By Nell Mackenzie and Anousha Sakoui LONDON (Reuters) – Hedge fund managers making bets on mergers and acquisitions outperformed those deploying other strategies with a return of 7.7% in the first five months of 2024, Goldman Sachs said in a note to clients, as deal-making rebounded. Although Goldman did not offer a year-earlier figure for …
M&A-focused hedge funds lead the pack in May, Goldman Sachs says Read More »
(Reuters) -Tesla shareholders will vote on Thursday on whether to ratify CEO Elon Musk’s $56 billion pay package, which a Delaware judge voided in January because she found he improperly controlled the process. The company’s attempt to seek a shareholder re-vote on the record-breaking pay has put the spotlight on CEO compensation in corporate America. …
Factbox-How Elon Musk’s pay package compares with other top CEOs in the US Read More »
(Reuters) – Wells Fargo last month terminated over a dozen employees after reviewing allegations that they were involved in simulation of keyboard activity, creating an impression of active work, Bloomberg News reported on Thursday. The fired employees worked in the bank’s wealth and investment management unit, according to the report, which cited the bank’s disclosures …
DUBAI (Reuters) – Edmond de Rothschild Group, a specialist in asset management and private banking, is set to open an office in Saudi Arabia this year and launch a platform to provide debt finance for infrastructure projects there, the Swiss bank said on Thursday. The platform could help Saudi Arabia with its vast Vision 2030 …
Edmond de Rothschild to open Saudi office and launch debt platform Read More »
By Saeed Azhar NEW YORK (Reuters) – Goldman Sachs aims to double its lending over the next five years to ultra-wealthy private bank clients with account sizes exceeding $10 million, as it gathers more deposits to supercharge lending, the bank’s private banking chief told Reuters. The plans, previously unreported, were disclosed to Reuters by Nishi …
Exclusive-Goldman Sachs aims to double lending to wealthy private bank clients Read More »
LONDON (Reuters) – British wealth manager St James’s Place said on Thursday it had hired UBS executive Caroline Waddington to be its chief financial officer, succeeding Craig Gentle who plans to retire. Waddington was previously chief financial officer of UBS’s Credit Suisse entities in Britain, following the takeover of the stricken Swiss bank by its …
By Mehnaz Yasmin and Divya Chowdhury (Reuters) – Bond markets would likely benefit if U.S. President Joe Biden is re-elected as his administration will try to raise taxes to offset some of the government spending, Morgan Stanley’s chief investment officer said on Wednesday. However, under the scenario that former President Donald Trump were to win …
Biden win would benefit bonds, Trump better for growth, says Morgan Stanley CIO Read More »
By Elizabeth Howcroft LONDON (Reuters) – Britain’s Revolut is to become the first tenant in a newly refurbished building in London’s Canary Wharf financial district, taking on 40% more floorspace for its new headquarters as the fintech firm accelerates hiring. Bankers arriving in Canary Wharf will soon be greeted by giant “Revolut” logos on top …
Revolut picks new Canary Wharf HQ as it expands headcount Read More »
By Lananh Nguyen NEW YORK (Reuters) -The oldest U.S. bank is getting a new name. Bank of New York Mellon is embracing BNY as its new moniker, it announced on Tuesday. The company also unveiled block-lettered signs with the three-letter name across its major offices. Since it was founded 240 years ago by Alexander Hamilton, …
Alexander Hamilton’s bank is getting a new name: BNY Read More »
By Chris Taylor NEW YORK (Reuters) – If you are a new graduate trying to move away from home and get your start in life: Sorry. For aspiring homebuyers, the United States just experienced its highest-priced April ever recorded, according to the National Association of Realtors. As for renting, that is unaffordable for half of …
Three tips for parents of ‘boomerang’ kids who move back home Read More »
