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Capital Markets Investment Banking and Brokerage

  • NEW YORK, April 21- Goldman Sachs Group Inc has named Marie Louise Kirk and George Lee as co-heads of engineering for its investment bank, a new role created to foster technological change within the business, according to a memo seen by Reuters. The organizational change comes as Goldman has been integrating programmers into its investment bank to reduce grunt...

  • *HSBC, JPM strongest 2016 transaction banking performers in Asia. *JPMorgan adds more people in transaction banking in Asia. HONG KONG, April 20- With dealmaking in Asia sluggish and Chinese investment banks taking market share from global rivals, some foreign banks are ploughing resources into transaction banking, the workaday business of financing trade,...

  • OMAHA, Neb.— Online brokerage TD Ameritrade is maintaining its earnings forecast for is current fiscal year, despite cutting the fee it charges on customer's trades. TD Ameritrade CEO Tim Hockey said that his company is prepared if the commission war escalates further, but he also believes Ameritrade's trading platform is worth more. TD Ameritrade affirmed its...

  • MS beat boosted by trading and investment banking

    The "Squawk on the Street" crew talk about Morgan Stanley's quarterly numbers which shows profits up 74-percent, and CEO James Gorman calling it one of the firm's strongest quarters in recent years.

  • BlackRock earnings beats Street

    CNBC's Leslie Picker breaks down BlackRock's quarterly numbers which posted and earnings beat of $5.25 Adj. on revenues of $2.824 billion.

  • NEW YORK— Wealth management and investment banking firm Morgan Stanley saw profits rise 74 percent in the first quarter, helped by the firm's well-regarded trading desks. Morgan Stanley's wealth management arm, a part of the firm's business that management has been focusing much of its energy on, also grew profits in the quarter. Morgan Stanley's...

  • Wall Street banks have been energized by increased market activity prompted by the so-called "Trump trade" with the sector rallying since the election on hopes of simpler regulations and tax cuts under President Donald Trump's administration. "This quarter shows the value of our businesses as rates begin to rise and as we experience increased capital...

  • April 18- Bank of America Corp reported a higher-than-expected jump in quarterly profit as trading surged and the lender earned more from underwriting debt and equity offerings and advising on deals. Wall Street banks have been vitalized by increased market activity prompted by the so-called "Trump trade". The U.S. economy continues to show consumer and...

  • Wall Street banks have been vitalized by increased market activity prompted by the so-called "Trump trade". The second-largest U.S. bank's total revenue rose about 7 percent to $22.45 billion in the three months ended March 31, handily beating the average analyst estimate of $21.61 billion. BofA's shares, which have risen about 34 percent since the...

  • NEW YORK— Goldman Sachs had a rare miss in its first quarter results, the bank said Tuesday, as its typically best-in-class trading desks did not perform as well as its competitors. The New York- based investment bank earned $2.16 billion compared with $1.2 billion in the same period a year earlier. On a per-share basis, Goldman Sachs earned $5.15 a share versus...

  • An ATM is shown at company headquarters for the PNC Financial Services at One PNC Plaza in Pittsburgh, Pennsylvania.

    PNC's stock jumped after the bank reported earnings and revenue that beat Wall Street's expectations.

  • NEW YORK, April 12- JPMorgan Chase& Co's retail brokerage arm, JPMorgan Securities, has hired a team of advisers from its bigger wealth management rival Morgan Stanley, where the team managed $1 billion in client assets, the bank said late Wednesday. Twin brothers Jay and Neil Canell, along with Justin Dembo joined JPMorgan in New York City, where they will operate...

  • NEW YORK— Wells Fargo's sales practices scandal isn't going away anytime soon, with first-quarter profit essentially flat as the bank struggled to win customers. Bank employees are "more actively marketing products" to customers again in the branches, said John Shrewsberry, the company's chief financial officer. Regulators had fined San Francisco- based...

  • The bank's net income rose to $6.45 billion in the first quarter ended March 31 from $5.52 billion a year earlier. Earnings per share rose to $1.65, beating the average analyst estimate of $1.52 per share, according to Thomson Reuters I/B/E/S. Net revenue rose 6.24 percent to $25.59 billion, compared with the estimate of $24.88 billion.

  • The bank's net income rose to $6.45 billion in the first quarter ended March 31 from $5.52 billion a year earlier. Earnings per share rose to $1.65, beating the average analyst estimate of $1.52 per share, according to Thomson Reuters I/B/E/S. Net revenue rose 6.24 percent to $25.59 billion, compared with the estimate of $24.88 billion.

  • NEW YORK— JPMorgan Chase reported first-quarter earnings that easily beat analysts' estimates Thursday, helped by a steady climb in interest rates from a year earlier as well as gains in investment banking. As expected, JPMorgan's bottom line benefited directly from the Federal Reserve's push to raise interest rates over the past year. "We are off to a good start...

  • LONDON/ MADRID April 10- A gap in EU financial rules is allowing member countries to compete to host the trading operations of London- based investment banks after Brexit by offering looser regulatory standards. This is largely because when the ECB became responsible for euro zone supervision in 2014 the bulk of broker-dealers were in London and therefore not...

  • NEW YORK, April 7- Bank of America's Merrill Lynch brokerage unit is launching a renewed push to recruit and train young advisers to supplement a sales force that is aging industry-wide, Merrill Lynch head Andy Sieg said on Friday. "Make no mistake, when we look out over the next 10 years the thundering herd will be growing," Sieg said, speaking at the Securities...

  • WASHINGTON, April 6- White House economic adviser Gary Cohn said he backed bringing back the Glass-Steagall Act, a Depression-era law that would revamp Wall Street banks by splitting their consumer-lending businesses from their investment arms. Reinstating the law, which was repealed in 1999, has not attracted significant attention in Congress, but...

  • WASHINGTON, April 6- Former Goldman Sachs Group Inc executive and White House adviser Gary Cohn shocked more than a few of his former Wall Street colleagues this week when he showed support for reinstating a Depression-era law that would break up the biggest U.S. banks. :Since the 2008 financial crisis, Glass-Steagall has become a calling card for politicians...