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Top related persons:
Nupur Anand - 2 Lananh Nguyen - 2 Warburg Pincus - 1 Centerbridge - 1 Jared Wolff - 1 PacWest - 1 Timothy Coffey - 1 Janney Montgomery Scott - 1
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Search resuls for: "Niket Nishant Nupur Anand"


3 mentions found


☆ Banc of California and PacWest to merge, raise $400 million in equity
  + stars: | 2023-07-26 | by ( Niket Nishant Nupur Anand David French | Niket Nishant | Nupur Anand | ) www.reuters.com   time to read: +5 min
It will be based in Los Angeles and led by Banc of California CEO Jared Wolff. Shares of PacWest surged 34% after the market close, while Banc of California jumped 9%. PacWest stockholders will receive 0.6569 Banc of California shares for each PacWest share they currently own. Meanwhile, the two private equity firms will be issued new Banc of California stock worth $400 million at a price of $12.30 per share. PacWest had total assets of $44 billion at the end of March, while Banc of California had assets of $10 billion, according to separate company filings.
Persons: Warburg Pincus, Centerbridge, Jared Wolff, PacWest, Timothy Coffey, Janney Montgomery Scott, Janet Yellen, Ares Management, Wolff, We've, David Smith, Nomura, Niket, Nupur Anand, David French, Pete Schroeder, Tatiana Bautzer, Megan Davies, Lananh Nguyen, Arun Koyyur, Jonathan Oatis, Sonali Paul Organizations: PacWest Bancorp, Warburg, Centerbridge Partners, midsize, RARE, Bank, Pacific Western Bank, Federal Deposit Insurance Corporation, Autonomous Research, U.S, Thomson Locations: Banc, California, Los Angeles, U.S, Bengaluru, New York
☆ JPMorgan's profit jumps on interest income boost from First Republic deal
  + stars: | 2023-07-14 | by ( Niket Nishant Nupur Anand | Niket Nishant | Nupur Anand | ) www.reuters.com   time to read: +3 min
July 14 (Reuters) - JPMorgan Chase (JPM.N) reported a bigger-than-expected jump in second-quarter profit as it earned more from borrowers' interest payments and benefited from the purchase of First Republic Bank. The bank bought a majority of failed First Republic Bank's assets in a government-backed deal in May after weeks of industry turbulence. That bolstered its net interest income (NII), which measures the difference between what banks earn on loans and pay out on deposits. The bank's NII, which has also been gaining from high interest rates, was $21.9 billion, up 44%, or up 38% excluding First Republic. JPMorgan plans to cut around 500 jobs across different divisions, a source familiar with the matter told Reuters in May.
Persons: JPMorgan Chase, Jamie Dimon, Octavio Marenzi, Dimon, Niket Nishant, Noor Zainab Hussain, Nupur Anand, Bansari Mayur, Lananh Nguyen, Saumyadeb Organizations: JPMorgan, First Republic Bank, First Republic, Wall, Investment, Reuters, Thomson Locations: Ukraine, Republic, Federal, Bengaluru, New York
☆ JPMorgan tops Wall St forecasts, winning business as crisis roils industry
  + stars: | 2023-04-14 | by ( Niket Nishant Nupur Anand | Niket Nishant | Nupur Anand | ) www.reuters.com   time to read: +4 min
[1/2] Signage is seen at the JPMorgan Chase & Co. New York Head Quarters in Manhattan, New York City, U.S., June 30, 2022. While the crisis is not over yet, CEO Jamie Dimon said he expected the tumult from bank failures in March to eventually pass. The U.S. consumer and the economy remain robust, Dimon said, while cautioning that the banking crisis could turn lenders more conservative and impact consumer spending. "However, the storm clouds that we have been monitoring for the past year remain on the horizon, and the banking industry turmoil adds to these risks." It is expected to remain flat for the rest of 2023, the executives said.
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