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The moves add to a trio of Barclays U.S. investment bankers that UBS announced it hired last month. Many Credit Suisse bankers are based in the United States. Sources told Reuters last month that UBS plans to retain only a small number of Credit Suisse senior bankers with strong client relationships. At Barclays, Braham was global chair of investment banking for technology, while Hardegree served as vice chair and head of technology M&A. Williams, Meyer and Tittle were managing directors in the investment banking group.

☆ Klaviyo files confidentially for U.S. IPO -sources
▼ + stars: | 2023-05-12 | by ( Echo Wang | ) www.reuters.com time to read: +2 min

NEW YORK, May 12 (Reuters) - Data and marketing automation firm Klaviyo Inc confidentially submitted paperwork on Friday with U.S. regulators for an initial public offering (IPO) in New York, according to people familiar with the matter. While terms of the IPO have not yet been set, the Boston-based company is mulling a raise of at least $750 million in the listing, one of the sources said. The Wall Street Journal had reported in April that Klaviyo was preparing for an IPO. With the IPO registration, Klaviyo becomes the second high-profile name in recent weeks to press ahead with an offering, even as stock market volatility and economic uncertainty has put many other IPO hopefuls off. SoftBank Group Corp's (9984.T) Arm Ltd filed confidentially for its stock market listing in April, Reuters reported.

By attributing that knowledge to JPMorgan, Epstein's accusers might show that JPMorgan "actually knew" about the venture or "recklessly disregarded" its existence, Rakoff said. JPMorgan is separately suing Staley to cover its losses in the two lawsuits it faces, and forfeit eight years of pay. 22-10018; Jane Doe 1 v JPMorgan Chase & Co, No. 22-10019; Government of the U.S. Virgin Islands v JPMorgan Chase Bank NA, No. 22-10904; and JPMorgan Chase Bank NA v Staley, in Nos.

This is weighing on how much the private equity firms are offering to buy companies. So far, bids for Subway have ranged between $8.5 billion and $10 billion, one of the sources said. This is a more expensive route that private equity firms may not opt for, three of the sources added. To be sure, Subway is allowing bidders to use any financing route they want, as long as they can show they can secure committed financing. TPG and Bain were part of a group that owned Burger King when John Chidsey, who is now Subway's CEO, headed that burger fast-food restaurant chain.

☆ Barclays Profit Lifted by U.S. Credit-Card Business
▼ + stars: | 2023-04-27 | by ( Josh Mitchell | ) www.wsj.com time to read: 1 min

Barclays combines a major investment bank with substantial consumer, credit-card and business-banking operations. Photo: PHOTO: Justin Tallis/Agence France-Presse/Getty ImagesBarclays PLC ’s profit rose robustly in the first quarter despite banking turmoil that roiled both sides of the Atlantic. Profit grew 27% in the first three months of the year from a year earlier, to £1.78 billion, or about $2.22 billion, the British bank said Thursday. Analysts had expected a profit of £1.45 billion, according to a Barclays poll.

☆ European shares edge lower as banking jitters resurface
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +1 min

April 27 (Reuters) - European shares edged lower on Thursday, despite a raft of positive corporate earnings, as troubles at U.S. lender First Republic Bank continued to rattle investors over the global banking sector. The pan-European STOXX 600 index (.STOXX) was down 0.1% by 0720 GMT. The index was dragged lower by media shares (.SXMP), which dropped 1.6%, while Universal Music Group (UMG.AS) fell 4% after it posted a slump in its first-quarter core profit. Worries over the banking sector unnerved investors as shares of First Republic Bank (FRC.N) sank almost 30% on Wednesday, hitting a record low for the second consecutive day. Still, banking shares (.SX7P) rose 0.4%, led by Barclays Plc (BARC.L) that climbed 2.4% on an estimate-beating quarterly profit, as a resilient performance from its consumer bank offset pressure on key other business lines.

☆ Barclays posts 27% rise in net profit for the first quarter, beats expectations
▼ + stars: | 2023-04-27 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

The headquarters of Barclays Plc beyond the West India Quay Docklands Light Railway station in the Canary Wharf financial district in London, UK, on Monday, March 20, 2023. LONDON — Barclays on Thursday reported net profit of £1.78 billion ($2.2 billion) for the first quarter, beating expectations and coming in 27% higher year-on-year. A consensus Reuters poll of analysts forecast net profit at £1.432 billion. The income of Barclays UK was up 19% due to improved net interest income. In its previous results, Barclays said it set aside £1.2 billion for such charges last year, as its customers struggled with cost pressures.

