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☆ Corporate borrowing is on a roll. Goldman's debt financing head breaks down the trends.
▼ + stars: | 2024-11-19 | by ( Reed Alexander | Emmalyse Brownstein | ) www.businessinsider.com time to read: +7 min

The return of DCM activity signals that borrowers are gearing up for corporate dealmaking to return. Goldman's global head of financing broke down the trends in an interview with BI. On Wall Street, corporate borrowing is on a roll. Many of those clients are large companies or organizations being advised by Goldman's investment bankers, which means the DCM business is directly reliant on deal flow. AdvertisementGoldman CEO David Solomon ran Goldman's leveraged finance group before taking over its financing business, including debt and equity capital markets and derivatives.

Persons: Goldman Sachs, Donald Trump, Vivek Bantwal, Bantwal, We've, we've, Goldman, David Solomon, David Solomon Jeenah Moon, Denis Coleman, refinancings, weren't Organizations: University of Pennsylvania's Wharton School, Getty, Underwriters, Wall, Bloomberg, Getty Images Goldman, Goldman, Blue

☆ Investment banking has made a multibillion-dollar rebound, but it's too early to pop the Champagne
▼ + stars: | 2024-10-18 | by ( Hayley Cuccinello | Emmalyse Brownstein | ) www.businessinsider.com time to read: +7 min

Major banks like Goldman Sachs walloped Wall Street expectations thanks to dealmaking fees. Investment banking has made a comeback, and bigger bonuses are in the cards, too. The biggest banks on Wall Street reported a huge boost in dealmaking fees this quarter after a two-year slump. Investment bank revenue surged 30% on average at Goldman Sachs, JPMorgan, Bank of America, Citigroup, and Morgan Stanley, according to Wells Fargo analyst Mike Mayo. Morgan Stanley's investment bank revenue surged 56% year over year to $1.46 billion, beating Wall Street expectations.

Persons: Goldman Sachs, —, Morgan Stanley, Wells, Mike Mayo, Sharon Yeshaya, Morgan, Global's Nathan Stovall, corporates, Stovall, David Ellison's Skydance, JPMorgan's Jamie Dimon, David Solomon, Mayo, Cole Smead, There's, Jon Gray, anecdotally, Gray, David Stowell, Stowell, I'm, it's, Alan Johnson Organizations: Investment, Service, Wall, JPMorgan, Bank of America, Citigroup, Citi, Mars, Paramount, David Ellison's Skydance Media, Wall Street, Smead Capital Management, Blackstone, Kellogg School of Management, Northwestern University, underwriters, Johnson Associates Locations: Wells Fargo, Mayo

☆ Long wait for IPO market to reopen is over: UBS
▼ + stars: | 2024-10-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLong wait for IPO market to reopen is over: UBSGareth McCartney, the global co-head of equity capital markets at UBS, discusses the current IPO market.

Persons: UBS Gareth McCartney Organizations: UBS

☆ Very excited about 2025 as an IPO year, says Vista Equity's Ashley MacNeill
▼ + stars: | 2024-10-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailVery excited about 2025 as an IPO year, says Vista Equity's Ashley MacNeillAshley MacNeill, Vista Equity head of equity capital markets, joins CNBC's 'Squawk on the Street' to discuss why she thinks the IPO market will bounce back in 2025, what she's looking for in companies using AI, and more.

Persons: Vista Equity's Ashley MacNeill Ashley MacNeill Organizations: Vista Equity

☆ Caught cold by UniCredit’s swoop on Commerzbank, Germany will want to avoid a national embarrassment
▼ + stars: | 2024-09-25 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +4 min

A protestor holds a placard with a slogan reading "Stop Merger Horror" during a union demonstration outside the Commerzbank AG headquarters in Frankfurt, Germany, on Tuesday, Sept. 24, 2024. It follows UniCredit's move to take a 9% stake in Commerzbank earlier this month. watch nowScholz on Monday criticized UniCredit's decision to up the ante on Commerzbank, describing the move as an "unfriendly" and "hostile" attack, Reuters reported. Commerzbank's Deputy Chair Uwe Tschaege, meanwhile, reportedly voiced opposition to a potential takeover by UniCredit on Tuesday. The Commerzbank AG headquarters, in the financial district of Frankfurt, Germany, on Thursday, Sept. 12, 2024.

