Tag:
powerhouse
Latest Headlines
Latest Headlines
Lessons from the fall of MF Global
John Corzine, no doubt enjoying the cachet of a former Goldman Sachs CEO, was brought in to turn MF Global into a trading powerhouse in 2010. Toward that goal, he relied on the playbook that worked so well at Goldman Sachs. But in the end, he couldn't recapture the magic. And MF Global now stands
A bit more about Goldman Sachs' prop trading
Revisiting the glory days of Goldman Sachs' proprietary trading prowess, the firm made more than $100 million in trading revenue on a record 34 separate days during the first quarter. That was up from the then-record 28 in the quarter a year ago, reports Bloomberg . In the quarter, it lost mone
What are Merrill Lynch and TPG talking about?
Executives from Merrill Lynch  and private equity powerhouse TPG recently met in New York, according to the Financial Times . The participants included the bigs--John Thain, Merrill Lynch CEO and David Bonderman, TPG co-founder--among others. Apparently, Bonderman offered to pony up some c
JP Morgan works to retain Bear hedge fund clients
JP Morgan Chase , by dint of its Bear Stearns deals, is an instant powerhouse in the prime brokerage business. But it has a lot of work ahead of it. The firm is in overdrive to appease Bear Stearns' hedge fund clients, ensuring them that all will run smoothly with new owners at the helm. A
Magellan reopens after a decade
There was once a day when people really wanted to be in the Fidelity Magellan Fund. That was a long, long time ago. Back then, Peter Lynch, the fund's famed manager, was almost a household name. Fidelity was powerhouse. Magellan was the largest mutual funds in the world. And of course it was
Citadel to go public in 2008?
Ken Griffin , the 38-year-old head of Citadel Investment Group, is already worth about $2 billion. That could head much higher in 2008 if he manages to take his alternative investment powerhouse public, something that Business Week Online says is likely. This would qualify as a contrarian
A good time to act at Bank of America?
An earnings bomb is a good time to get things done. Under the cover of mega-change, you can make a lot happen. So it is that Bank of America is taking the opportunity to make some strategic moves in the wake of its "end of investment banking" restructuring. The latest news was t
Duff & Phelps IPO hit market
It seems like a tough time for an investment banks to go public. Indeed, Duff & Phelps before it began trading last week was forced to scale back its early plans. However, the sale went off and the firm raised more than $130 million. Goldman Sachs and UBS were the lead underwriters. One might
Surprise. The top merger advisor really is...
We noted recently that when it comes to financial sponsor-backed IPOs, the choice of underwriter seems to be significant in terms of performance . UBS, somewhat surprisingly, fared the best. Now, The New York Times takes a look at whether advisors matter when it comes to strategic deal
Capital One Financial's banking efforts
Capital One is of course a credit card powerhouse. In many ways, it has been a pioneer that brought a more scientific marketing approach to the business. Now for its next act: retail banking. Over
