RBS

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Thu, 01 May 2008 06:59:49 -0400

Featured career opportunity:
Credit Analyst, Wells Fargo
The Senior Credit Analyst will be responsible for financial and credit analysis of international financial institutions, preparing underwriting memorandum and conducting presentations on findings…
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Portfolio Manager-Emerging Markets, PIMCO
Trader - Emerging Markets, Morgan Stanley
Intermediate Research Analyst, OppenheimerFunds

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Featured career article:
Beyond Mortgages, Fixed-Income Lives
There is life in fixed-income - surprising though it may seem. In a market devastated by losses from sub-prime mortgages and leveraged loans, several niches are seeing hiring activity …
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eFC Briefing: Layoffs, Departures, and New Hires
RBS Seen Cutting 7,000 More Jobs
Will Finance Go the Way of Manufacturing?_________________________________
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European banks bent on more capital

Wed, 23 Apr 2008 06:59:54 -0400

Now this is eye popping: Royal Bank of Scotland has announced a $24 billion sale of stock, the biggest offering in British corporate history, according to the AP. The new capital is sorely needed to provide a cushion in the wake of extensive mortgage-related losses. The bank has said it will write down close to $12 billion. Ouch! Other British banks will do the same, joining their American brethren, notably Citigroup, Merrill Lynch and JP Morgan Chase. But $24 billion? This will be seen a humiliation by many, especially after its historic purchase of ABN last year. The terms on the RBS deal will be interesting. Lots of preferred shares issuers have been offering souped-up yields, ensuring not shortage of buyers.

For more:
- here's the AP article

ALSO NOTED: Merrill to return to profitability soon?; Rising level 3 assets to explode at top banks?; and much more...

Tue, 22 Apr 2008 06:59:50 -0400

Company News:
> Goldman Sachs underwriting for RBS. Article
> National City to raise $7 billion. Article
> Union calls for Citi break up. Article
> J.C. Flowers drops Provident bid. Article
> Analysts bearish on MF Global. Article
> Jefferies misses estimates, sells shares. Article
> Citigroup analyst: Merrill to return to profitability soon. Article

Industry News:
> PR news: Wall Street Journal editor expected to resign. Article
> Rising level 3 assets to explode at top banks? Article
> PE firms eyeing financial services. Article
> Trader snap up puts on top banks. Article

And Finally... A teacher's lessons for business execs. Article

A good year for deals?

Fri, 21 Dec 2007 06:59:55 -0500

Many might be predicting gloom and doom on the deal front. We will not likely hit another record and the number of mega-deals has now where to head but south. Most of this is driven by the belief that the marquee private equity funds will remain stalled by the CLO crunch. But remember the biggest deal in history was the RBS-led deal to buy ABN for $101 billion. That's massive and it is being executed without any private equity money. So you have to think that non-sponsor investment bankers are salivating; 2008 might be the year of the strategic deal. Smaller deal-makers are also sensing more deals, which just might draw competition from the big boys. When all is said and done, the deal count may dip but there will be plenty of dealmaking.

Citigroup's future on the line

Wed, 28 Nov 2007 06:59:57 -0500

It's fair to say that the absence of a CEO at Citigroup is occurring at a tough time. Some big decisions are being made without one. The Abu Dhabi Investment Group deal is one example. There may be some writedown decisions. Most think the company needs to do more to end all the angst about its capital ratios and indeed, its future. The big question out there is whether to break up the company. With that in mind, MarketWatch runs down some of the CEO candidates. Laurence Fink and Vikram Pandit now are deemed longshots. Josef Ackerman, head of Deutsche Bank, and Fred Goodwin, of RBS, are said to be under consideration, as is Robert Willumstad, now chairman at AIG. Stay tuned.

For more:
- here's the MarketWatch article

Related articles:
- Who will become CEO of Citigroup?
- Will John Thain become CEO of Citigroup?
- Whatever happened to succession planning?
- Rubin to rise to the Citigroup challenge?

ALSO NOTED: Bank of America to relaunch credit card; Will strategic buyers lead the next deal surge?; and much more...

Wed, 17 Oct 2007 06:59:50 -0400

Company News:
> RBS faces task of integrating with ABN. Article
> U.S. Bancorp profits slip. Article
> State Street barely misses estimates. Article
> KeyCorp misses estimates. Article
> Wells Fargo misses estimates. Article
> Commerce Bancshares beats estimates. Article
> Bank of America to relaunch credit card. Article
> IKB Deutsche Industriebank faults managers for losses. Article
> Yet more on Goldman Sachs' 3Q earnings. Article

Industry News:
> Will strategic buyers lead the next deal surge? Article
> Credit crunch hitting regional banks? Article
> Enron "whistleblower" a fraud? Article

Regulatory News:
> Franks warns of premature vote to proax issues. Article
> CDA disclosures to follow Sarbox precedent? Article
> Oracle continues to add compliance features. Article

And Finally... Family friendly policies and freeloaders. Article

SPOTLIGHT: RBS

Thu, 11 Oct 2007 06:59:52 -0400

Well, after a whole lot of fighting, RBS has emerged victorious in the battle for ABN--the largest takeover in history. Bank of America also won, as it was able to buy LaSalle after all. Article | Unfortunately, RBS remains among the most exposed to the private equity slowdown. Article

ALSO NOTED: NASDAQ launches new index; Cube Jr? ; More on Sallie Mae saga; and much more...

Thu, 11 Oct 2007 06:59:50 -0400

Company News:
> More on Sallie Mae saga. Article
> The Federal Home Loan Bank of Chicago may halt redemptions. Article
> RBS says it did not overpay for ABN. Article
> Lehman Brothers sued by TN firm. Article
> BONY Mellon actually adding jobs. Article
> NASDAQ launches new index; Cube Jr? Article

Industry News:
> Earnings to drop for first time in 5 years. Article
> Strategic dealmaking alive and well? Article
> Israel bank cuts ties with Gaza. Article

Regulatory News:
> SEC hits hedge fund over post-Katrina short sales. Article

And Finally... Ready for the $100 laptop? Article

ALSO NOTED: More on selective layoffs at Goldman Sachs and other top banks; Subprime index hits new lows; and much more...

Fri, 31 Aug 2007 06:59:50 -0400

Company News:
> Thornburg Mortgage aims to issue convertible shares. Article
> RBS cuts back in the U.S. due to credit turmoil. Article
> SCBT Financial to buy two South Carolina banks. Article
> Good marketing: Fidelity warns of guaranteed income gap. Article

Industry News:
> European banks struggle with short-term debt woes. Article
> More on selective layoffs at top banks. Article
> Freddie Mac profits slide. Article
> Subprime index hits new lows. Article
> Credit crunch hitting small businesses. Article
> More defaults on investment homes. Article

Regulatory News:
> As expected, charges against Quattrone formally dismissed. Article

And Finally... Gunman holds hostages in Chicago bank. Article

ALSO NOTED: Analyst says Merrill Lynch is now undervalued; Bank stops taking mortgage apps; and much more...

Tue, 07 Aug 2007 06:59:50 -0400

Company News:
> Analyst says Merrill Lynch is now undervalued. Article
> Bank stops taking mortgage apps. Article
> Wells Fargo to buy back shares. Article
> RBS's chances go up in ABN battle. Article

Industry News:
> Another German fund stops redemptions. Article
> More on the overall credit picture. Article
> NYMEX shopping building ahead of deal. Article

And Finally... The 10 most expensive cars. Article