The investment manager reported a yearly net income of $8.52bn, a 24% drop from the previous year. Analysts attribute this to slower business rates, exit costs, and job cuts, not just for Goldman Sachs but the industry in general. Since the $8.46bn profits of 2019, Solomon’s first full year as company CEO, this has been…
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Additionally, Barclays is considering streamlining its investment division, which might result in the departure of thousands of investment banking clients who have relatively low capital. The move towards cost savings and restructuring is driven by Barclays' desire to boost revenue and significantly reduce costs. This decision comes after reports of declining investor confidence in the…
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Growth Investment Banking, however, registered yearly increase during the third quarter attributed to the growth in capital light businesses such as advisory and origination. Kentaro Okuda added: Investment Banking had its best quarter since the year ended March 2017 when comparisons became possible, driven by cross-border M&A deals, sustainable finance mandates and synergies with Nomura…
Read moreHSBC's Swiss private banking division has agreed to pay $12.5 million in order to settle charges by the SEC that it solicited North American clients whilst being an unregistered entity
Read moreSince establishing a global FX trading desk in New York in late 2012, BTIG has been steadily increasing the scope and depth of its FX offerings to clients.
Read moreReuters has an excellent op-ed piece today outlining the shrinking commissions for FX dealers across the industry spectrum, it has always been about volume, but now more than ever. Dominic Elliot lays out the harsh economics of the FX business. He compared lower commissions of FX to the equity business which also coincided with the…
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