investment banking

Banks discover money management again as trading declines

By Sree Vidya Bhaktavatsalam, Bloomberg News | December 4, 2012

Global banks, forced by regulators to reduce their dependence on profits from high-risk trading, have rediscovered the appeal of the mundane business of managing money for clients.

Volcker Rule splits regional banks from Wall Street

By Carter Dougherty and Cheyenne Hopkins, Bloomberg | November 2, 2012

Mid-sized banks that mostly let Wall Street and small firms speak for the industry during the debate over the Dodd-Frank Act have decided it’s time to carve out their own agenda in Washington.

Deutsche Bank profit unexpectedly rises on trading revenue

By Nicholas Comfort and Annette Weisbach, Bloomberg | October 30, 2012

Deutsche Bank AG, Europe’s biggest bank, said third-quarter profit climbed after a rally in the bond and stock markets brought a surge in trading revenue. The shares jumped.

Morgan Stanley beats estimates on fixed-income revenue gains

By Michael J. Moore, Bloomberg | October 18, 2012

Morgan Stanley, the sixth-largest U.S. bank, reported third-quarter results that beat analysts’ estimates as revenue from fixed-income trading almost doubled from the second quarter.

Wells Fargo creates markets unit as Stumpf takes on Wall Street

By Dakin Campbell, Bloomberg | October 16, 2012

Wells Fargo & Co., the biggest U.S. home lender, is restructuring sales and trading operations to form a new markets division at its investment bank as the firm challenges more established Wall Street rivals.

Goldman profit beats estimates on investments, underwriting

By Christine Harper, Bloomberg | October 16, 2012

Goldman Sachs Group Inc., the fifth- biggest U.S. bank by assets, reported profit that beat analysts’ estimates on higher underwriting fees and a jump in the value of the firm’s own investments.

Pandit steps down as Citigroup’s chief as Corbat takes over

By Donal Griffin, Bloomberg | October 16, 2012

Citigroup Inc. Chief Executive Officer Vikram Pandit, who led the bank through its government rescue, stepped down and will be replaced by Michael Corbat. The bank slid in early trading.