Persons: it's, UniCredit, Octavio Marenzi, Opimas, CNBC's, Olaf Scholz, He's, Marenzi, Scholz, UniCredit's, Uwe Tschaege, Tschaege, Andrea Orcel, Stefan Wittman, Germany's Scholz, Craig Coben, Coben, Emanuele Cremaschi Organizations: Commerzbank, Bloomberg, Getty, CNBC, Reuters, UniCredit, BBVA, Banco Sabadell, Bank of America, AG Locations: Frankfurt, Germany, Berlin, Milan, Commerzbank, Spanish

☆ UniCredit's stake in Commerzbank puts Europe's vision of a banking union in focus: Analyst
▼ + stars: | 2024-09-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUniCredit's stake in Commerzbank puts Europe's vision of a banking union in focus: AnalystCraig Coben, former global head of equity capital markets at Bank of America, says Europe's vision of a banking union is what's at stake when it comes to discussing UniCredit's stake in Commerzbank.

Persons: Craig Coben Organizations: Bank of America Locations: Commerzbank

☆ Investment banking is finally gaining steam. Here's why JPMorgan's Jeremy Barnum says it might not last.
▼ + stars: | 2024-07-12 | by ( Reed Alexander | ) www.businessinsider.com time to read: +7 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Barnum also said the bank's debt capital markets jump was due more to refinancing than fundraising for deals and raised concerns about the future of IPOs. 'Down round' fears haunt the IPO marketOn public issuances, which are handled by the bank's equity capital markets business, Barnum said he would have expected stronger numbers in more normal times. "The regulatory overhang is there, remains there," on the advisory side of the business, Barnum said. Barnum suggested that the flow of capital into credit could be slowing because there isn't enough dealmaking to justify continued fundraising.

Persons: —, JPMorgan Chase, Wells, Jeremy Barnum, Barnum, it's, Jamie Dimon, Dimon, Tom Williams, Biden, It's, You've Organizations: Service, JPMorgan, Business, Federal Reserve, Inc, Getty, Dow Jones Industrial Locations: Wall, Wells Fargo, Israel, Gaza, East, Russia, Ukraine, Central Europe

☆ Affirm's CEO opens up about the buy-now, pay-later company's IPO and why he doesn't sweat when the stock slumps
▼ + stars: | 2024-07-09 | by ( Bianca Chan | ) www.businessinsider.com time to read: +6 min

Max Levchin, Affirm's CEO and a PayPal alum, shares advice for founders considering going public. As a buy-now, pay-later company, Affirm's business model was built on the promise of repayment as it enabled consumers to finance their online purchases. As the pipeline of IPOs starts to build up again, including the anticipated debut of Affirm's buy-now, pay-later rival Klarna, Business Insider spoke with Levchin about Affirm's IPO. It's not uncommon to see startups hiring executives such as a president or CFO in anticipation of going public. Since Affirm's CFO and chief legal officer largely spearheaded the IPO process, Levchin said he was left to focus on the company's short- and long-term plans for the capital.

Persons: Max Levchin, —, Levchin, Affirm's, he'd, PayPal, It's Organizations: Nasdaq, PayPal, Service, Business, underwriters

Following a long period of waiting, "the IPO market's back." That's according to Colin Stewart, Morgan Stanley's global head of technology equity capital markets. In an interview with CNBC's "TechCheck" on Monday, Stewart said 10 to 15 more tech companies could go public before the end of 2024, with an even "better year" in store for 2025. Morgan Stanley was the lead banker on the Reddit and Astera IPOs, positioning itself to collect roughly $37 million in total fees. Wall Street rival Goldman Sachs led the latest venture-backed tech IPO last week.

Persons: Colin Stewart, Morgan, CNBC's, Stewart, It's, we've, Reddit, Morgan Stanley, Astera, Goldman Sachs Organizations: Wall Street, New York Stock Exchange

☆ Wall Street gets its biggest investment-banking shakeup in years. Here are the key players making moves.
▼ + stars: | 2024-02-26 | by ( Reed Alexander | ) www.businessinsider.com time to read: +6 min

Read previewWall Street experienced a big shakeup on Monday when two big banks announced new leaders for their investment-banking units. Citi's hire comes just weeks after JPMorgan promoted Raghavan to the sole head of its deals business, forcing America's biggest bank by assets to regroup. Under Raghavan, JPMorgan rose to No. For the last decade, the 59-year-old has been CEO of the bank's commercial bank, dedicated to corporate lending, including to Silicon Valley startups and real-estate investors. In an internal memo announcing his new role, bank executives said he's "significantly" grown revenue in the region since he took over the region in 2019.

