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☆ U.S regional bank shares rise on interest income, deposits stabilizing
▼ + stars: | 2023-07-19 | by ( ) www.reuters.com time to read: +3 min

July 19 (Reuters) - Three major U.S. regional banks met or beat profit expectations on Wednesday as higher interest rates allowed them to charge more for loans, while deposits stabilized, sending shares across the sector up. Investors have been anxiously awaiting regional bank second quarter earnings as they look for reassurance that the turmoil that rocked the sector earlier this year has finally passed. M&T Bank Corporation (MTB.N) and Citizens Financial Group (CFG.N) both beat Wall Street estimates from charging clients higher interest rates after the U.S. Federal Reserve raised borrowing costs to rein in stubborn inflation. The KBW Regional Bank Index (.KRX) and S&P regional bank index (.SPCOMBNKS) were each gaining nearly 2% in line with the broader market. M&T's deposits rose to $162.1 billion from $159.1 billion at the end of the first quarter, but fell about 4.9% year-on-year.

Persons: NII, Dennis Dick, Michelle Price, Manya Saini, Jaiveer Singh Shekhawat, Johann Cherian, Chibuike, Nick Zieminski Organizations: T Bank Corporation, Citizens Financial, Wall, U.S . Federal Reserve, Citizens, US Bancorp, Big, Regional, Zions Bancorp, Truist, Fifth Third Bancorp, Bank, Triple D, Thomson Locations: Big U.S, Silicon, Bengaluru, New York

☆ US bank shares jump on interest income and deals optimism, but outlook mixed
▼ + stars: | 2023-07-18 | by ( ) www.reuters.com time to read: +5 min

The bank said it expects full year NII to be up about 8% at about $57 billion. The bank's full year NII outlook remains unchanged at 20% growth, Chief Financial Officer Dermot McDonogh told analysts. Overall, its profit slipped 18% in the second quarter as a fewer deals hurt investment banking revenues. Sluggish deals have been a sore spot across Wall Street with global investment banking activity plunging to $15.7 billion in the second quarter, the lowest since 2012, according to Dealogic. While investment banking and trading were also a drag on earnings for big banks on Friday, JPMorgan likewise said the bank was seeing “green shoots” in trading and investment banking.

Persons: Nacho, Morgan Stanley, BNY Mellon, Dermot McDonogh, Robert Pavlik, BNY, Morgan, JPMorgan Chase, Charles Schwab, Walt Bettinger, MS.N, Morgan Stanley's, Sharon Yeshaya, Goldman Sachs, Mehnaz Yasmin, Niket, Jaiveer, Manya Saini, Saeed Azhar, Tatiana Bautzer, Lance Tupper, Johann Cherian, Michelle Price, Megan Davies, Nick Zieminski Organizations: of America, REUTERS, WASHINGTON, . Bank of America, Bank of New York Mellon Corp, Federal Reserve, Bank of, Wall, PNC Financial Services, Dakota Wealth, JPMorgan, Citigroup, PNC, Silicon Valley Bank, Reuters, Street, Thomson Locations: New York, U.S, Big U.S, NII, KBW, Wells Fargo, Silicon, Bengaluru

☆ Synchrony Financial reports strong quarter on higher interest income
▼ + stars: | 2023-07-18 | by ( ) www.reuters.com time to read: +1 min

July 18 (Reuters) - Credit card company Synchrony Financial (SYF.N) beat second-quarter profit estimates on Tuesday, as the U.S. Federal Reserve's rapid rate hikes helped boost interest earned from borrowers, offsetting a hit from bigger rainy-day funds. Lenders have benefited from the Fed's aggressive monetary policy tightening, but also had to earmark bigger provisions for potential defaults as higher borrowing costs squeezed consumers' financial health. Synchrony reported a profit of $1.32 per share in the reported quarter, compared with analysts' average estimate of $1.24, according to Refinitiv IBES data. Net interest income (NII) increased 8.4% to $4.1 billion, helping soften the hit from larger credit loss provisions at $1.38 billion, up from $724 million a year earlier. Total deposits for Synchrony Financial increased 1.8% to $75.77 billion from the first quarter and rose 17% from a year earlier.

