CIBC led Canada’s investment banks in advising on Canadian mergers last year, ousting foreign firms such as Goldman Sachs Group Inc. and Morgan Stanley from the top-three spots for the first time in at least a dozen years.
Swiss banks will likely settle a sweeping U.S. probe of offshore tax evasion by paying billions of dollars and handing over names of thousands of Americans who have secret accounts, Bloomberg News’ David Voreacos, Klaus Wille and Giles Broom report.
Citigroup Inc. was accused of fraud by Moneygram Payment Systems Inc., the electronic cash-transfer business, in a lawsuit seeking to recover an alleged $140 million in collateralized debt obligation losses.
Goldman Sachs Group Inc., the fifth-biggest U.S. bank by assets, will get a $20 million fee for advising El Paso Corp. if the pipeline company completes a planned $21 billion sale to Kinder Morgan Inc.
Zynga Inc., the top developer of games for Facebook Inc.’s site, will file paperwork for an initial public offering today, said GreenCrest Capital Management LLC, which cited a “major investor” in the startup.