SummarySummary Companies Britain's house prices show weak rise in AprilBunelm gains on Stifel upgradeMedica Group surges on buyout dealFTSE 100 down 0.2%, FTSE 250 adds 0.2%April 24 (Reuters) - London's FTSE 100 fell on Monday as energy stocks and base metal miners lost ground on weak demand outlook, while caution set in ahead of a busy week of earnings. Oil giants BP (BP.L) and Shell (SHEL.L) lost 0.9% and 1.2%, respectively, as crude prices fell more than 1% on concerns about rising interest rates, global economic slowdown and fuel demand outlook. The FTSE 100 (.FTSE) fell 0.2%, while the mid-cap FTSE 250 (.FTMC) was up 0.2%, as of 0821 GMT. Growth companies, including Microsoft Corp (MSFT.O), Google parent Alphabet Inc (GOOGL.O) and Amazon.com Inc (AMZN.O), are scheduled to report their earnings this week. The FTSE 100 logged its fifth consecutive weekly rise on Friday, marking its longest streak of weekly gains in more than a year, buoyed by commodity stocks, even as weak global economic growth outlook keeps investor sentiment subdued.

☆ Barclays Names HSBC Executive as Compliance Chief
▼ + stars: | 2023-04-21 | by ( Mengqi Sun | ) www.wsj.com time to read: 1 min

Barclays is navigating regulatory probes and a downturn in deals. Photo: Jason Alden/Bloomberg NewsBarclays PLC has hired a new chief compliance officer from rival HSBC Holdings PLC, as the bank navigates a deal-making downturn and continuing regulatory investigations into former Chief Executive Jes Staley ’s ties with convicted sex offender Jeffrey Epstein . London-based Barclays said Thursday that it has named Kirsty Everett as its new compliance chief, ending a few months of search. Ms. Everett is joining from HSBC, where she was group head of compliance after previously holding other senior compliance roles. She will start July 1, subject to regulatory approval, Barclays said.

NEW YORK, April 14 (Reuters) - Societe Generale SA (SOGN.PA) agreed to pay $105 million to settle U.S. investor litigation accusing the French bank of violating antitrust law by conspiring with rivals to rig Euribor, a key European interest rate benchmark. A preliminary settlement was filed late Friday with the U.S. District Court in Manhattan, and requires a judge's approval. Societe Generale denied wrongdoing in agreeing to settle, court papers show. The case is Sullivan et al v. Barclays Plc et al, U.S. District Court, Southern District of New York, No. Reporting by Jonathan Stempel in New York, Editing by Rosalba O'BrienOur Standards: The Thomson Reuters Trust Principles.

NEW YORK, April 14 (Reuters) - Societe Generale SA (SOGN.PA) agreed to pay $105 million to settle U.S. investor litigation accusing the French bank of violating antitrust law by conspiring with rivals to rig Euribor, a key European interest rate benchmark. A preliminary settlement was filed late Friday with the U.S. District Court in Manhattan, and requires a judge's approval. If approved, the accord would mean investors have obtained $651.5 million of settlements with seven banks. Societe Generale denied wrongdoing in agreeing to settle, court papers show. The case is Sullivan et al v. Barclays Plc et al, U.S. District Court, Southern District of New York, No.

NEW YORK, April 12 (Reuters) - A new version of a lawsuit accusing JPMorgan Chase & Co (JPM.N) of aiding in Jeffrey Epstein's sex trafficking includes claims that the bank ignored pleas to cut ties with the financier, and that someone joked about whether Epstein knew Miley Cyrus. In a complaint made public on Wednesday, the U.S. Virgin Islands said JPMorgan compliance officials urged the bank to sever ties with Epstein years before it did so in 2013. The cases in the U.S. District Court, Southern District of New York are: Jane Doe 1 v JPMorgan Chase & Co, No. 22-10019; Government of the U.S. Virgin Islands v JPMorgan Chase Bank NA, No. 22-10904; and JPMorgan Chase Bank NA v Staley, in Nos.

JPMorgan sued Staley last month to have him cover its losses in both lawsuits and forfeit eight years of compensation. Epstein killed himself at age 66 in August 2019 in a Manhattan jail while awaiting trial for sex trafficking. The cases in the U.S. District Court, Southern District of New York are: Jane Doe 1 v JPMorgan Chase & Co, No. 22-10019; Government of the U.S. Virgin Islands v JPMorgan Chase Bank NA, No. 22-10904; and JPMorgan Chase Bank NA v Staley, in Nos.

