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Search resuls for: "Marinac"


4 mentions found


☆ Regional bank stock plunge creating key entry point for investors, top analyst says
  + stars: | 2023-03-13 | by ( Anna Gleason | ) www.cnbc.com   time to read: +1 min
The dramatic drop in regional bank stocks is a key entry point for investors, according to analyst Christopher Marinac. The SPDR S&P Regional Banking ETF dropped by more than 12% on Monday after regulators shuttered Silicon Valley Bank and Signature Bank. When asked which regional banks look most attractive, Marinac recommends Fifth Third Bank . Marinac also named Truist as a top sector pick, saying the company has a competitive advantage among regional banks after selling a portion of its insurance unit. Truist stock has dropped 30% over the past five sessions.
☆ Analysis: Cracks appear in Credit Suisse comeback plans
  + stars: | 2022-10-28 | by ( Noele Illien John O'Donnell Davide Barbuscia | Noele Illien | John O'Donnell | ) www.reuters.com   time to read: +6 min
ZURICH/NEW YORK, Oct 28 (Reuters) - After months of reflecting, Credit Suisse's chairman Axel Lehmann revealed an overhaul "to rebuild Credit Suisse as a strong ... bank with a firm foundation, rock-solid like our Swiss mountains". On Thursday, Credit Suisse outlined plans to raise 4 billion Swiss francs from investors, cut thousands of jobs and shift its focus from investment banking towards its rich clients. Credit Suisse said its clients pulled funds in recent weeks at a pace that led the lender to breach some regulatory requirements for liquidity, underscoring the deep impact of wild market swings and social media speculation about its health. It will separate its investment bank to create CS First Boston, focused on advisory work such as mergers and acquisitions and arranging deals on capital markets. And that's the pond that Credit Suisse is swimming in."
☆ Goldman to merge investment banking, trading as Marcus takes backseat
  + stars: | 2022-10-18 | by ( Saeed Azhar | Lananh Nguyen | ) www.reuters.com   time to read: +4 min
The group’s reorganization sees its investment banking and trading businesses merged into a single unit, two people familiar with the matter told Reuters. It is the biggest shakeup since the company’s investor day in early 2020 when it outlined plans for four core units: investment banking, global markets, consumer and wealth management and asset management. “They’re excellent at trading, excellent (at) investment banking,” said Marinac. But the consumer banking unit that launched in 2016 has struggled to gain traction and suffered from delays. The combined investment banking and trading group will be overseen by Dan Dees and Jim Esposito, who are currently global co-heads of Goldman’s investment banking division, and Ashok Varadhan, now co-head of its global markets division, according to Bloomberg.
☆ Wall Street banks' profits slide as economic clouds loom, some beat forecasts
  + stars: | 2022-10-14 | by ( Saeed Azhar Noor Zainab Hussain Niket Nishant | Saeed Azhar | Noor Zainab Hussain | ) www.reuters.com   time to read: +6 min
REUTERS/Andrew KellyOct 14 (Reuters) - Profits slid at Wall Street's biggest banks in the third quarter as they braced for a weaker economy while investment banking was hit hard, but investors saw a silver lining with some banks beating estimates. Banks set aside more money in preparation for a hit from a potential economic slowdown. Marinac said investors would want to see banks build reserves at this point in the economic cycle. Morgan Stanley's earnings showed that investment banking revenue more than halved to $1.3 billion with declines across the bank's advisory, equity and fixed income segments. Corporations' interest in mergers, acquisitions and initial public offerings dried up, particularly hitting banks strong in investment banking.
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