securities
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UK fund manager profit squeeze set to shrink bonuses by 20%
Some of the UK and Europe’s largest fund management houses have seen assets under management shrink this year as volatile…
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FTX flopped simply because it veered from decentralised finance
Jurica Dujmovic is a columnist for MarketWatch. He is a business publisher, consultant, designer and gamer The past few weeks have been…
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U.S. stock futures fall as Chinese protests rattle markets, oil hits 2022 low
U.S. stock-index futures sank Sunday night, as Asian markets fell following widespread public demonstrations in China and as oil prices…
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Is the market bottom in? 5 reasons U.S. stocks could continue to suffer heading into next year.
With the S&P 500 holding above 4,000 and the CBOE Volatility Gauge, known as the “Vix” or Wall Street’s “fear…
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HSBC poaches ex-FCA comms boss Tom Willetts for private banking role
Former Financial Conduct Authority communications director Tom Willetts is joining HSBC as global head of communications for private banking and…
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FTX Hires Ex-Regulators to Investigate Firm’s Collapse
Cryptocurrency exchange FTX, whose recent collapse has led to questions about lacking regulatory oversight, has hired a fitting team to…
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Abrdn set for FTSE 100 return following share price rally
Abrdn, the Edinburgh-headquartered asset manager, is set to return to the UK’s premier listing of UK companies following a more…
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FTX hires former regulators to investigate what led to the crypto giant’s bankruptcy
Cryptocurrency exchange FTX, whose recent collapse has led to questions about lacking regulatory oversight, has hired a fitting team to…
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Toxic combo of poor regulation and UK government’s reckless budget triggered pension blow-up, witnesses say in inquiry
A toxic combination of leverage, poor regulation and a reckless UK government budget drove the extraordinary blow-up of the pension…
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Credit Suisse warns of $1.6bn hit in fourth quarter as concerned clients pull investments
Credit Suisse warned it would lose around $1.6bn in the fourth quarter after customers pulled their investments and deposits over…
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Fidelity cashes in on crypto crisis following FTX collapse
Fidelity’s institutional crypto boss said the firm is taking advantage of the turmoil in the digital assets sector, as clients…
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Morgan Stanley names new leaders for European financial sponsors unit in dealmaker shake-up
Morgan Stanley has installed new heads of its financial sponsors business in Europe, the latest changes at the US bank,…
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Pensions for Purpose’s Charlotte O’Leary: Can white, male, over-50 trustees represent a fund’s youngest members?
Charlotte O’Leary was fed up — she’d spent over a decade at large asset management firms and investment consultants. She was…
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Morgan Stanley’s top London banker Franck Petitgas steps down
Morgan Stanley’s top investment banker in London is stepping down from the US firm after nearly 30 years. Franck Petitgas,…
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The SEC rule that stands to cost FTX crypto customers billions
Hal Scott is an emeritus professor at Harvard Law School and director of the Committee on Capital Markets Regulation. John…
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Credit Suisse flags $1.6 billion 4Q loss as wealth management comes under strain
Credit Suisse Group AG said Wednesday it expects to make a loss before taxes of around CHF1.5 billion ($1.58 billion)in…
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Is the stock market open on Black Friday? Thanksgiving week trading hours for major assets.
It’s going to be a short week on Wall Street. U.S. stock exchanges will be closed for Thanksgiving Day on…
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Credit Suisse and Apollo strike deal for securitised products group
Credit Suisse Group has entered into definitive transaction agreements to sell a large part of its securitised-products group and other…
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Hedge funds fall for Dubai over lower tax rates, softer regulation — portfolio managers want in
London hedge funds are joining a trend of investment firms looking towards Dubai for expansion, lured by lower tax rates, softer…
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Bain Capital snares Ropes & Gray London boss for top European legal role
Private equity firm Bain Capital has hired US law firm Ropes & Gray’s London boss for a senior role in…
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SocGen and AllianceBernstein agree equities tie-up
French bank Societe Generale has signed a joint venture with US investor AllianceBernstein to bolster its equity research, trading and…
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Tesla stock at two-year low, other EV-maker shares plunge as concerns simmer about China, oil futures
Tesla Inc. shares on Monday were poised to end at a fresh two-year low, with shares of other electric-vehicle makers…
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Morgan Stanley plans to reduce one gigaton in carbon-dioxide emissions by 2050
Morgan Stanley has formed a new growth-capital strategy that aims to invest $1bn to back companies that will seek to…
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Rothschild & Co hires ex-Rio Tinto chair Simon Thompson for UK advisory business
Rothschild & Co has taken on the former chair of mining giant, Rio Tinto, to help bolster its coverage of…
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Contagion fears emerge at crypto bank Silvergate Capital after FTX debacle
Earlier this month, Silvergate Capital gathered its staff to celebrate its transformation into the go-to bank for the crypto market.…