"Jane Doe herself has directly accused him of horrific sexual misconduct and, if true, he must be held accountable." In a separate letter, lawyers for the Epstein accusers also supported severing the Staley case, but for a different reason. 22-10018; Jane Doe 1 v JPMorgan Chase & Co, No. 22-10019; Government of the U.S. Virgin Islands v JPMorgan Chase Bank NA, No. 22-10904; and JPMorgan Chase Bank NA v Staley, in Nos.

☆ Adani trumpets stable ties to global banks in bid to ease investor worries, document shows
▼ + stars: | 2023-04-05 | by ( Aditya Kalra | ) www.reuters.com time to read: +3 min

The document, which was reviewed by Reuters, did not elaborate on how the lenders reaffirmed their commitment to the Adani group. Adani group did not respond to a request for comment. Mitsubishi UFJ Financial Group Inc (MUFG) (8306.T), Sumitomo Mitsui Financial Group Inc's (8316.T) SMBC unit, Mizuho Financial Group (8411.T), Standard Chartered (STAN.L) and Deutsche Bank (DBKGn.DE) did not immediately respond. CONCERNS ABOUT DEBTThe Hindenburg report had sparked concern among investors about banks' exposures to the Adani group. Now, 39% of Adani's debt is currently in the form of bonds, 29% is from global banks and 32% comes from public or private banks in India, the Adani document added.

☆ SVB Collapse Complicates Banks’ Efforts to Unload More Than $25 Billion of Junk Debt
▼ + stars: | 2023-04-02 | by ( Alexander Saeedy | Laura Cooper | ) www.wsj.com time to read: 1 min

Silicon Valley Bank had to sell bonds at a loss. Recent turmoil in the banking industry has made the already-difficult task of selling off tens of billions of risky buyout debt even harder for Wall Street firms. Bank of America Corp., Barclays PLC, Morgan Stanley and others together currently hold $25 billion to $30 billion of “hung debt” on their balance sheets, according to leveraged-finance analytics firm 9fin. The unsold debt is tied to leveraged buyouts that banks agreed to finance before worsening credit conditions last year sapped investor appetite for the paper.

March 28 (Reuters) - Jamie Dimon, the chief executive of JPMorgan Chase & Co (JPM.N), will be interviewed under oath over the bank's relationship with late sex offender and former client Jeffrey Epstein, a lawyer involved in the case said on Tuesday. Epstein had been a JPMorgan client from 2000 to 2013 - five years after he pleaded guilty to a Florida prostitution charge. He had been friendly with Epstein but expressed regret for the relationship and has denied any involvement in Epstein's illegal activity. Deutsche Bank AG (DBKGn.DE), where Epstein was a client from 2013 to 2018, is also being sued by the financier's accusers. Epstein killed himself in a Manhattan jail cell at age 66 in August 2019 while awaiting trial for sex trafficking.

Epstein had been a JPMorgan client from 2000 to 2013, with the last five years coming after he had pleaded guilty to a Florida prostitution charge. The bank is also suing Jes Staley, a former private banking chief and later Barclays Plc (BARC.L) chief executive who had been friendly with Epstein. JPMorgan wants Staley to reimburse it for eight years of compensation and damages it might incur in the other lawsuits. Deutsche Bank AG (DBKGn.DE), where Epstein was a client from 2013 to 2018, is also being sued by the financier's accusers. Epstein killed himself in a Manhattan jail cell at age 66 in August 2019 while awaiting trial for sex trafficking.

[1/2] A J.P. Morgan logo is seen outside the JPMorgan bank offices in Paris, France, January 27, 2023. REUTERS/Sarah MeyssonnierNEW YORK, March 20 (Reuters) - A U.S. judge said on Monday JPMorgan Chase & Co (JPM.N) and Deutsche Bank AG (DBKGn.DE) must face lawsuits accusing them of enabling Jeffrey Epstein's sex trafficking. Rakoff's decision gives the plaintiffs a chance to prove that JPMorgan and Deutsche Bank knowingly benefited from involvement in Epstein's sex trafficking. Epstein had been a client of JPMorgan from 2000 to 2013, and Deutsche Bank from 2013 to 2018. The cases in the U.S. District Court, Southern District of New York are: Jane Doe 1 v Deutsche Bank AG et al, No.

