DIRS.INFO The most relevant business & tech news

"Some roles will change, new roles may be created, and new roles that do not fit our new structure will be eliminated," Sara Wechter, the bank's chief human resources officer, wrote in the memo. Fraser's memo to staff did not announce an expected number of job cuts but said the departures would enable staff who generate revenue and dealmakers to focus their time on clients. "We'll be saying goodbye to some very talented and hard-working colleagues," Fraser wrote at the time. CONSULTATIONS IN THE UKThe bank said in a separate memo it is also beginning the specific consultation required in the UK. Some of these roles may change, while others will remain largely the same."

Persons: Sara Wechter, Jane Fraser, Fraser, Jane, Lananh Nguyen, Tatiana Bautzer, Saeed Azhar, Megan Davies, David Gregorio Our Organizations: Citigroup, Reuters, Citi, Bank of America, Thomson Locations: Wells Fargo, London, New York

The logo of credit rating agency Moody's Investor Services is seen outside the office in Paris October 24, 2011.REUTERS/Philippe Wojazer/File PhotoNEW YORK, Aug 8 (Reuters) - Ratings agency Moody's said the U.S. banking sector is still strong even after it downgraded several small to mid-sized lenders and warned it might cut the ratings of several major banks. "What we're doing here is recognizing some headwinds - we're not saying that the banking system is broken," Ana Arsov, managing director of financial institutions at Moody's, told Reuters in an interview. An S&P index of bank stocks slid 2% after Moody's took action on 27 lenders on Monday, highlighting the challenges of higher interest rates, climbing funding costs and a looming recession that would weigh on profits. "As you look ahead, it doesn't feel like the pressure from interest rates being higher and overall monetary policy tightening is close to abating," said Jill Cetina, an associate managing director at Moody's. Reporting by Lananh Nguyen and Tatiana Bautzer; Editing by Mark Porter and Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

Persons: Philippe Wojazer, Moody's, we're, Ana Arsov, Jill Cetina, Lananh Nguyen, Tatiana Bautzer, Mark Porter, Jan Harvey Organizations: Moody's Investor Services, REUTERS, Reuters, Thomson Locations: Paris, Moody's, abating

[1/2] A view of the Goldman Sachs global headquarters in Manhattan, New York, U.S., November 15, 2021. The latest round of penny-pinching comes as Goldman Sachs management grew more pessimistic about an economic recovery and dealmaking this year. Goldman Sachs investment banking revenue is down 52% in that same period, the Dealogic data showed. Goldman Sachs trades at 0.97 times its book value, lagging rivals Morgan Stanley and JPMorgan Chase & Co (JPM.N) which trade at 1.45 times and 1.33 times, respectively, according to Refintiv data. Reuters GraphicsThe headcount reductions and cost cutting do not solve Goldman's fundamental challenges: its reliance on investment banking and trading.

Persons: Goldman Sachs, Andrew Kelly NEW, Goldman, David Solomon, John Waldron, Morgan Stanley, pare, Brennan Hawken, Waldron, Saeed Azhar, Lananh Nguyen, Tatiana Bautzer, Andrea Januta, Anna Driver Organizations: REUTERS, Andrew Kelly NEW YORK, Goldman Sachs, Investment, Lazard Ltd, Citigroup Inc, JPMorgan Chase &, Reuters, Thomson Locations: Manhattan , New York, U.S, New York, Bengaluru

Credit Suisse said in a statement that it welcomed the news. Credit Suisse shares plunged by as much as 30.8% earlier on Wednesday, leading a 7% drop in the European banking index (.SX7P). The U.S. Treasury said it is monitoring the situation at Credit Suisse and is in touch with global counterparts about it. “People are all examining their books, what open positions we have with Credit Suisse,” the source said. The European Central Bank (ECB) had contacted banks on its watch to quiz them about their exposures to Credit Suisse, two supervisory sources told Reuters.

Search resuls for: "Lananh Nguyen Tatiana Bautzer"

4 mentions found