FierceFinance is the financial services daily monitor, with news covering the banking industry, asset management, capital markets and SEC regulations. Join
45,000+ bankers and fund managers who get FierceFinance via email for a quick daily briefing from an insider perspective. Sign up today!
The private equity industry unfortunately has a long history of train wrecks when it comes to private investments in public entities (PIPEs). The most recent: TPG Capital's $1.35 billion loss on its... Read more...
The American Banker has announced its banker of the year: Bank of America CEO Ken Lewis. Now some of you might argue that this would have been a good year to simply not give an award. Others might... Read more...
The banks that received federal money in the first tranche were pretty much told not to sit on it. They have to deploy it somehow. So that raises the question: How? You would have to think all of... Read more...
There's been a lot of nervousness about Wachovia of late. The bank's CDS spreads have been rising, which is really pressuring its stock. With the ghost of Washington Mutual hovering near, there is a... Read more...
If you're an investment bank, the stable deposits of a commercial bank, even an ailing one, look pretty attractive right now. Even before the news hit that Morgan Stanley was in talks with Wachovia,... Read more...
Who are the biggest deal makers on Wall Street right now? Not Goldman Sachs. Not Morgan Stanley. Try federal regulators, like Treasury Secretary Henry Paulson and New York Fed Bank head Tim Geithner.... Read more...
Thanks to Merrill Lynch's John Thain (fairly or not), people tend to be skeptical when they hear from CEOs that their bank's capital ratios look good. So what should one think of rumor-battered Read more...
Most people assume the cagey Jamie Dimon is angling to make another purchase, specifically one to build the retail-bank side of the firm. The rumors are heavy regarding several companies, notably... Read more...
When is bad news really good news? When the bad news is not nearly as bad as expected, notes the New York Times. You could almost feel the relief wash over the markets as many top banks (excepting Read more...
Labor unions have stepped up on a lot of shareholder-interest issues over the past few years. We're now seeing them pressing top banks in several areas. The latest: the American Federation of State,... Read more...