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Search resuls for: "Citizens Financial Group"


2 mentions found


☆ Gone are the days of chunky bonuses and salary increases. Wall Street's top brass are ready to trim their workforces as annual staff cuts return.
  + stars: | 2022-09-23 | by ( Aaron Weinman | ) www.businessinsider.com   time to read: +5 min
It's a shift from this time last year, when junior bankers scored significant pay bumps, dealmaking reached record-breaking highs, and investment bankers prepared themselves for some of the chunkiest bonuses they'd ever received. Per this story from Bloomberg, however, the layoffs should not be as severe as what Wall Street experienced after market crashes in 1987 and 2008. For many, the return of staff cuts is kind of a return to normalcy. Fabrice Coffrini/AFP via Getty Images2. Credit Suisse is planning on splitting its investment bank into three parts, according to the Financial Times. The US Securities and Exchange Commission will let Wall Street keep payment-for-order flow, per Bloomberg.
☆ Loans Are Cheaper Than Bonds for Some Highly Rated Companies
  + stars: | 2022-09-21 | by ( Nina Trentmann | ) www.wsj.com   time to read: +7 min
Some highly rated companies are turning to term loans instead of bonds for their financing needs, taking advantage of cheaper pricing as banks have been slower to adjust to rising interest rates than the credit markets. Highly rated companies raised $998.8 billion in bonds in the U.S. this year through Monday, compared with $177.9 billion in term loans, according to Refinitiv, a data provider. For all of last year, fundraising through bonds amounted to $1.46 trillion versus $236.7 billion for term loans for investment-grade-rated companies. Term loans often have a shorter duration than bonds, with many of them ranging from three to five years. Term loans tend to be secured,” Mr. Holtz said, pointing to the mixture of bonds and term loans that make up the company’s capital structure.
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