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☆ The portfolio manager whisperers
▼ + stars: | 2024-05-03 | by ( Alex Morrell | ) www.businessinsider.com time to read: +24 min

AdvertisementHistorically, a hedge fund's chief investment office or senior portfolio manager was responsible for vetting and wooing key investment hires. They can also help hedge funds save on outside recruiting costs, which can add up to tens of millions a year. Hedge funds targeted institutional salespeople at investment banks with exposure to hedge funds, as well as asset allocators with chops in portfolio-manager selection and due diligence. Assets at multimanager hedge funds have boomed since 2018. The principle may work for fictional baseball diamonds, but the reality at hedge funds is more complicated.

Persons: Taylor Swift, Travis Kelce, Goldman Sachs, —, That's, headhunter who's, liken, Nick Saban's, Midlevel, headhunter, Ken Griffin, Michael Kovac, execs, Jennifer Blake, BD Thomas DeAngelis, Walleye Capital Paritosh Singh, Americas Michael Grad, BlueCrest Lindsay Previdi, Point72, Freestone Grove Matthew Giannini, Ken Griffin's, ExodusPoint, Brevan Howard, breakneck buildout, Michael Gelband —, Jonathan Hoffman, Alexander Phillips, ExodusPoint's, Millennium's Izzy Englander, noncompetes, Millennium Management Amanda Gordon, multimanagers, who've, Goldman, Schonfeld, Brevan Howard —, Neil Chriss, Harry Schwefel, Jonathan Brenner, Walleye's, Thomas DeAngelis, DeAngelis, Brenner, DeAngelis hasn't, Kansas City Chiefs Travis Kelce, Erick W, Rasco, Donald Trump's, America couldn't, Citadel execs Todd Barker, Daniel Morillo —, Jeff Runnfeldt, Bobby Jain, allocator Organizations: NFL, Business, Citadel, BD, University of Alabama, execs, Balyasny, Walleye Capital, Millennium, Americas, Freestone Grove, — Citadel, Walleye, BI, Costco, Millennium Management, Bloomberg, Getty, Investor, Barclays, Barclays Capital Solutions, Brookfield, Paloma Partners, Kansas City Chiefs, San Francisco 49ers, Allegiant, Getty Images, Black, Investors, ex, Fortress Locations: America, multimanagers, —, Hudson Bay, Schonfeld, Israel, multimanager, Europe, Middle East, Africa, Vegas, Balyasny

☆ Barclays appoints Geoffrey Belsher as new Canada CEO
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +1 min

Barclays Bank logo is seen in this illustration taken March 12, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 13 (Reuters) - Barclays (BARC.L) on Friday named investment banking veteran Geoffrey Belsher as chairman and country chief executive officer for Canada, effective Oct. 16. Belsher has previously held senior role in Canadian Imperial Bank of Commerce (CM.TO). He was also the president of Canadian operations of Barclays Capital and its predecessor Lehman Brothers Canada, according to the company's statement. Belsher would be based in Toronto and report to CEO of Americas Richard Haworth and the global co-heads of investment banking Cathal Deasy and Taylor Wright.

Persons: Dado Ruvic, Geoffrey Belsher, Belsher, Richard Haworth, Cathal Deasy, Taylor Wright, Bruce Rothney, Pritam Biswas, Shilpi Majumdar Organizations: Barclays Bank, REUTERS, Barclays, Canadian Imperial Bank of Commerce, Barclays Capital, Lehman Brothers Canada, Citigroup, Jefferies Financial, Reuters, Thomson Locations: Canada, Toronto, U.S, Bengaluru

☆ US Steel to explore strategic alternatives after unsolicited bids
▼ + stars: | 2023-08-13 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

FILE PHOTO: Steel workers at U.S. Steel Granite City Works in Granite City, Illinois, U.S., May 24, 2018. REUTERS/Lawrence Bryant/File Photo(Reuters) -United States Steel said on Sunday it is initiating a formal review to evaluate strategic alternatives for the steel producer after receiving multiple unsolicited bids for part or all of its business. The review was begun after the steel producer received “multiple unsolicited proposals that ranged from the acquisition of certain production assets to consideration for the whole company,” CEO David Burritt said in a statement, without disclosing details about the strategic alternatives. Barclays Capital and Goldman Sachs are serving as financial advisors to U.S. Steel, while Milbank LLP and Wachtell, Lipton, Rosen & Katz are acting as legal advisors, the steel producer said. U.S. Steel also expects to complete about $75 million of repurchases of common stock in the second quarter under its existing $500 million stock buyback authorization.