Persons: —, Viswas Raghavan, Raghavan, Jamie Dimon, Filippo Gori, Doug Petno, Filippo Gori —, Jane Fraser, Fraser, Merrill Lynch, Andy Sieg, Patrick T, Fallon, Raghavan Raghavan, Doug Petno Petno, Jennifer Piepszak, Troy Rohrbaugh, Piepszak, Marianne Lake, Rohrbaugh, he's, He'll, Sjoerd Leenart, Mary Erdoes, Reed Alexander Organizations: Service, Citigroup, America's, Business, JPMorgan, Citi, Financial Times, Banking & International, Citi Foundation, EMEA, Financial News, JPMorgan's, Corporate Banking Locations: Hong Kong, London, Europe, Africa, Fraser, EMEA, Silicon, Filippo Gori Gori, JPMorgan's Asia, Pacific

New York is the $1.35 trillion fund's only office outside mainland China besides Hong Kong. CIC asked Bai Xiaoqing, who was in charge of some of its private equity investments from Beijing, to move to New York for the North America head role, the sources said, requesting anonymity because the move has not been publicly announced. U.S. authorities have been especially suspicious of investments originating from entities close to China's communist government, like CIC. CIC is also a significant investor in U.S. private equity funds, as so-called alternative assets comprise almost half of its portfolio. One of its most prominent investments has been a $2.5 billion Goldman Sachs Group Inc (GS.N) private equity fund aimed at investing in companies that can benefit from closer U.S.-China ties.

Persons: Bai Xiaoqing, Zhang Hong, Bai, Zhang, Peng Chun, Larry Fink, Milken, Echo Wang, Roxanne Liu, Kane Wu, Greg Roumeliotis, Edwina Gibbs Organizations: China Investment Corp, North America, CIC, Foreign Investment, American Enterprise Institute, Public, Goldman Sachs Group Inc, China -, China - U.S . Industrial Cooperation Fund, Britain, BlackRock Inc, BlackRock, China's Ministry of Finance, Industrial, Commercial Bank of China, U.S . Treasury, Thomson Locations: North, New York, China, Hong Kong, Washington, Beijing, United States, U.S, China - U.S, BlackRock

The company logo of China International Capital Corporation Ltd (CICC), China’s first joint venture investment bank, is displayed at a news conference on the company's annual results in Hong Kong, China March 30, 2016. China is Brazil's largest trading partner, however Chinese investments in Brazil fell 78% in 2022, the Brazil-China Business Council (CEBC) said in August. "We believe that more Chinese investment will be willing to ... invest into the Latin America region, especially in Brazil," said Lin. "I don't remember when politics got so involved in daily business," Lin said, reflecting on her 21 years in business. However, there were still Chinese companies listing here, said Lin and China's securities regulator China Securities Regulatory Commission had pre-approved 20 Chinese ADRs.

Persons: China’s, Bobby Yip, Lindsay Lin, Lin, CICC, acquirer, Biden, Didi Global, we're, ” Lin, Megan Davies, Echo Wang, Diane Craft Organizations: China International Capital Corporation, REUTERS, Securities, China International Capital Corp, HK, Reuters NEXT, China Business Council, Monetary Fund, China Securities Regulatory Commission, Reuters, reuters, Thomson Locations: Hong Kong, China, Brazil, New York, America, Latin America, U.S, China's

☆ Russian gold miner Uzhuralzoloto announces IPO despite UK sanctions on owner
▼ + stars: | 2023-11-09 | by ( Anastasia Lyrchikova | ) www.reuters.com time to read: +2 min

Alfa Bank analysts valued UGC's share capital at 140.5-170.8 billion roubles ($1.53-1.86 billion). Britain imposed sanctions on 29 individuals and entities in Russia's gold and oil sectors on Wednesday, including Strukov and two of Russia's largest gold producers, Nord Gold and Highland Gold Mining, but not UGC itself. Britain's National Crime Agency (NCA) also issued an alert to financial institutions, warning them about Russian attempts to use gold to evade sanctions. Strukov said the IPO would allow UGC to reach more investors, diversify the shareholder structure and lower its debt burden. A string of small offerings has breathed some life into Russia's equity capital markets in recent months.

