Disappointing earnings reports from JPMorgan Chase and Morgan Stanley have set the stage for a tense summer on Wall Street as bank executives grapple with whether to reduce staffing levels. A decline in investment banking fees had always been expected this year after a record haul in 2021, but bankers […]
Adella Miesner
HSBC installs Communist party committee in Chinese investment bank
HSBC has become the first foreign lender to install a Chinese Communist party committee in its investment banking subsidiary in the country, a move that underlines the tension facing the bank as it tries to navigate between Beijing and the west. The lender’s China investment bank, HSBC Qianhai Securities, recently […]
Nomura co-head of investment banking foresees huge rise in ESG dealmaking
Large scale M&A ahead: Nomura’s Jeffrey McDermott says ESG dealmaking is set to accelerate rapidly © Pascal Perich In early 2020, when the world’s attention was on the emerging terrors of the Covid-19 pandemic, Japan’s biggest investment bank, Nomura, took its most daring gamble in more than a decade. It […]
Banks pivot from frantic hiring to job cuts amid dealmaking slump
Breadcrumb Trail Links FP Finance Banking Wall Street and European investment banks have an acute sense of buyer’s remorse Author of the article: Bloomberg News Myriam Balezou, Dinesh Nair and Swetha Gopinath A man walks along Wall Street in New York. Photo by Eric Thayer/Reuters Article content Wall Street and […]