Investment banks

Banks increasingly reliant on growing equity markets

Banks are growing more reliant on the growing market for equities as they get nearly half of their fourth quarter investment banking revenues from equity trading and underwriting, the Financial Times reported.

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Moelis & Co planning public debut--source

Investment bank Moelis & Co founded by Wall Street dealmaker Ken Moelis is planning an IPO together with Goldman Sachs Group Inc and others.

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Deutsche Bank acquires Frankfurt tower from CBRE Global Investors for $326M

Deutsche Bank has acquired the WestendDuo office tower in Frankfurt from CBRE Global Investors for about €240 million. The German lender also bought an office-development project in Paris, called In Situ, for around €104 million.

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Creditors of bankrupt Brazilian bank Banco Cruzeiro do Sul propose debt-to-equity swap

In an attempt to get their money back faster, creditors of Brazil-based Banco Cruzeiro do Sul, are looking for a debt-to-equity swap on an unsecured debt valued at 2.3 billion, Bloomberg reported.

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China's Fosun International Ltd to buy insurance arm of Portugal's state bank for €1B

The insurance unit of Portugal's Caixa Geral de Depositos SA will be acquired by China's Fosun International Ltd in a deal worth €1 billion, Reuters reported.

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Santander Consumer eyes $8.4B valuation in IPO

Santander Consumer USA Holdings is seeking a valuation of as much as $8.4 billion in its initial public offering. The auto loan company owned by Spain's Banco Santander as well as private equity firms expects to raise $1.56 billion in the listing.

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US regulators seek to tighten standards on muni advisers- report

The Municipal Securities Rule-making Board has released draft rules today aimed at tightening the standards that govern the conduct of firms that give advice to public officials regarding their municipal bonds.

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Thailand's PTT not bidding for Shell's petrol stations in Australia -official

A senior official from Thailand's state-owned petroleum company PTT on Thursday denied a media report saying that it was bidding for Royal Dutch Shell's service stations in Australia. Shell is selling its 900 petrol stations and an oil refinery in the country for A$3 billion.

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Singapore's OCBC unveils $100M China private equity fund

Singapore's Oversea-Chinese Banking Corp. Ltd. recently launched a $100 million private equity fund to invest in onshore Chinese companies over the next five years. The said fund will managed by OCBC Capital Equity Investment Management Co. based in Shanghai.

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JPMorgan picks up stake in US trading platform Chi-X Global

US-based multinational banking and financial services firm JP Morgan Chase & Co purchased an equity stake in alternative trading systems operator Chi-X Global Holdings LLC for an undisclosed sum.

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JPMorgan to pay $2.6 billion to US government, victims related to Madoff Ponzi scheme

Investment bank JPMorgan Chase & Co. has agreed to a $2.6 billion settlement with the US government and victims of the Bernard Madoff Ponzi scheme. Government prosecutors alleged that JPMorgan failed to share its suspicions of fraud at Madoff's fund with the US authorities.

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Goldman Sachs infrastructure fund sells 49pct stake in SSA Marine's parent company

GS Infrastructure Partners, controlled by investment bank Goldman Sachs Group, has sold its 49% stake in FRS Capital Corp., the ultimate parent company of SSA Marine. SSA Marine is one of the world's largest privately held port operators.

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Northwestern Mutual mulls over sale of subsidiary Russell Investments -sources

Northwestern Mutual Life Insurance Co. is reportedly looking to sell its asset management business Russell Investments, citing that it is not a core part of its business. Russell Investments has $247 billion in assets under management.

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Sources say Deutsche Bank hires Goldman Sachs Group Inc's Malaysia chairman for corporate finance

Citing sources, Bloomberg reported that Germany-based Deutsche Bank had hired Yusof Annuar Yaacob, Malaysia's Chairman for Corporate Finance of Goldman Sachs Group Inc, to become the lender's country head in Malaysia.

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Grupo BTG Pactual says Brazil's 2014 presidential elections will curtail M&A activity

Sao Paulo-based investment bank and asset wealth manager Grupo BTG Pactual said Brazil's presidential elections scheduled in October 2014 will curtail the mergers and acquisitions activity this year, Bloomberg reported.

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