them off "they come with regulation, and they come with...

  • Feb 20- Two former Barclays stockbrokers can keep nearly $4 million in signing bonuses, an arbitration panel has ruled, handing down a rare rebuke of a controversial recruiting practice common among brokerage firms. Barclays had tried to claw back the bonuses from brokers Ileana Platt and Rafael Urquidi after the pair filed a claim with Financial Industry...

  • CHICAGO, Feb 19- The chairman of the U.S. National Futures Association, who led the regulator during broker scandals that rocked confidence in the industry, was re-elected on Thursday but told Reuters he plans to step down after that term ends. Hehmeyer, the non-executive director of Wedbush Futures, served as NFA chairman when broker Peregrine Financial Group...

  • LONDON, Feb 19- Britain's Financial Conduct Authority said on Thursday it will review competition in investment banking and corporate banking services, citing "unanswered questions about potential conflicts of interest and value for money in this market." Personal accounts and small business banking is already the subject to a full investigation by...

  • LONDON, Feb 19- Britain's financial watchdog will launch its first review of competition in investment banking and corporate banking services, saying the benefits of improvements could be high. The Financial Conduct Authority said that banks that were bundling and cross-selling their services could be making it difficult for new entrants to compete.

  • 'Grexit' risks rise but compromise seen still possible Tuesday, 17 Feb 2015 | 2:35 AM ET

    ATHENS, Feb 17- The chances of Greece being forced out of the euro zone have risen but a compromise agreement between Athens and its European partners is still possible, Greek media and investment banks said on Tuesday. Talks in Brussels between Greece and the rest of Dijsselbloem's Eurogroup broke down on Monday when Athens rejected a proposal to request a...

  • LONDON, Feb 16- Asset managers, often vocal campaigners against inflated city wages, have seen their own pay packets grow by a fifth since the 2007 financial crisis, even as banker pay dropped by a quarter, according to new analysis. Asset managers now earn on average $263,000 compared with $288,000 for investment bankers, an analysis of the public records of 12...

  • DB CEO: Liquidity could well be impaired  Wednesday, 11 Feb 2015 | 8:08 AM ET

    Anshu Jain, Deutsche Bank co-CEO, shares his thoughts on increased banking regulations.

  • DB CEO: Odds of short-term Greek deal good  Wednesday, 11 Feb 2015 | 8:05 AM ET

    Anshu Jain, Deutsche Bank co-CEO, discusses tension between Greece and the euro zone and whether a deal can be reached.

  • Morgan Stanley's wealth win  Wednesday, 11 Feb 2015 | 7:07 AM ET

    Greg Fleming, Morgan Stanley Wealth Management, says the U.S. has one of the best economies in the world and weighs in on how to profit from it.

  • Feb 9- Barclays Plc is planning to raise pay for junior investment bankers as the British bank seeks to retain talent, Bloomberg News reported, citing two persons familiar with the matter. Barclays' overall bonus pool is expected to shrink, Bloomberg reported citing another person familiar with the matter. European banks, including Barclays, Deutsche Bank,...

  • WASHINGTON, Feb 7- John Whitehead, a former senior partner and co-chairman of Goldman Sachs who helped make it a top-tier Wall Street firm and led its international expansion, has died, the investment bank said on Saturday. Whitehead joined Goldman Sachs in 1947 and worked his way to the highest rung of its corporate ladder before leaving after 38 years to become a...

  • Ex Goldman chair, Reagan official Whitehead dies Saturday, 7 Feb 2015 | 12:53 PM ET

    John Whitehead, a former co-chairman of Goldman Sachs who helped make it a top-tier Wall Street firm, has died.