Persons: Uzhuralzoloto, Konstantin Strukov, Strukov, Anastasia Lyrchikova, Felix Light, Alexander Marrow, Mark Potter Organizations: UGC, Alfa Bank, Reuters, Nord, Highland Gold Mining, Crime Agency, Astra, Thomson Locations: Russia, Ukraine MOSCOW, Moscow, Britain, Ukraine, Nord Gold

A screen displays the trading information for Morgan Stanley on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., January 19, 2022. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsOct 27 (Reuters) - Morgan Stanley (MS.N) gave its incoming CEO Ted Pick and the two other executives considered for the top job one-time bonuses of $20 million each, the bank said in a filing on Friday. The three-decade Morgan Stanley veteran started his career at the bank and came up the ranks to run trading, equity capital markets and fixed income. It is unusual for Wall Street CEO candidates to stay on if they are not selected, and the bonuses offered at Morgan Stanley break from that tradition. Since becoming CEO in 2010, Gorman has transformed Morgan Stanley, creating a wealth management behemoth and making transformative acquisitions of broker E*Trade and asset manager Eaton Vance.

Persons: Morgan Stanley, Brendan McDermid, MS.N, Ted Pick, Pick, Andy Saperstein, Dan Simkowitz, James Gorman, Jan, Morgan, Gorman, Wells, Mike Mayo, Brian Moynihan, Jamie Dimon, Eaton Vance, Tatiana Bautzer, Lananh Nguyen, Manya, Anil D'Silva, Richard Chang Organizations: New York Stock Exchange, REUTERS, Wall Street, Reuters, Bank of America, JPMorgan Chase, Trade, Manya Saini, Thomson Locations: New York City, U.S, New York, Bengaluru

☆ Morgan Stanley's James Gorman wanted to pull off a rare feat: a bloodless succession. Wall Street thinks the bank may have done it, but it's too soon to tell.
▼ + stars: | 2023-10-26 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

The executive leadership team is viewed as a well-oiled machine with Morgan Stanley thriving compared to its megabank peers. Leaving Morgan Stanley would require going outside their comfort zone. Employees from these executives' righthand men and rank-and-file Morgan Stanley staffers may not welcome these changes. "You would expect everyone's guard to be raised at Morgan Stanley to monitor employee reaction and manage at least the best performers." Do you work for Morgan Stanley?

Persons: Morgan Stanley's James Gorman, Ted Pick, Dan Simkowitz, Andy Saperstein, Gorman, Glenn Shorr, Glenn Schorr, It's, Mike Mayo, they've, Mayo, Morgan Stanley, Pick's anointment, Pick, fides, Morgan, America's Ebrahim Poonawala, Poonwala, Stephen Biggar, Simkowitz, Saperstein, Let's, Schorr, Hayley Cuccinello Organizations: America's, Mitsubishi, Financial Times, Management Locations: Wells Fargo, Saperstein, Mayo, Simkowitz, hcuccinello@insider.com

☆ Morgan Stanley just picked its new CEO. Here's our take on the succession news
▼ + stars: | 2023-10-26 | by ( Morgan Chittum | ) www.cnbc.com time to read: +5 min

Morgan Stanley (MS) has finally named a successor to longtime CEO James Gorman — removing a big question mark for investors like us. Morgan Stanley said it's still on track to add $1 trillion in net new assets every three years. MS YTD mountain Morgan Stanley (MS) year-to-date performance Gorman is ready to hand over the reins after navigating years of uncertainty at the helm of the bank. Morgan Stanley needs a battle-tested exec who can navigate a murky operating environment, and Gorman said Pick fits the bill. Morgan Stanley shares have dropped about 15% year to date.

