As David Solomon sees his industry, the glass is a little more than half full.
From ketchup to communications, bankers jockeyed for a smaller volume of bond deals last year as fees slid 1.7 percent to $18.9 billion.
For the past two years, investment bankers who rely on fee income from mergers and acquisitions have talked optimistically in January only to see deal volume fall, or flat line.
Six litigation and leveraged finance partners are leaving Orrick Herrington & Sutcliffe LLP to join Shearman & Sterling LLP in New York.
Barclays Plc reported full-year profit that missed analyst estimates as litigation and compensation charges complicated Chief Executive Officer Antony Jenkins’s overhaul of Britain's second-biggest bank by assets.
Entegris Inc. agreed to acquire ATMI Inc. in a deal valued at $1.15 billion, combining suppliers of semiconductor materials to seek larger orders.
Most banks are losing money trading stocks in Europe when their cost of capital is considered, said the top equity derivatives executive at BNP Paribas SA.
Barclays Capital, the securities unit of Barclays Plc, cut the amount it paid to employees by 9 percent in 2011, drawing criticism from investors as investment banking profit shrank.
Chile’s central bank signaled it may resume interest rate cuts as the economy grows at the slowest pace in more than two years, after keeping borrowing costs on hold yesterday.
Michael Wilson, a former Canadian finance minister and ambassador to the U.S., said bond yields have fallen so low they are no longer compensating for risks.
"The risk of a spillover of Tunisia's crisis to the rest of the Middle East and North Africa is not negligible."
- Barclays Capital on Jan 17, 2011
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