Persons: Synchrony, Jaiveer Singh, Shinjini Organizations: U.S, U.S . Federal, Synchrony Financial, Investors, Thomson Locations: U.S ., Bengaluru

July 14 (Reuters) - BlackRock Inc (BLK.N), the world's biggest asset manager, handily beat second-quarter profit estimates but showed a slowdown in money inflows, sending shares down about 2%. Net inflows for the quarter were $80 billion, down from $89.6 billion a year ago and $110 billion in the first quarter, amid heightened economic uncertainties. "The firm's flow mix remains skewed toward lower fee strategies, which continue to weigh on organic base fee growth," Goldman Sachs said in a note to clients. Citigroup described the results as "a bit of a mixed quarter," given BlackRock's profit beat but lower-than-expected inflows. Shares in BlackRock are up 2.85% this year, underperforming the S&P 500 index (.SPX), which is up almost 18%.

Persons: Refinitiv IBES, Kyle Sanders, Edward Jones, Goldman Sachs, BlackRock, Larry Fink, Fink, Martin Small, Jaiveer Singh, Chizu Nomiyama, Mark Potter, Anna Driver Organizations: BlackRock Inc, BlackRock, Citigroup, CNBC, Thomson Locations: New York, BlackRock, Bengaluru

July 14 (Reuters) - BlackRock Inc (BLK.N) on Friday beat second-quarter profit estimates, as investors continued to pour money into its various funds on the back of a rally in markets after a bruising start to the year. Net inflows for the quarter for BlackRock were at $80 billion, down from $89.6 billion a year ago. The company's adjusted profit of $9.28 per share leapfrogged analysts' estimates of $8.46, according to Refinitiv IBES. Fink in an investor event last month said that he is not planning to leave the asset manager "any time soon". Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Maju Samuel and Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Kyle Sanders, Edward Jones, Refinitiv IBES, Larry Fink, Fink, Jaiveer Singh, Maju Samuel, Chizu Organizations: BlackRock Inc, The, Revenue, BlackRock, Securities, Exchange, Thomson Locations: The New York, BlackRock, Bengaluru

☆ Binance lays off employees days after executive exodus
▼ + stars: | 2023-07-14 | by ( Jaiveer Shekhawat | ) www.reuters.com time to read: +1 min

July 14 (Reuters) - Cryptocurrency exchange Binance has cut jobs just days after it was hit by a wave of executive exits, a source familiar with the matter told Reuters on Friday. The layoffs at the world's biggest crypto exchange come at a time when the industry's future in the U.S. market is uncertain, with regulators aggressively clamping down on what they deem are illegal activities. Last month, the Securities and Exchange Commission (SEC) sued Binance and its CEO Changpeng Zhao for allegedly operating a "web of deception." Last week, a string of executives quit Binance, which included its Chief Strategy Officer Patrick Hillmann. Reporting by Kanjyik Ghosh and Jaiveer Shekhawat in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Binance, Changpeng Zhao, Gary Gensler's, Patrick Hillmann, Kanjyik Ghosh, Jaiveer, Shailesh Organizations: Reuters, Securities and Exchange Commission, SEC, Labs, BlackRock, Fidelity, Wall Street, Thomson Locations: U.S, Bengaluru

☆ Icahn unties personal loans from his investment firm's share price, shares jumps
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +2 min

July 10 (Reuters) - Billionaire activist investor Carl Icahn has amended the terms of his personal loans to separate them from the price of Icahn Enterprises' (IEP.O) depositary units, the investment firm disclosed in a filing on Monday. The move comes months after short-seller Hindenburg's criticism triggered a massive fall in the shares of his investment company. Icahn and its affiliates have entered into a three-year loan agreement with banks, including Bank of America, N.A. In the amended loan agreement, Icahn will provide additional collateral of $2 billion from his personal funds and 320 million IEP shares. It also said IEP units were inflated by more than 75%.

Persons: Carl Icahn, Icahn, Hindenburg, Jaiveer Shekhawat, Niket, Gursimran Kaur, Dhanya Ann Thoppil, Pooja Desai Organizations: Billionaire, Icahn Enterprises, Bank of America, Bank of Montreal, Deutsche Bank AG, Thomson Locations: Bengaluru

☆ Binance chief strategy officer quits
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: 1 min

July 6 (Reuters) - Binance's Chief Strategy Officer Patrick Hillmann has quit the cryptocurrency exchange, he said in a tweet on Thursday. Last month, U.S. regulators sued Binance and its CEO Changpeng Zhao for allegedly operating a "web of deception" and filed 13 charges in a federal court in Washington D.C. Binance has said it would defend itself "vigorously." "It's true that I am leaving Binance," Hillmann said in a tweet, adding that he was doing so on good terms. loadingHillmann had joined the world's largest cryptocurrency exchange in 2021 and became the chief strategy officer in October last year. Reporting by Jaiveer Singh Shekhawat in BengaluruOur Standards: The Thomson Reuters Trust Principles.