Persons: Morgan Stanley, James Gorman —, Ted Pick, Gorman, Jan, Pick, Jim Cramer, it's, James, we're, Ted, Andy Saperstein, Dan Simkowitz, Jim Cramer's, Jim Organizations: CNBC, Silicon Valley Bank, Getty Locations: shuttering, U.S, Silicon

☆ Five facts about Morgan Stanley's new CEO Ted Pick
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +1 min

People take photos by the Morgan Stanley building in Times Square in New York City, New York U.S., February 20, 2020. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsCompanies Morgan Stanley FollowNEW YORK, Oct 25 (Reuters) - Morgan Stanley (MS.N) chose Ted Pick to succeed its longtime leader James Gorman as CEO, effective Jan. 1. Here are five key facts about Pick, who was seen as the front runner before the announcement on Wednesday:1) Pick has been co-president of Morgan Stanley for the past two years. As head of the institutional securities group, he oversaw investment banking, equities, fixed income, capital markets and research. 4) After joining Morgan Stanley in 1990, Pick was promoted to managing director in 2002 and joined the management committee in 2008.

Persons: Morgan Stanley, Brendan McDermid, MS.N, Ted Pick, James Gorman, Pick, Nupur Anand, Lananh Nguyen, Sonali Paul Organizations: New York City , New York U.S, REUTERS, Phi Beta Kappa, Middlebury College, Harvard Business School, Metropolitan Museum of Art, Thomson Locations: New York City , New York, New York

☆ How Morgan Stanley exec Ted Pick rose from 'rough edged' deal junkie to CEO
▼ + stars: | 2023-10-25 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +21 min

Editor's note: Morgan Stanley announced on October 25 that Ted Pick would replace James Gorman as CEO. Employees knew they were getting promoted if Pick told them to wear a tie the following day, an ex-managing director recalled. While Morgan Stanley currently trades at a premium among its Wall Street peers, its enviable success isn't thanks to Pick. Gonzalo Marroquin/Patrick McMullan via Getty Images Show less Morgan Stanley investment management head and dark horse in the race for CEO, Dan Simkowitz. Despite enjoying the stock price gains under Gorman's reign, plenty of longtime employees want another dyed-in-the-wool Morgan Stanley loyalist, according to a former senior executive.

Persons: Morgan Stanley, Ted Pick, James Gorman, Pick, Gucci loafers, Blackstone, Tony James, Morgan, Gorman, Andy Saperstein, Dan Simkowitz, John Mack, Ted, James, Phil Purcell, Mack, Purcell, Merrill Lynch, Paul Taubman, Colm Kelleher, coheads, Gonzalo Marroquin, Patrick McMullan, Saperstein, Euromoney, Parker Gilbert, He's, John, cohead, Bolu, Goldman Sachs, Pablo, tony, Betsey Kittenplan, Smith Barney, James cochairs, Jim Breyer, Anna Wintour, John Mack pranking Pick, John Waldron, I'm, Howard Marks, Bill Parcells, atta, Brian Moynihan, aren't, David Solomon, Jamie Dimon's, Eaton Vance, he's, you've, Richard Drew, —, Hayley Cuccinello Organizations: Employees, Archegos Capital Management, Blackstone, McKinsey, Getty, Middlebury College, China Construction Bank, Harvard Business School, Mitsubishi, Wall, Autonomous Research, Anguilla, Agricultural Bank of China, Capital Management, Metropolitan Museum of Art, Vogue, New York Rangers, Oaktree Capital Management, Bloomberg, Staten, Disney, JPMorgan, Trade, AP Locations: China, Beijing, Manhattan, New York City, Caracas, Venezuela, Brookville, tony Long, hcuccinello@insider.com

Investors stand in front of a screen showing the logo of Nomura Holdings in Tokyo, Japan, December 1, 2015. REUTERS/Toru Hanai/File Photo Acquire Licensing RightsSYDNEY, Oct 25 (Reuters) - Japanese investment bank Nomura Holdings (8604.T) has laid off about 10 of its Hong Kong-based investment bankers, including some who were focused on China-related deals, said two sources with direct knowledge of the matter. The Japanese investment bank has seen its China-linked fortunes slipping lately. Its fortunes in regional equity capital markets were boosted by its leading advisory role in March on the $9.24-billion stake sale by Japan Post Holdings (6178.T) in Japan Post Bank Co(7182.T). Reporting by Scott Murdoch in Sydney and Selena Li in Hong Kong Editing by Helen PopperOur Standards: The Thomson Reuters Trust Principles.