☆ Former JPMorgan executive, ex-Barclays CEO Staley to be deposed next week
▼ + stars: | 2023-03-17 | by ( Tatiana Bautzer | ) www.reuters.com time to read: +2 min

Lawyers for the bank said during a hearing on Thursday they would depose Staley, who also served as Barclays Plc's (BARC.L) chief executive, on March 23 and 24. JPMorgan has accused Staley, its former head of private banking, of "intentional and outrageous conduct" in concealing information about Epstein, with whom he had been friends. The lawsuit seeks to force Staley to return eight years of compensation and reimburse JPMorgan for damages the company might incur in the other lawsuits. Last week, Rakoff had ordered the bank to hand over more documents concerning its CEO Jamie Dimon. A separate trial involving an Epstein victim suing Deutsche Bank AG (DBKGn.DE) may also be rescheduled.

"Jamie Dimon knew in 2008 that his billionaire client was a sex trafficker," attorney Mimi Liu told Manhattan U.S. District Judge Jed Rakoff at a hearing late Thursday, referring to the year Epstein was first criminally charged with sex crimes. "If Staley is a rogue employee, why isn't Jamie Dimon?" The lawyer continued: "Staley knew, Dimon knew, JPMorgan Chase knew" about Epstein's criminal conduct. Simon Dawson | Bloomberg | Getty ImagesA lawyer for JPMorgan disputed those arguments, "in particular the point about Jamie Dimon having any specific knowledge." Wexler also said, "Jamie Dimon has no recollection of reviewing the Epstein accounts."

The Wall Street bank also wants Staley to repay all compensation from 2006 to 2013. Staley has acknowledged having been friendly with Epstein, but expressed regret for their relationship and denied knowing about the financier's alleged crimes. Epstein killed himself in a Manhattan jail cell in August 2019 while awaiting trial on sex trafficking charges. Staley resigned as Barclays' chief executive in November 2021 amid a dispute with British financial regulators examining his ties to Epstein. The cases are JPMorgan Chase Bank NA v Staley, U.S. District Court, Southern District of New York, No.

☆ Morning Bid: Job runes, China offer sliver of rate hope
▼ + stars: | 2023-03-09 | by ( ) www.reuters.com time to read: +5 min

That certainly ups the ante for Friday's monthly employment report and next week's consumer price index releases. But the rate at which people were leaving jobs voluntarily was falling and layoffs were up. Another pause for thought came from China's February inflation numbers that show annual consumer price rises slowed to just 1%, the lowest rate in a year. More broadly on Thursday, interest rates markets retained their dramatic re-pricing and relatively resilient stock markets tilted negative again. The implied end-2023 rate is now above 5.50% - more than a full percentage point above where it was assumed on February 1.

☆ Barclays cuts 2023 oil price forecasts on resilient Russian output
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +2 min

Companies Barclays PLC FollowMarch 8 (Reuters) - Barclays cut its 2023 oil price forecasts on Wednesday, due in part to more resilient output from Russia than expected, and said the market could flip into a deficit in the second half of the year due to growing demand in China. China's oil demand could increase by 500,000 to 600,000 bpd in 2023, Haitham Al Ghais, the secretary general of the Organization of the Petroleum Exporting Countries (OPEC), said on Tuesday at the CERAWEEK conference, with global oil demand seen rising by 2.3 million bpd in 2023. Barclays, meanwhile, revised its 2023 demand estimate 150,000 bpd higher due in part to a somewhat improved growth outlook for the United States and Europe. It sees a 900,000 bpd increase in Chinese demand this year. The Group of Seven economies, the European Union and Australia agreed a price cap on Russian oil late last year, aiming to deprive Moscow of funds for its war in Ukraine.

[1/3] Jamie Dimon, Chairman of the Board and Chief Executive Officer of JPMorgan Chase & Co., gestures as he speaks during an interview with Reuters in Miami, Florida, U.S., February 8, 2023. Lawyers for the U.S. Virgin Islands did not immediately respond to requests for comment. The U.S. Virgin Islands is seeking damages from JPMorgan for missing red flags about Epstein's misconduct on Little St. James, a private island he owned there. Dimon and Staley, who later served as Barclays Plc's (BARC.L) chief executive, are not defendants in either lawsuit. The case is Government of the U.S. Virgin Islands v JPMorgan Chase Bank NA, U.S. District Court, Southern District of New York, No.

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