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Investment Banking and Brokerage

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  • Most of Bill Gross's Janus money came from... Thursday, 8 Jan 2015 | 6:49 AM ET
    Bill Gross during CNBC interview

    More than 60 percent of the money raised by Bill Gross for Janus Capital came from a Morgan Stanley wealth management office.

  • Jan 7- More than 60 percent of the roughly $1.1 billion raised by Bill Gross for Janus Capital Group Inc came from a Morgan Stanley wealth management office in California, the Wall Street Journal reported on Wednesday, citing industry executives who have viewed confidential brokerage data. The wealth management office in La Jolla, California, which employs one...

  • Jan 7- More than 60 percent of the roughly $1.1 billion raised by Bill Gross for Janus Capital Group Inc came from a Morgan Stanley wealth management office in Southern California, the Wall Street Journal reported, citing industry executives who have viewed confidential brokerage data. Bill Gross left PIMCO to join Janus Capital in September.

  • 2014 marks top year for M&A since financial crisis Friday, 2 Jan 2015 | 5:46 AM ET

    Deals worth nearly $3.5 trillion were announced, a performance favored by low interest rates and high stock prices. NYT reports.

  • Breaking up (banks) is bad to do: Siegel Tuesday, 30 Dec 2014 | 9:28 AM ET
    Jeremy Siegel

    Firms want to work with big-name banks and will take their business to foreign institutions if the U.S. broke up banks, Jeremy Siegel said.

  • 2015: The year of Elon Musk and mobile pay? Sunday, 28 Dec 2014 | 8:35 AM ET
    Wendy's mobile payment app for iPhone

    Mobile payments and Tesla founder Elon Musk are among trends and innovators poised for a breakout year in 2015, one expert says.

  • HONG KONG, Dec 25- Chinese investment banks have awarded pay rises to their staff for the first time since the 2008 global financial crisis, buoyed by a surge in China- related deals, but salaries and bonuses still trail far behind those paid by Western banks. "This is the first time since 2009 we have seen an increase of base and total compensation," said Maggy Fang,...

  • LONDON, Dec 23- Investment bankers working on corporate takeovers and share issues can expect good news on bonuses after a buoyant year when they return from the holidays, but bond and currency traders face lower payouts. "We're seeing bonus pools on average up by between 5 and 10 percent on 2013 numbers, but that's massively differentiated across different...

  • NEW YORK, Dec 23- In December 2013, Hanmag Securities Corp, a small South Korean brokerage firm, lost 46 billion won in a day after a stock option trading algorithm went bad. It was a fatal blow for a company that had just 15 billion won of capital- Hanmag went bust. During the financial crisis, regulators were reluctant to let wobbly traders such as Bear Stearns go bust,...

  • *China reforms, Australia state sales to drive 2015 growth. Non-state companies from China, including Fosun International and Haitong Securities, have sealed a series of outbound deals this year, a marked change from past years when state-owned enterprises dominated China's mergers and acquisitions. "What we are seeing is companies that haven't been on the...

  • HONG KONG, Dec 22- A month after China opened up its equity markets in a landmark trading link with Hong Kong, demand has been subdued and the bulk of activity has come from short-term speculative investors. The authorities had hoped mutual and pension funds and private banks would form the bedrock of the Shanghai- Hong Kong stock connect. "We are not participating...

  • NEW YORK, Dec 17- AdvisorHUB, a year-old gossip and news website for the brokerage industry, has become such a part of brokers' daily reading routine that some call it the " New York Post of financial news." It has posts that range from subjects like what the biggest brokerages are offering new hires to a rumor from readers alleging that Bank of America Corp's Merrill...

  • NEW YORK, Dec 18- Goldman Sachs Group Inc has promoted John Waldron to co-head of its investment banking business, replacing John S. Weinberg, a vice chairman whose family has been in the senior echelons of the investment bank since the 1920 s. Waldron, 45, will lead the investment banking business alongside existing co-heads Richard Gnodde and David Solomon.

  • NEW YORK, Dec 18- John S. Weinberg, whose family has been in the senior echelons of Goldman Sachs since the 1920 s, is moving from his position overseeing the investment banking division to a firmwide client development role, the bank said on Thursday. John E. Waldron has been promoted to replace Weinberg as a third co-head of investment banking, along with Richard...

  • SAO PAULO, Dec 17- Grupo BTG Pactual SA's Chilean unit obtained a permanent banking license to operate in the country on Wednesday, allowing Latin America's largest independent investment bank to start operations in Chile by the end of January. In a statement, BTG Pactual said the unit, known as Banco BTG Pactual Chile, wanted a full banking license in Chile to "grow...

  • Dec 16- When the almost 11,000 financial advisers in Wells Fargo& Co's branch brokerage system get their 2015 compensation plan on Wednesday they may grimace at one change that could hit their pay, or cost their customers a little more. Morgan Stanley, the largest U.S. brokerage firm with more than 16,000 advisers, for example, does not credit brokers for purchases...

  • Dec 16- When the almost 11,000 financial advisers in Wells Fargo& Co's branch brokerage system get their 2015 compensation plan on Wednesday they may grimace at one change that could hit their pay, or cost their customers a little more. Morgan Stanley, the largest U.S. brokerage firm with more than 16,000 advisers, for example, does not credit brokers for purchases...

  • Dec 16- When the almost 11,000 financial advisers in Wells Fargo& Co's branch brokerage system get their 2015 compensation plan on Wednesday they may grimace at one change that could hit their pay, or cost their customers a little more. Morgan Stanley, the largest U.S. brokerage firm with more than 16,000 advisers, for example, does not credit brokers for purchases...

  • UPDATE 1-Jefferies in talks to sell futures business Tuesday, 16 Dec 2014 | 9:33 AM ET

    Dec 16- Investment bank Jefferies Group LLC, owned by Leucadia National Corp, reported a quarterly net loss and said it was in talks to sell its futures brokerage. Jefferies bought the business, formerly known as Prudential Bache, from Prudential Financial Inc in 2011 for $430 million to expand into a full-fledged investment bank. Leucadia, which models itself on...

  • Dec 16- Investment bank Jefferies Group LLC, owned by Leucadia National Corp, reported a quarterly loss and said it was exploring strategic alternatives for its futures-brokerage unit. Net loss attributable to the company was $92.4 million for the fourth quarter ended Nov. 30, compared with a profit of $109.9 million a year earlier, the company said on Tuesday.