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FTX’s 50 largest creditors owed $3.1bn
FTX owes its 50 largest creditors about $3.1bn, the failed cryptocurrency exchange said in a bankruptcy court filing on 19…
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COP27 wins and losses: U.S. on the hook to pay for its pollution; natural gas gets nod as transition fuel
For the first time ever, rich nations, including a top-polluting U.S., will pay for the climate-change damage inflicted upon poorer…
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FTX staff vent their anger as collapse leaves them in shock
One FTX executive vomited when he learned that the crypto exchange was missing billions of dollars of customer money. A company lawyer…
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Wave Financial, Binance make fresh plays for Voyager Digital after FTX’s $1.4bn takeover collapses
Wave Financial and Binance are the latest firms to line up fresh bids for collapsed crypto exchange Voyager Digital, after…
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Autumn Statement: Rachel Reeves slams government for protecting banker and private equity bonuses
Shadow chancellor Rachel Reeves has hit out at chancellor Jeremy Hunt for protecting the bonuses of bankers and private equity…
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Trading Places: Evercore and BNP bulk up, Rokos bags ex-Brevan Howard manager
Evercore hired Richard Hoyle from Lazard, where he headed the independent investment bank’s UK technology, media and telecoms business. He joins as…
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Why PE’s investor appetite is waning
Investor appetite for private equity is coming under strain. The latest Rede Liquidity Index score – a closely followed industry benchmark…
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Why Goldman Sachs’ global co-head of private equity is in no hurry for acquisitions
How do you spend $10bn during a downturn? That is the question facing the private equity team at Goldman Sachs…
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Credit Suisse hands out $300m in retention bonuses to keep dealmakers
Credit Suisse handed out nearly $300m in retention bonuses to dealmakers during the third quarter of 2022 — more than…
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Credit Suisse plans to cut 450 frontline jobs at its European investment bank
Credit Suisse’s European operations are set to bear the brunt of front-office job cuts as the Swiss bank prepares to cut around…
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Liontrust, Pictet, and Man Group chief Luke Ellis win big at FN’s fund management awards
Liontrust and Pictet Asset Management picked up the big prizes at Financial News’ Excellence in Institutional Fund Management Awards on 8 November.…
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FTX liquidity crisis forces crypto hedge funds into rethink
Crypto hedge funds are changing how they work with exchanges around settlement and asset safeguarding, after a liquidity crunch pushed FTX to the…
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Goldman Sachs names 80 partners – here are the names
Goldman Sachs has promoted 80 to partner, a coveted senior role at the US banking giant that comes with a…
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Ninety One sustainability boss: Divesting from oil and coal doesn’t work
Divesting from heavy polluting companies may look good on paper and appease ESG-diehards, but has minimal impact on reducing emissions and…
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Evercore hires Lazard’s Richard Hoyle in UK expansion
Boutique investment bank Evercore has bolstered its London operation by hiring a senior dealmaker from rival Lazard. Richard Hoyle is…
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Xavier Rolet: Clearing is the ‘litmus test’ for London’s global crown
The former chief executive of the London Stock Exchange Group Xavier Rolet said London’s ability to hold on to clearing services…
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Dealmaking team steps down from KBW’s UK office
A team of six dealmakers at US-headquartered investment bank KBW have stepped down from its City office and will start…
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Ex-Brevan Howard portfolio manager Luke Sadrian joins Rokos as partner
Rokos Capital Management hired former Brevan Howard portfolio manager Luke Sadrian as an investment officer and partner as part of a commodities…
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Ex-BlackRock executive says ESG investment model is broken
Terrence Keeley had been at BlackRock for about a decade when he reached a contrarian conclusion: ESG doesn’t work. Keeley spent much…
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Crypto lender Genesis stops withdrawals in wake of FTX failure
Cryptocurrency lender Genesis told clients that it is suspending redemptions and new loan originations following the collapse of crypto exchange FTX. The swift…
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Republicans clinch slim majority in House, likely signaling gridlock ahead
Republicans will take over the U.S. House of Representatives two years into President Joe Biden’s term, though their narrow majority…
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BNP Paribas bolsters UK investment bank with Randall hire
BNP Paribas has hired a senior banker for its UK corporate broking team as the French bank looks to bolster…
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Binance policy head tells MPs: ‘We didn’t cause FTX crisis’
Binance has told MPs that chief executive Changpeng ‘CZ’ Zhao was not responsible for the crisis that engulfed FTX —…
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Crispin Odey soft closes flagship hedge fund after major pound and coal wins
Crispin Odey has closed his flagship European hedge fund to new investments after scoring big wins from shorting the pound in the…
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Fund managers, bankers and brokers will see up to 40% pay cut, Wall Street compensation experts warn
Wall Street compensation consulting firm Johnson Associates is flashing a caution signal to fund managers, bankers and brokers not to…
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