Persons: Patrick Hillmann, Binance, Changpeng Zhao, Hillmann, Jaiveer Singh Organizations: Washington D.C, Thomson Locations: U.S, Washington, Bengaluru

☆ Bank of America increases dividend by 9% after Fed stress test
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +1 min

NEW YORK, July 5 (Reuters) - Bank of America (BofA) (BAC.N) said on Wednesday it planned to increase its quarterly common stock dividend to 24 cents per share from 22 cents per share beginning in the third quarter of 2023. BofA, unlike other major U.S. banks, had held back a decision on the dividend last week. Rivals JPMorgan Chase (JPM.N), Citigroup (C.N), Wells Fargo (WFC.N), Goldman Sachs (GS.N) and Morgan Stanley (MS.N) hiked their third-quarter dividends on Friday after sailing through the Federal Reserve's stress test. BofA had cited a dialogue with the Fed to understand differing results between the central bank's stress test and the companies' own under the Dodd-Frank Act. Last year, BofA raised its dividend to 22 cents a share, the highest level since the 32 cents paid in 2008 and up from 21 cents in 2021.

Persons: Goldman Sachs, Morgan Stanley, BofA, Dodd, Frank, Jaiveer Singh, Saeed Azhar, Shailesh Kuber, Jamie Freed Organizations: YORK, Bank of America, Rivals JPMorgan Chase, Citigroup, U.S, Thomson Locations: U.S, Wells Fargo, Bengaluru, New York

☆ Nasdaq refiles BlackRock's bitcoin ETF application with SEC
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +2 min

July 3 (Reuters) - Nasdaq (NDAQ.O) refiled an application with the U.S. securities regulator to list an exchange-traded fund by BlackRock Inc (BLK.N) that will reflect the price of bitcoin to add additional details, according to a filing made public on Monday. The move comes after the regulator reportedly had concerns over the initial filings by Nasdaq as being unclear and incomplete. According to Cboe's Fidelity bitcoin ETF filing, the company's platform represented roughly half of U.S. dollar-bitcoin trading in May. The SEC has rejected dozens of spot bitcoin ETF applications in recent years, including one from Fidelity in January 2022. Reporting by Jaiveer Singh Shekhawat in Bengaluru and John Mcrank in New York; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Sam Bankman, Coinbase, Jaiveer Singh, John Mcrank, Shailesh Organizations: Nasdaq, BlackRock Inc, U.S . Securities, Exchange Commission, SEC, Global Inc, Fidelity, ., Thomson Locations: Manhattan, Bengaluru, New York

☆ US regulators consider to limit major lenders' borrowings from FHLBs - Bloomberg News
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Sarah Silbiger/File PhotoJune 30 (Reuters) - U.S. officials are considering to limit the ability of large banks to use Federal Home Loan Banks (FHLBs) as a financial backstop, as part of a broader proposal to overhaul the system, Bloomberg News reported on Friday. The Federal Housing Finance Agency might still adjust its plans before announcing the recommendations in the coming months, the report added. Federal Home Loan Banks are 11 U.S. government-chartered institutions that raise money for low-cost lending to their member regional banks. For many of the member banks, they are a preferred final stop for cash before banks in need turn to the Federal Reserve itself as a last resort. Federal Housing Finance Agency did not immediately respond to a Reuters request for comment.

Persons: Sarah Silbiger, Jaiveer Singh, Shweta Agarwal Organizations: REUTERS, Loan, Bloomberg, Federal Housing Finance Agency, Silicon Valley Bank, Signature Bank, Credit Suisse, Federal, Loan Banks, Federal Reserve, Thomson Locations: Washington , U.S, Silicon, U.S, Bengaluru

☆ US Senator Warren questions Goldman's role in SVB failure
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +1 min

Senator Elizabeth Warren has questioned Goldman Sachs' (GS.N) role in the failure of Silicon Valley Bank (SVB) and the profits it allegedly made in the process. The letter said Goldman Sachs benefited further as market turmoil following SVB's failure increased the value of the discounted bond portfolio by an estimated $100 million. Goldman acquired a bond portfolio on which SVB booked a $1.8 billion loss, a transaction that preceded a failed share sale by the lender for which the Wall Street bank was an underwriter. But it's well known that banks don't collect fees when capital raises are canceled," said Tony Fratto, a spokesman for Goldman Sachs. He reiterated that Goldman expects proceeds from the SVB portfolio sale to be closer to $50 million, and not $100 million.

