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Investment Banking and Brokerage

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  • 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.

  • FRANKFURT, Oct 28- Alexander Dibelius, one of Germany's most prominent investment bankers, is stepping down as country-head of Goldman Sachs and will be replaced by Wolfgang Fink and Joerg Kukies, according to an internal memo obtained by Reuters. Dibelius, who came to Goldman in 1993 and took the helm in Germany in 2002 after predecessor Paul Achleitner left for...

  • *Q3 net profit at 762 mln Sfr vs 737 mln Sfr in poll. ZURICH, Oct 28- UBS put aside 1.8 billion Swiss francs in the third quarter for potential legal costs and said it was talking to the U.S. Department of Justice about resolving an investigation into currency market rigging. The increase in legal reserves shows Switzerland's largest bank is struggling to move on from...

  • *Q3 net profit at 762 mln Sfr vs 737 mln Sfr in poll. ZURICH, Oct 28- UBS booked 1.8 billion Swiss francs in legal provisions for the third quarter, bulking up reserves as it discusses a settlement with U.S. prosecutors to a criminal investigation over alleged rigging of foreign exchange rates. Zurich- based UBS did not link the legal reserves to the forex probe, but said...

  • UPDATE 1-Schwab to offer free 'robo-advice' Monday, 27 Oct 2014 | 5:01 PM ET

    NEW YORK, Oct 27- Charles Schwab Corp confirmed on Monday that it will introduce free automated investment plans picked by computer algorithms in the first quarter of 2015.. Traditional brokerage firms, including Schwab and competitors such as Bank of America's Merrill Lynch and Morgan Stanley, typically charge 1 percent or more of clients' invested assets in...

  • LONDON, Oct 24- Another LME Week, the annual pilgrimage of the global metals industry to London, has come and gone. It is a time-honored tradition, and on the surface at least this one was no different from those of previous years. The champagne flowed as freely as ever at the cocktail parties hosted by Triland Metals and Mitsui Bussan Commodities at the Dorchester...

  • FORT LAUDERDALE, Fla., Oct 23- A key witness in the federal tax evasion trial of a top Swiss bank executive took the stand on Thursday to testify against his former boss, Raoul Weil, who is accused of conspiring to conceal up to $20 billion in U.S. taxpayers' assets in secret offshore accounts. The former head of the wealth management division for the Americas at UBS,...

  • UPDATE 2-Higher advisory fees drive Lazard profit beat Thursday, 23 Oct 2014 | 10:13 AM ET

    Oct 23- Investment bank and asset manager Lazard Ltd reported a better-than-expected quarterly profit as it earned more fees from advising on M&A deals amid a surge in cross-border transactions. German companies were at the forefront of a slew of large cross-border deals in September, such as the $17 billion takeover of U.S.-based Sigma-Aldrich Corp by...

  • Oct 23- Investment bank and asset manager Lazard Ltd reported better-than-expected quarterly profit and revenue due to a jump in M&A advisory fees and an increase in asset management revenue. Among the big deals Lazard advised on during the quarter were Siemens AG's $7.6 billion acquisition of oilfield equipment maker Dresser-Rand Group Inc and chemical...

  • ZURICH, Oct 23- Credit Suisse reported stronger-than-expected third quarter profits on Thursday, bolstered by its investment bank, which benefited from a rise in bond-trading and fees from the multi-billion dollar listing of China's Alibaba. This marks a return to profit for the Zurich- based bank after it reported its biggest loss since the financial crisis...

  • *China, HK fees account for 55 pct of AsiaPac region in 2014. HONG KONG, Oct 23- Private firms have overtaken state-owned companies this year for the first time as the biggest drivers of investment banking revenues in China- a sign of how Beijing's reforms are transforming private capital's role in the world's second-largest economy. Private firms are also...

  • Oct 17- Morgan Stanley reported an 87 percent rise in third-quarter earnings as the Wall Street bank's trading and wealth management businesses benefited from increased client activity. Morgan Stanley's shares rose 5.7 percent to $34.40 in premarket trading on Friday. The stable fee income Morgan Stanley receives for advising individuals on their...

  • Goldman Sachs 3Q EPS beats Street  Thursday, 16 Oct 2014 | 7:54 AM ET

    Marty Mosby, Vining Sparks, breaks down the big bank's quarterly numbers as shares drop after reporting Q3 results.

  • JGBs gain on global growth scare, yields at 1-1/2-yr low Wednesday, 15 Oct 2014 | 11:07 PM ET

    TOKYO, Oct 16- Japanese government bond prices nudged up on Thursday due to rising global growth concerns, pushing the benchmark 10- year yield to the lowest level in a year and a half. The move reflected flight-to-quality buying of bonds in the United States and Europe as investors grew wary of possible loss of momentum in the global economy.

  • Brokers stick to "wait it out" script as markets plunge Wednesday, 15 Oct 2014 | 4:45 PM ET

    NEW YORK, Oct 15- The stock market quaked on Wednesday after a week of tremors, but financial advisers and stockbrokers stuck largely to their scripts. "We've preconditioned people not to get spooked too much on short-term movement," Mike Frazier, president of Bedell Frazier Investment Counseling in Walnut Creek, California said Wednesday morning as the Dow...

  • The Tehran Stock Exchange is "the last, large untapped emerging market in the world", said Ramin Rabii, managing director of Turquoise Partners, a Tehran- based investment firm with around $200 million of assets under management. Talks between Iran and world powers in Vienna this week aim to reach a deal on Tehran's disputed nuclear programme.

  • We hire young kids to hack us: BlackRock CEO  Wednesday, 15 Oct 2014 | 7:11 AM ET

    We are spending a great deal of time ensuring our clients information is protected, says Laurence Fink, BlackRock chairman & CEO, discussing what his company is doing to protect itself from cyberattacks.

  • Don't believe AIG has a case: Fink  Wednesday, 15 Oct 2014 | 7:08 AM ET

    Laurence Fink, BlackRock chairman & CEO, shares his thoughts on former AIG CEO Hank Greenberg's lawsuit against the U.S. government and Lehman Brother's solvency.

  • Fed behind the curve: Fink  Wednesday, 15 Oct 2014 | 7:02 AM ET

    Laurence Fink, BlackRock chairman & CEO, shares his thoughts on the likelihood of additional QE by the Federal Reserve and why an increase in rates will help the economy.