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The bank should also post better-than-expected net interest margins and net interest income given the rise in short-term interest rates, he added. The bank's third-quarter profit and earnings topped expectations on better-than-expected fixed income trading and gains in interest income. Meanwhile, Chuck Liberman, chief investment officer at Advisors Capital Management, likes Wells Fargo , calling it a "one of the cheapest banks with a large retail deposit base." This will boost the bank's net interest margins as interest rates spike, he told CNBC's "Street Signs Asia" on Tuesday. "A rare small cap play for us at only $2.6 billion market cap, the company has been a dividend grower (with significant annual special dividends on top) since day one … they have no debt on the balance sheet.
The economy has been trending downward for months, but it seems the shoe we've all been waiting to drop — layoffs — is starting to come down. Over on the tech side, Insider is covering the mass layoffs at Twitter, which started last night. Bloomberg reports that Twitter has been hit with a class action lawsuit, alleging staffers were not given enough notice before the cuts. Click here to see all the companies across industries that have already conducted layoffs. Keep updated with the latest business news throughout your day by checking out The Refresh from Insider, a dynamic audio news brief.
Vinay Trivedi, a vice president at General Atlantic focusing on the technology sector. I don't think we necessarily transitioned fast enough to how people learn if we're only doing audio from home. - David Israel, 27, vice president at Credit SuisseAngel Pu Shum is a principal within Warburg Pincus's technology group. -Allison Boxer, 29, senior vice president and economist at PIMCONoah Zerance, a vice president with Bank of America's global sustainable-finance group. and the response would be, 'Well, we don't know how we do it yet.
If Credit Suisse loves its bankers, set them free
  + stars: | 2022-10-21 | by ( Liam Proud | ) www.reuters.com   time to read: +6 min
LONDON, Oct 21 (Reuters Breakingviews) - Credit Suisse (CSGN.S) is a weak bank with some strong bankers. SECOND COMINGImagine, then, that Credit Suisse spins out its advisory and capital-markets business. But Credit Suisse has never quantified the business it wins from intragroup referrals, which suggests it is low. In this case, it will be higher if those people are no longer at Credit Suisse. First Boston was a U.S. investment bank in which Credit Suisse first bought a stake in 1978.
2022 kicked off with some huge transactions, from AT&T's WarnerMedia spin-off to private equity scooping up content players. Brad Pitt's production company, Plan B, and Diamond Sports Group both recently tapped big banks to explore their options. Not surprisingly, WarnerMedia was at the heart of the richest transaction fee waterfall for big banks in 2022. Moelis and LionTree were just tapped to help figure out what's next for Sinclair's Regional Sports Networks, Diamond Sports Group, while Brad Pitt's production company, Plan B, also hired Moelis to shop the production company, according to Variety. There's lots of dry powder still in private equity, Navid Mahmoodzadegan, co-founder and co-president at investment bank Moelis, told Insider.
Watch CNBC's full interview with Ken Moelis of Moelis & Company
  + stars: | 2022-10-18 | 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 EmailWatch CNBC's full interview with Ken Moelis of Moelis & CompanyKen Moelis of Moelis & Company joins 'Closing Bell' to discuss Fed policy, the Inflation Reduction Act and what he thinks about the upcoming midterm elections.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed's Jackson Hole comments led to a rapid increase in volatility, says Moelis & Company CEOKen Moelis of Moelis & Company joins 'Closing Bell' to discuss Fed policy, the Inflation Reduction Act and what he sees heading into the midterm elections.
NEW YORK, Oct 18 (Reuters) - Moelis & Co. has hired two former Morgan Stanley bankers, Arek Kurkciyan and Dennis Crandall, as managing directors to help drive dealmaking in the life sciences and outsourced pharmaceutical services sectors for the investment bank. Both Kurkciyan and Crandall were managing directors in the healthcare investment banking unit at Morgan Stanley. Register now for FREE unlimited access to Reuters.com RegisterIn their previous roles at Morgan Stanley, both bankers worked on significant deals involving large healthcare corporations and financial sponsors. In recent months, Moelis has been attempting to shore up its healthcare M&A unit. It recently hired another senior banker Igor Sokolovsky to help with dealmaking across sectors, with a special focus on healthcare.
Brad Pitt’s Plan B Entertainment is exploring strategic options including a possible sale of all or part of the company, according to people familiar with the situation, following a wave of similar deals involving independent production firms. The company, whose credits include Oscar-winning films such as “12 Years a Slave” and “Moonlight,” has retained boutique investment bank Moelis & Co. to explore a deal, the people said. There is no guarantee that the discussions will result in a transaction.
How Cowen’s golden parachutes landed with a thud
  + stars: | 2022-10-07 | by ( John Foley | ) www.reuters.com   time to read: +7 min
It's not unusual for executives to have so-called golden parachutes that trigger when their company is sold. Compared with the $400 million TD might have had to pay, that sounds like a bargain. But as a proportion of the overall deal value, Cowen’s executives punch above their weight. So even if Cowen’s top brass have agreed not to open their golden parachutes, they’ll still land at TD with considerable impact. The deal included a renegotiation of the severance packages held by Cowen’s top six executives, including Chief Executive Jeffrey Solomon.
2022 kicked off with some huge transactions, from AT&T's WarnerMedia spin-off to private equity scooping up content players. Company valuations are set to fall back to earth in 2023, and private equity and strategics are lying in wait. Not surprisingly, WarnerMedia was at the heart of the richest transaction fee waterfall for big banks in 2022. Joshua Grode's Legendary Entertainment, backed by Dalian Wanda and now Apollo Group, which took a stake in the studio in January. There's lots of dry powder still in private equity, Navid Mahmoodzadegan, co-founder and co-president at investment bank Moelis, told Insider.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWashington D.C. continues to send mixed messages on inflation, says Eric CantorEric Cantor, former House majority leader and managing director at Moelis and Company, joins CNBC's 'Squawk Box' to react to the Federal Reserve's decision to raise interest rates by 75 basis points.
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