Citigroup has established a new asset management group to offer varied solutions and services to richest investors across the world. The new global asset management group will function within investment banking business and it'll bring several segments together.
Investment banking
John Laughlin is stepping down as the head of merger and acquisition, becoming the vice chairman of the business. Wells Fargo is now looking to replace him considering both internal and external candidates.
Morgan Stanley intends to hire additional bankers in 2016 in order to contend with its rival Nomura. The company failed to present the exact number of staffs being hired.
As an investment bank, a problem in investment-banking operation will damage the overall performance. Deutsche Bank suffered its first annual loss since 2008, followed by drastic drop of its shares.
WestPark Capital, a Los Angeles based Investment banking firm, announced today it has opened a New York City office and hired two Managing Directors, Brandon Ross and Jonathan Blum.
UBS AG Chief Executive Officer Sergio Ermotti belied rumors that the biggest lender in Switzerland will be spinning off its investment banking business, Bloomberg reported.
Howard Chen, an analyst from Credit Suisse, will be joining the bank's Investment Banking Department as the Managing Director and Global Head of Financial Technology and Financial Strategies.
The Gulf region, after years of doldrums, is now on the road for recovery according to Morgan Stanley executives.
Bank of America Corp, the second biggest bank in the US by asset announced its new investment banking vice chairman, John Binnie from Moelis & Co.
Swiss bank UBS boosts its commodity trade finance as it makes cuts in investment banking.
Ji-Yeun Lee, the deputy head of investment banking for Morgan Stanley leaves the firm.
Investment banking faces a shakeout and only large commercial players and boutiques offering outstanding service will survive and prosper, the head of emerging markets banking specialist Renaissance Group told Reuters.
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