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GC Asia
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UBS IB spends $80m on restructuring the workforce
UBS’s investment bank spent around $80m from restructuring related to personnel at the end of last year. The Swiss bank has also said it will look into partnerships with other banks for its investment bank.
21 Jan 2020 -
Morgan Stanley and compatriots raise the FICC bar
Morgan Stanley more than doubled its revenue from fixed income sales and trading in the fourth quarter of last year, completing a stellar set of earnings for US banks in that business after a year in which they appear to have cemented their dominance in Europe.
16 Jan 2020 -
Laying it on FICC: trading helps Goldman and Bank of America
Fixed income, currencies and commodities trading (FICC) has been the clear area of strength in US bank results so far when compared with the fourth quarter of 2018, particularly in rates and mortgages. Underwriting fees have also come in high, but advisory earnings have suffered.
15 Jan 2020 -
Underwriting, fixed income revenues grow at JPM and Citi
JP Morgan, Citi and Wells Fargo kicked off the fourth quarter earnings season for investment banks on Tuesday, showing momentum in underwriting revenues and fixed income trading, while advisory fees and equities trading stumbled.
14 Jan 2020 -
CS optimistic on tech, healthcare, M&A
Credit Suisse expects to make a pre-tax loss in its investment banking and capital markets (IBCM) division this year, it said at an investor day on Wednesday. But it pointed to a strong pipeline for 2020.
12 Dec 2019 -
Deutsche to hire in coverage, focus on IG issuance
Deutsche Bank laid out its strategy for its investment bank at an investor "Deep Dive" event on Tuesday. As part of a plan to boost the return on tangible equity, it is focusing on cutting costs in the back office and raising revenues in financing and origination.
10 Dec 2019 -
Commerzbank set to double down on Mittelstand and existing clients
Commerzbank’s corporate clients division will focus on small and medium-sized enterprises (SMEs) and cross-selling over pure growth, as it continues with its latest strategic plan.
14 Nov 2019 -
Trading boost lifts UniCredit ahead of new strategy launch
UniCredit’s has chalked up its best quarterly numbers in a decade, its CEO said on Thursday, with the performance of the investment bank lifted by soaring trading revenues. The Italian lender claimed victory on its ‘Transform 2019’ plan, ahead of the launch of a new business strategy early next month.
07 Nov 2019 -
SG trumpets capital growth after restructuring
Société Générale reported a slump in overall profit as part of its third quarter results on Wednesday, but was keen to draw attention to a near-50bp improvement in its capital ratios, thanks to restructuring actions.
06 Nov 2019 -
HSBC prepares to turn screws on investment bank
HSBC is planning to allocate capital away from lower return operations, including the global banking and markets (GBM) division in certain regions, as interim chief executive Noel Quinn revealed disappointing third quarter results on Monday.
31 Oct 2019