Persons: Toru Hanai, Nomura, LSEG, Goldman Sachs, Scott Murdoch, Selena Li, Helen Popper Our Organizations: Nomura Holdings, REUTERS, Rights, Reuters, Japan Post Holdings, Japan Post Bank Co, Bank of America, Citigroup, UBS, Hong, Thomson Locations: Tokyo, Japan, Hong Kong, China, Asia, Sydney

People walk outside of Jefferies Financial Group offices in Manhattan, New York, U.S., December 8, 2021. REUTERS/Eduardo Munoz/File Photo Acquire Licensing RightsNEW YORK, Oct 24 (Reuters) - Investment bank and capital markets firm Jefferies (JEF.N) has hired industrial banker Francis Tucci from Citigroup (C.N) for a senior role, according to sources familiar with the move. Tucci will join Jefferies as chairman, industrials, and will report to Peter Bowden, global head of industrial, energy and infrastructure investment banking. Tucci, who will be based in New York, will start early next year, the sources said. Also in September, Wells Fargo (WFC.N) hired former Citi executive Clayton Hale as co-head of equity capital markets.

Persons: Eduardo Munoz, Francis Tucci, Tucci, Jefferies, Peter Bowden, Jane Fraser, Wells, Clayton Hale, Svea Herbst, Bayliss, David Carnevali, Matthew Lewis Organizations: Jefferies Financial, REUTERS, Investment, Jefferies, Citigroup, Citi, Svea, Thomson Locations: Manhattan , New York, U.S, New York, Wells Fargo

☆ Meet the candidates in the running to replace James Gorman as Morgan Stanley's CEO
▼ + stars: | 2023-10-20 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +8 min

Morgan Stanley CEO James Gorman plans to retire by May 2024, leaving big shoes to fill. AdvertisementAdvertisementSuccession has traditionally been a bloody sport on Wall Street with the losers leaving and taking their lieutenants with them. Morgan Stanley CEO James Gorman, who plans to retire by May 2024, wants the buck the trend so the bank can hold onto all three candidates. "Wall Street has had a history of that not happening," said Gorman in a July earnings call. With Morgan Stanley at the top of its game, breaking up this well-oiled team could be disastrous.

Persons: Morgan Stanley, James Gorman, Ted Pick, Andy Saperstein, Dan Simkowitz, —, Gorman, Morgan, Ted, He's, Tony James, Morgan Stanley's, Pick, Simkowitz, Dodd, Frank, Fannie Mae, Freddie Mac, Dan, Andy Saperstein Saperstein, Merrill Lynch, Bloomberg, Hayley Cuccinello Organizations: Service, Archegos Capital Management, Washington , D.C, Federal Reserve, Treasury, General Motors, AIG, Citigroup, McKinsey, Staten, Disney, Hamptons Locations: Washington ,, hcuccinello@insider.com

☆ This Morgan Stanley veteran is ready to be CEO — it just might be somewhere else
▼ + stars: | 2023-10-17 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +16 min

Morgan Stanley CEO James Gorman plans to retire by May 2024. "Cross-pollinating key leaders across our major businesses further knits the Morgan Stanley culture," Gorman wrote in a memo at the time. Morgan Stanley, which was the lead underwriter, had to step in to prop up the stock. In 2010, Morgan Stanley was picked as one of two lead underwriters — the other being JPMorgan — for the IPO of General Motors. With Morgan Stanley at the top of its game, breaking up this well-oiled team could be disastrous.