Persons: Elizabeth Warren, Goldman Sachs, SVB, Warren, Goldman, Tony Fratto, Jaiveer Singh, Saeed Azhar, Pooja Desai Organizations: Silicon Valley Bank, Federal Deposit Insurance Corporation, SVB, Valley Bank, U.S, underwriters, Thomson Locations: Silicon, Bengaluru, New York

☆ US regulators consider to limit major lenders' borrowings from FHLBs, Bloomberg reports
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Sarah Silbiger/File PhotoJune 30 (Reuters) - U.S. officials are considering to limit the ability of large banks to use Federal Home Loan Banks (FHLBs) as a financial backstop, as part of a broader proposal to overhaul the system, Bloomberg News reported on Friday. The Federal Housing Finance Agency (FHFA) might still adjust its plans before announcing the recommendations in the coming months, the report added. Federal Home Loan Banks are 11 U.S. government-chartered institutions that raise money for low-cost lending to their member regional banks. For many of the member banks, they are a preferred final stop for cash before banks in need turn to the Federal Reserve itself as a last resort. Federal Housing Finance Agency did not immediately respond to a Reuters request for comment.

Persons: Sarah Silbiger, FHFA, Jaiveer Singh, Shweta Agarwal Organizations: REUTERS, Loan, Bloomberg, Federal Housing Finance Agency, Reuters, Silicon Valley Bank, Signature Bank, Credit Suisse, Federal, Loan Banks, Federal Reserve, Thomson Locations: Washington , U.S, Silicon, U.S, Bengaluru

☆ AI company Runway valued at $1.5 bln in latest funding -source
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

June 29 (Reuters) - AI company Runway has been valued at $1.5 billion in its latest round of funding, a source familiar with the matter said on Thursday, after it raised $141 million from investors, including Alphabet-owned Google (GOOGL.O) and Nvidia (NVDA.O). The extension to the Series C funding round was also led by Salesforce Ventures and existing investors, the company said in a statement. Runway's software allows users to transform or tweak existing videos or create new videos by using text prompts or images. The company also launched a mobile app earlier this year, giving its users access to its generative AI tools. Reporting by Jaiveer Singh Shekhawat in Bengaluru and Krystal Hu in Toronto; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: Jensen Huang, Jaiveer Singh, Krystal Hu, Anil D'Silva Organizations: Runway, Nvidia, Salesforce Ventures, Thomson Locations: Bengaluru, Toronto

☆ AI company Runway valued at $1.5 billion in latest funding
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

June 29 (Reuters) - AI company Runway has been valued at $1.5 billion in its latest round of funding, a source familiar with the matter said on Thursday, after it raised $141 million from investors, including Alphabet-owned Google (GOOGL.O) and Nvidia (NVDA.O). The extension to the Series C funding round also included Salesforce Ventures and Runway's existing investors, the company said in a statement. Runway's software allows users to transform or tweak existing videos or create new videos by using text prompts or images. The company also launched a mobile app earlier this year, giving its users access to its generative AI tools. Earlier in the day, another AI startup Inflection raised $1.3 billion from Microsoft at a valuation of $4 billion, a source familiar with the matter told Reuters.

Persons: Jensen Huang, Jaiveer Singh, Krystal Hu, Anil D'Silva Organizations: Runway, Nvidia, Salesforce Ventures, Microsoft, Reuters, Thomson Locations: Bengaluru, Toronto

☆ US regulators ask lenders to work with stressed commercial real estate firms
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

June 29 (Reuters) - U.S. banking regulators are asking lenders to work with credit-worthy borrowers that are facing stress in the commercial real estate market. Office loans have posed concerns for some U.S. lenders as property values decline and more borrowers default on their loans. Federal Reserve Chair Jerome Powell earlier in the month said that U.S. commercial real estate lending remains under pressure but appears unlikely to threaten the broader financial system. Banks represent 54% of the overall $5.7 trillion commercial real estate market, with small lenders holding 70% of the loans in that market, according to Citigroup analysts. More than $1.4 trillion in U.S. commercial real estate loans will mature by 2027, with some $270 billion coming due this year, according to real estate data provider Trepp.