Persons: Lawrence Bryant, David Burritt, Goldman Sachs, Milbank, Lipton, Katz Organizations: U.S . Steel, U.S . Steel Granite City, REUTERS, United States Steel, Barclays Capital, Milbank LLP, Wachtell, Rosen, . Steel Locations: U.S . Steel Granite, Granite City , Illinois, U.S

☆ U.S. Steel explores options after rejecting $7.3 billion offer from Cleveland-Cliffs
▼ + stars: | 2023-08-13 | by ( Jyoti Narayan | Akanksha Khushi | ) www.reuters.com time to read: +3 min

(Reuters) -United States Steel Corp on Sunday launched a formal review of its strategic options, after rebuffing a takeover offer from rival steelmaker Cleveland-Cliffs Inc. FILE PHOTO: Steel workers at U.S. Steel Granite City Works in Granite City, Illinois, U.S., May 24, 2018. REUTERS/Lawrence Bryant/File PhotoThe unsolicited cash-and-stock offer from Ohio-based Cliffs values U.S. Steel at about $7.3 billion, representing a 43% premium to its closing price on Friday. Cliffs said its offer to acquire U.S. Steel had received the support of the United Steelworkers union, which is North America’s largest steel industry union. In a separate statement later Sunday, U.S. Steel confirmed it received an offer from Cliffs and other interested parties.

Persons: rebuffing, steelmaker, Lawrence Bryant, ”, Lourenco Goncalves, Davis Polk, Milbank, Lipton, Katz Organizations: Reuters, United States Steel Corp, Sunday, Cliffs, U.S . Steel, U.S . Steel Granite City, REUTERS, Steel, U.S, China . U.S . Steel, AK Steel Holding Corp, United Steelworkers, Company, UBS, Wardwell, . Steel, Barclays Capital, Goldman Sachs Group, Milbank LLP, Wachtell, Rosen Locations: steelmaker Cleveland, U.S . Steel Granite, Granite City , Illinois, U.S, Ohio, China . U.S, steelmaker, North, Wells Fargo, J.P.Morgan, Cleveland

☆ US Steel receiving acquisition offers as company promises to maximize stockholder value
▼ + stars: | 2023-08-13 | by ( Jennifer Korn | ) edition.cnn.com time to read: +2 min

New York CNN —United States Steel Corp. (X) is considering a sale after fielding acquisition offers, according to a news release Sunday from the company. The steel producer is under a formal review process after “receiving multiple unsolicited proposals” for both specific assets and the entire firm, the release announced. The company and the rest of the domestic steel industry were supposed to get help from a 25% tariff on steel imports put in place in 2018 by the Trump administration. Prices retreated and problems returned to the industry thanks to stockpiling, as well as slowdowns in the auto, energy and construction sectors. The drop in demand, combined with the increased American production, caused a glut in supply and a sharp drop in prices leaving the steel industry hurting in the years since.

Persons: ” David Burritt, Goldman Sachs, Milbank, Wachtell, Lipton, Katz, Donald Trump, Trump, we’ve, Burritt Organizations: New, New York CNN — United States Steel Corp, “, Steel’s, CNN, Barclays Capital, Rosen, US Steel Corp, US Steel Locations: New York, China

☆ Barclays downgrades a string of retail stocks as its hopes for a V-shaped recovery fade
▼ + stars: | 2023-05-02 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +3 min

Consumers across all income levels are pulling back on spending, according to a Barclays Capital promotions tracker, prompting analyst Adrienne Yih to downgrade a host of retail stocks. However, Yih said, the pace of sales and discounting suggests that this scenario — a V-shaped recovery — is now less likely. FIGS 6M mountain Barclays downgraded Figs shares to underweight from equal weight. Figs shares shed 6%, Canada Goose fell more than 5% and Victoria's Secret was down more than 3%. CPRI YTD mountain Capri shares have fall 31% since the year started.

