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Capital Markets
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Latest Headlines
Wells Fargo gains in investment banking
Among the big stories as banks report fourth quarter results was the sorry performance of investment banking and trading.
At big diversified banks, the consumer side of the business held up relatively well as the capital markets side really suffered. But that doesn’t mean that all the news on
Wells Fargo posts strong performance
Compared to Citigroup anyway, Wells Fargo's fourth quarter earnings were better received.
The San Francisco-based lending giant reported $4.1 billion profit in profits, or $0.73 a share. That just topped the average analyst estimate of $0.72 a share. The consumer lending giant certainly benefi
Moynihan announces more Bank of America job cuts
Last month, Bank of America announced plans to cut about 3,500 jobs. People speculated that ultimately, the bank would slash about 10,000 jobs, which seemed like a huge number.
Now comes word from the Charlotte Observer that CEO Brian Moynihan, who is under a lot pressure from shareholders
Citadel to shut down investment bank operations
There was time not so long ago when the alternative asset managers seemed liked they were poised to compete with Wall Street's top broker dealers. Flush with massive profits and hubris, various private equity firms like KKR and hedge fund-oriented firms like Citadel boldly proclaimed their intenti
Are you ready for Volcker Rule compliance?
As the recent GAO report on proprietary trading shows, it's very hard to get to the truth when it comes to proprietary trading. The GAO was tasked by Dodd-Frank with analyzing prop trading at top Wall Street banks. But due to the complexity of taking a deep and comprehensive look at all forms
First Twitter-based algo fund launched in London
Derwent Capital Markets of London was so enthralled with recent research suggesting that Tweets could be used as a market sentiment indicator to predict the stock market that it set up a hedge fund test the idea.
We noted on FierceFinanceIT that the fund purchased exclusive rights to t
Crackdown on Chinese reverse mergers
Reverse mergers have long been a controversial backdoor way for a company to list on the public markets in the United States. The basic idea is to merge a publically traded shell company with a private company, and, presto, that private company instantly becomes a listed company on an established
Lazard results bode well for deal economy
The less than stellar results at Greenhill & Co. led to some talk about the fate of deal advisory boutiques at a time when the big boys of the industry were laser-focused on what appears to be a favorable deal environment.
But Lazard just released solid fourth quarter results, featuring a
Small banks to benefit most from IPO boom
Who will benefit the most from the hot IPO market? The domestic market has been sizzling this year, as nine deals that raised $4.4 billion have already hit the market, according to DealLogic. That's perhaps the best January ever.
This rising market will certainly lift a lot of ships. One of th
2010, a good year for M&A in financial technology
Plenty of deals cropped up last year in the financial IT industry, and it may be ripe for even more in 2011. According to mid-market investment bank Berkery Noyes, deals increased 30 percent to 238 in 2010 from 183 in 2009, and transaction value increased 27 percent to $20.52 billion in 2010 from