Persons: Morgan Stanley, James Gorman, Ted Pick, Andy Saperstein, Dan Simkowitz, He's, Simkowitz, Eaton Vance, Pick, Morgan, Getty, Dan, doesn't, Gorman, Morgan Stanley's, Saperstein, executive's protégé, Andy, Alex, Brown, Ted, she'd, Simkowitz's, Dean Witter Reynolds, Eaton, Calvert, Ruth Porat, Bob Scully, Fannie Mae, Freddie Mac, Will Dotson, Dan Akerson, TIMOTHY A, CLARY, Erik Gordon, Dodd, Frank, David Bieri, Gonzalo Marroquin, Patrick McMullan, Paul Taubman, Colm Kelleher, coheads, John Mack, Phil Purcell, Hayley Cuccinello Organizations: Disney, Harvard, McKinsey, Columbia Business School, Maccabiah Games, Team USA, Maccabi USA, Trenton Almgren, Davis, Lucent, Verizon, Mesa West Capital, JPMorgan, Calvert Research, Management, Facebook, Massachusetts Securities Division, Treasury, JPMorgan —, General Motors, Government Motors, General, New York Stock Exchange, Getty, University of Michigan's Ross School of Business, Citigroup, Virginia Tech, US Securities and Exchange Commission, United States Attorney's Office, Southern, of Locations: Bloomington , Indiana, Trenton, New York, Tokyo and Hong Kong, Boston, Washington, Switzerland, of New York, hcuccinello@insider.com

☆ Here's what all the major analysts expect from Goldman Sachs' earnings Tuesday
▼ + stars: | 2023-10-16 | by ( Pia Singh | ) www.cnbc.com time to read: +5 min

Analysts expect yet another lackluster quarter for Goldman Sachs , but are not ready to turn away from the stock. Analysts expect earnings per share of $5.31 and net revenue of nearly $11.19 billion, according to estimates from LSEG. "We believe GS is well positioned to benefit from positive secular capital markets related trends (trading benefiting from volatile markets). Jefferies similarly expects a muted quarter for Goldman, forecasting $5.09 per share in third-quarter earnings. The deal will result in a 19 cents per share reduction to the bank's third-quarter earnings, Goldman said.

Persons: Goldman Sachs, Goldman, Jason Goldberg, Goldberg, Jefferies, Daniel Fannon, Fannon, Ebrahim Poonawala, Wells, Mike Mayo, Mayo Organizations: Goldman, Bank of America, Downside, Sixth Locations: LSEG, New York, Goldman Sachs, Friday's, Wells

The logo of Atos is pictured at the Eurosatory international defence and security exhibition in Villepinte, near Paris, France June 13, 2022. Mustier, credited with restoring UniCredit's capital strength, will be tasked to revive investors' trust after a governance crisis and a series of setbacks pummelled Atos' shares, now trading at near record lows. Atos shares jumped by more than 20% in early Paris trading but reversed course in the morning. The planned sale of Atos's loss-making legacy IT operations, dubbed Tech Foundations, to Kretinsky is opposed by some minority shareholders and several French politicians. Atos on Monday reiterated the plan to sell Tech Foundations to Kretinsky under the terms announced in August, although it signalled some of the financial terms could change.

Persons: Benoit Tessier, Bertrand Meunier, Kretinsky, Jean, Pierre Mustier, Daniel Kretinksy, Atos, Mustier, pummelled Atos, Kretinsky's, Mathieu Rosemain, Pierre John Felcenloben, Christian Schmollinger, Navaratnam, Louise Heavens Organizations: REUTERS, Tech Foundations, Tech, Atos, Kretinsky, Thomson Locations: Villepinte, Paris, France, Czech, Kretinsky, Eviden, French, Atos

☆ Deutsche Bank completes takeover of UK broker Numis
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +1 min

The headquarters of Germany's Deutsche Bank are pictured in Frankfurt, Germany, September 21, 2020. REUTERS/Ralph Orlowski/File photo Acquire Licensing RightsLONDON, Oct 13 (Reuters) - Deutsche Bank (DBKGn.DE) has completed its takeover of Numis (NUM.L), a London-based boutique investment bank, expanding its links with UK corporate clients, the German bank said on Friday. The combined business, Deutsche Numis, will oversee more than 170 corporate broking relationships and provide advisor, corporate broking, and equity capital markets services, the bank said. Fabrizio Campelli, who oversees Deutsche's investment bank, said the deal would expand the bank's reach into Europe's largest investment banking market. Deutsche Bank announced in April it had agreed to buy Numis for 410 million pounds ($500 million).

Persons: Ralph Orlowski, Alex Ham, Ross Mitchinson, Fabrizio Campelli, Amy, Jo Crowley, Iain Withers Organizations: Germany's Deutsche Bank, REUTERS, Deutsche Bank, Numis, Deutsche Numis, Thomson Locations: Frankfurt, Germany, London

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