Persons: prudently, Jerome Powell, Banks, Jaiveer Singh, Maju Samuel Organizations: Governors, Federal Reserve System, Federal Deposit Insurance Corp, National Credit Union Administration, Federal, Citigroup, Thomson Locations: Bengaluru

☆ Visa to acquire Brazilian fintech Pismo for $1 billion in cash
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: 1 min

June 28 (Reuters) - Payments giant Visa Inc (V.N) said on Wednesday it would acquire Brazilian fintech platform Pismo for $1 billion in cash to expand its footprint in Latin America as the region continues to attract scores of foreign investments. The consolidation also expands Sao Paulo-based Pismo's offerings. It provides technology through which clients can issue Visa and Mastercard (MA.N) cards. Pismo's cloud-based platform for financial institutions hosts more than 70 million accounts and transacts more than $200 billion a year. Reporting by Jaiveer Shekhawat and Mehnaz Yasmin in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Jaiveer Shekhawat, Mehnaz Yasmin, Maju Samuel Organizations: Visa Inc, Brazilian, Visa, Mastercard, Thomson Locations: America, Sao Paulo, Bengaluru

☆ Jefferies quarterly profit falls as dealmaking in doldrums
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: 1 min

June 27 (Reuters) - Jefferies Financial Group Inc's (JEF.N) second-quarter profit slumped 89% as subdued dealmaking and a lull in new initial public offerings weighed on its advisory and underwriting fees, the investment bank said on Tuesday. Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

Persons: Jaiveer Singh, Sriraj Organizations: Jefferies, Thomson Locations: Bengaluru

The liquidators discussed the allegations against Three Arrows co-founders Su Zhu and Kyle Davies at a Tuesday meeting with the hedge fund's creditors, the person said. Representatives for Zhu and Davies could not be reached for comment immediately. Three Arrows was the first major crypto firm to go bankrupt in 2022, brought down by the collapse of cryptocurrencies Luna and TerraUSD in May. The liquidators were appointed by that court to wind down the company and pay its debt. Earlier this month, a set of non-fungible tokens previously bought by Three Arrows was sold for $10.9 million at Sotheby's in New York.

Persons: Su Zhu, Kyle Davies, Zhu, Davies, cryptocurrencies Luna, TerraUSD, Jaiveer Singh, Dietrich Knauth, Sriraj Organizations: Arrows, Reuters, Three Arrows, Virgin, Bloomberg News, British Virgin Islands, Thomson Locations: British Virgin, Manhattan, New York, Bengaluru

☆ United Airlines CEO blames FAA as storms trigger more flight cancellations
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +1 min

June 27 (Reuters) - United Airlines (UAL.O) Chief Executive Scott Kirby has blamed the Federal Aviation Administration (FAA) after severe storms led to thousands of canceled flights in recent days. "I'm ... frustrated that the FAA frankly failed us this weekend," he said in a memo to the company's employees on Monday. "We estimate that over 150,000 customers on United alone were impacted this weekend because of FAA staffing issues and their ability to manage traffic," Kirby said in a memo reviewed by Reuters. Kirby said that the FAA reduced arrival rates by 40% and departure rates by 75% on Saturday. That, he said, led to massive delays, cancellations and "put everyone behind the eight ball when weather actually did hit on Sunday and was further compounded by FAA staffing shortages Sunday evening."

Persons: Scott Kirby, Kirby, Jaiveer Singh, David Shepardson, Maju Samuel Organizations: United Airlines, Federal Aviation Administration, FAA, Reuters, U.S ., Thomson Locations: U.S . East Coast, Washington, New York, United States, Bengaluru

☆ Google lays off staff at its mapping app Waze
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +1 min

June 27 (Reuters) - Alphabet-owned Google (GOOGL.O) on Tuesday said it is cutting jobs at mapping app Waze as it merges the app's advertising system with Google Ads technology, without giving details on the number of layoffs. "In order to create a better, more seamless long-term experience for Waze advertisers, we've begun transitioning Waze's existing advertising system to Google Ads technology. As part of this update, we've reduced those roles focused on Waze Ads monetization," Google, which acquired Waze for about $1.3 billion in 2013, said. Google had in December said that it will merge Waze and Google Maps teams to consolidate processes, making it a part of the Google Geo division, its portfolio of real-world mapping products that include Google Maps, Google Earth, and Street View. The news was first reported by CNBC earlier in the day, citing an email from Chris Phillips, who leads the Geo division.

