Investment banks

Ares Management LLC

Ares Management dismisses Wall Street banks' call for IPO

Wall Street banks including JPMorgan, Goldman Sachs, Bank of America Merrill Lynch and Morgan Stanley have been calling on private equity firm Ares Management to go public soon. Ares, however, does not see the need for a public offering in the near future.

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Hutchison chooses BoA Merrill Lynch, Goldman Sachs, HSBC to manage A.S. Watson float

Hutchison Whampoa, a conglomerate controlled by Hong Kong tycoon Li Ka-shing has picked Bank of America Merrill Lynch, Goldman Sachs and HSBC to manage the proposed listing of A.S. Watson in Hong Kong and London.

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Australia and New Zealand Banking Group Ltd (ANZ)

David Gonski named as new Chairman of Australia & New Zealand Banking Group

David Gonski, the head of the sovereign wealth fund of Australia, will be the Chairman of the Australia & New Zealand Banking Group Ltd, Bloomberg reported.

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Washington Mutual

JPMorgan strikes back, sues FDIC

JPMorgan Chase has filed a case against the Federal Deposit Insurance Corporation in a bid to recover more than a billion dollars from the government agency which managed the receivership of Washington Mutual.

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Goldman Sachs

Report says power cables' cartel probe a test of EU regulators' ability to punish private equity

The probe of the European Union involving an underwater power cable cartel is a test of the regulators' ability to penalize private equity investors and their parent firms, Bloomberg reported.

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Lloyds Banking Group

UK's NAO says taxpayers lose out on Lloyds share sale

The National Audit Office, a government-spending watchdog, said taxpayers lost money in the government's share sale of Lloyds Banking Group and not a profit, Bloomberg reported.

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Citigroup, Santander sell $1B of trade finance assets

The Financial Times reported two banks divested trade finance assets amounting to $1 billion in a securitization that would get these assets to institutional investors from bank balance sheets.

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Barclays asks judge to stop regulator from collecting fines

UK-based lender Barclays denied allegations that it manipulated electricity prices in California. It asked the the court to stop the US Federal Energy Regulatory Commission from collecting fines.

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Julius Baer

Study says deals M&A deals among wealth managers increase this year

A study from Scorpio Partnership, a consultancy group based in London, showed that mergers and acquisitions among wealth managers have gone up this year, Bloomberg reported.

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JPMorgan Chase & Co

JPMorgan Chase & Co said to exit global investment unit- source

A person familiar with the matter told Bloomberg that JPMorgan Chase & Co plans to divest its global investment unit based in Hong Kong so it can simplify its operations.

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Citigroup Inc

Citigroup Inc sells private equity unit to abide by Volcker Rule

To follow the requirements of the Volcker Rule, Citigroup Inc sold private equity unit Metalmark Capital, Bloomberg reported. The terms of the deal were not disclosed.

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NCG Banco

Six firms place bids for Spain's rescued NCG Banco

Spain's bank restructuring fund FROB on Monday announced that it had received six binding offers for a majority stake in bailed-out bank NCG Banco. Banks and private equity firms from Spain, Venezuela and US reportedly eye the NCG stake.

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BackOffice Associates

Goldman Sachs-backed BackOffice Associates acquires ENTOTA Ltd

Massachusetts-based BackOffice Associates has bought Farnborough, UK-based SAP Data Services consultancy firm ENTOTA for an undisclosed amount. Goldman Sachs invested $30 million in BackOffice five years ago.

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Woori Bank

Woori Investment & Securities Co sale may trigger mergers in local S.Korea securities firms- report

The impending sale of Woori Investment & Securities Co may spur consolidation in South Korea's local securities industry. Final bids for the brokerage unit are due today.

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Shanghai Stock Exchange

2014 poised to be the year of Bitcoin, property, and other asset bubbles - report

Some industry observers believed excess liquidity spurred by central banks' economic monetary policies could result to asset bubbles in niche markets by year 2014.

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