☆ These smaller stocks have nearly 30% upside, according to Barclays
▼ + stars: | 2023-04-26 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Although small-cap stocks have taken a hit in recent weeks, Barclays Capital has several picks in the sector that it expects to have significant upside. The following names show strong upside potential, with a median upside to price target of 28%. Powell has a price target of $24 on the REIT, which represents 52% upside from where shares closed on Tuesday. Barclays sees an upside of 37% for the stock since Tuesday's close. Retailer Dick's Sporting Goods , water management products manufacturer Advanced Drainage Systems and US Foods are companies Barclays expects to benefit from expanding margins through strong sales growth and declining costs.

☆ What to watch for in the markets in the week ahead: Monster tech earnings, then sell in May?
▼ + stars: | 2023-04-21 | by ( Scott Schnipper | ) www.cnbc.com time to read: +6 min

More than one third (35%) of the S & P 500 reports earnings next week — including megacaps Microsoft, Alphabet, Meta Platforms and Amazon — versus less than 12% in the week just ended and only 2% last week. So far this quarter, S & P 500 earnings are running 4.7% below the same period a year ago, Refinitiv data shows. Back then, the S & P 500 fell 19.4% from its April high to a low on October 3. Meanwhile, next week is the last full trading week before Wall Street's old adage to "sell in May and go away" takes hold. ET: FHFA Home Price index (February); S & P Case-Shiller home price indexes (February) 10:00 a.m.

☆ Barclays names 6 'cheap, under-owned' UK stocks to buy, saying 2 offer more than 50% upside
▼ + stars: | 2023-01-30 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Barclays Capital has named six London-listed stocks to buy as it believes the U.K. stock market is currently "cheap" and "under-owned." Two of the investment bank's picks — Drax Group and IG Holdings — are also predicted to rise by more than 50% in the next 12 months, thanks to several policy tailwinds. Drax Group Drax, which runs one of the last remaining biomass and coal-fueled power stations in the U.K., is one of Barclays' preferred stocks. IG Group Shares of stockbroker IG Group could rise by 55% over the next year to £12 a share, Barclays analysts have said. The investment bank believes a high-interest rate environment allows the stockbroker to earn interest on a customer's deposit, further increasing its profit margins.

☆ Shell unit to acquire EV charging firm Volta for about $169 mln
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +1 min

Jan 18 (Reuters) - Volta Inc (VLTA.N) said on Wednesday that a Shell Plc (SHEL.L) subsidiary would take over the electric vehicle (EV) charging network operator in an all-cash deal valued at about $169 million. Shell USA Inc will acquire all outstanding shares of Class A common stock of Volta for 86 cents apiece in cash in a deal that is expected to close in the first half of the year, Volta said. Shell and other companies such as France's EDF (EDF.PA) and Norway's Statkraft [RIC:RIC:STATKF.UL] have been investing in EV charging infrastructure to cash in on the growing demand for EVs. As part of the deal, Shell USA will also provide loans to Volta to help the company through the closing of the deal. Goldman Sachs and Barclays Capital served as advisers to Volta, while Shearman & Sterling LLP served as its legal adviser.

☆ Wall Street banks including Bank of America and Goldman Sachs fined $1.8 billion over failures in monitoring how staff used personal phones to talk about work
▼ + stars: | 2022-09-28 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Wall Street banks have been fined for not monitoring how staff use their phones to talk about work. The offences involved employees ranging senior executives to debt and equity traders. The offences involved employees ranging from supervisors and senior executives to junior investment bankers and debt and equity traders. This included one senior investment banker who had sent and received "tens of thousands" of off-channel text messages, concerning things including investment strategy and client meetings, the SEC said. Each company had failed to retain "hundreds if not thousands of business-related communications," including some connected to their commodities and swaps businesses, the CFTC said.

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