Persons: we've, Chris Phillips, Akash Sriram, Jaiveer, Chandni Shah, Maju Samuel, Rashmi Organizations: Google, Google Geo, CNBC, Geo, Thomson Locations: Bengaluru

June 26 (Reuters) - Canadian private equity firm Brookfield's reinsurance arm is nearing a deal to buy insurer American Equity Life Holding (AEL.N), a person familiar with the matter told Reuters on Monday. Brookfield has made a cash-and-stock offer that is set to be recommended by the American Equity board, the person said, requesting anonymity. Iowa-based American Equity last year had rejected a $3.9 billion unsolicited takeover proposal from Prosperity Life and its principal shareholder, activist investor Elliott Investment Management. Brookfield and American Equity did not immediately respond to requests for comment from Reuters. American Equity provides annuities - an insurance contract customers typically buy for a steady income stream after retiring.

Persons: Brookfield, Jaiveer Singh, Maju Samuel, Sriraj Organizations: Reuters, American Equity, Bloomberg, Equity, Prosperity, Elliott Investment Management, Investment, Thomson Locations: Iowa, Brookfield, Bengaluru

☆ Goldman Sachs faces big writedown on GreenSky deal, CNBC reports
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +1 min

June 23 (Reuters) - Goldman Sachs (GS.N) is likely to take a large writedown for its $2.2 billion acquisition of fintech lender GreenSky after seeking to divest the business it bought in 2021, CNBC reported on Friday, citing people with knowledge of the sale process. One bidder said GreenSky's loan origination platform is worth roughly $300 million, while another said it was worth closer to $500 million, according to the report. CNBC added the bids for the platform, which facilitates home improvement loans to consumers, were coming in well below Goldman's expectations. Shares of Goldman were down about 1.4% in mid-morning trading. The bank has been running a sale process for GreenSky, and may take a writedown on the $500 million of goodwill, or the premium it paid above the assets' book value, Goldman President and Chief Operating Officer John Waldron told investors at a conference in June.

Persons: Goldman Sachs, Goldman, We're, John Waldron, Warburg Pincus, Manya Saini, Jaiveer Shekhawat, Shinjini Organizations: CNBC, Goldman, KKR, Apollo Global Management, Sixth Street Partners, Synchrony Bank, Thomson Locations: Bengaluru

☆ Carlyle names insider John Redett as finance chief
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +1 min

June 20 (Reuters) - Carlyle Group Inc (CG.O) named company veteran John Redett as its new chief financial officer, the investment firm said on Tuesday, in the first major appointment under Chief Executive Officer Harvey Schwartz's leadership. Redett, who will take over from Curt Buser on Oct. 1, joined Carlyle 16 years ago and currently leads the firm's global financial services. Redett, who previously worked for U.S. banking giants Goldman Sachs (GS.N) and JPMorgan (JPM.N), will also become the head of corporate strategy at Carlyle. Carlyle hired Schwartz, a former Goldman Sachs (GS.N) executive, as its chief executive officer earlier this year, after a six-month long search. Carlyle also said it has also appointed Jim Burr as the head of global financial services.

Persons: John Redett, Harvey Schwartz's, Redett, Curt Buser, Goldman Sachs, Carlyle, Buser, Schwartz, Jim Burr, Jaiveer Singh, Nivedita Bhattacharjee Organizations: Carlyle Group Inc, Carlyle, Goldman, JPMorgan, Thomson Locations: Bengaluru

☆ Carlyle names John Redett as Chief Financial Officer
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: 1 min

June 20 (Reuters) - Investment firm Carlyle Group Inc (CG.O) said on Tuesday it has appointed firm veteran John Redett to the role of chief financial officer effective October 1, 2023. Redett will succeed Curt Buser, who will retire at the end of the year after being finance chief at Carlyle since 2014, the company said in a filing. Redett, who currently leads the firm's global financial services, has also been appointed as the head of corporate strategy. Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

Persons: John Redett, Redett, Curt Buser, Jaiveer Singh, Nivedita Organizations: Investment, Group Inc, Carlyle, Thomson Locations: Bengaluru

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