Grupo BTG Pactual, the Brazilian investment bank founded by billionaire Andre Esteves, is working on a bid for JPMorgan Chase & Co.’s physical commodities business, said a person with direct knowledge of the matter.
Cerberus Capital Management LP is seeking buyers for auto lender Chrysler Financial, which the private-equity firm acquired as part of its takeover of Chrysler LLC in 2007, said people with knowledge of the matter.
Citigroup Inc.’s newly appointed Chief Executive Officer Michael Corbat has one big advantage over his predecessor Vikram Pandit -- a housing rebound that’s accelerating enough to help the lender deal with its most troubled investments.
Vikram Pandit hired thousands of employees and invested billions of dollars as he sought to boost Citigroup Inc.’s revenue after fighting to survive the financial crisis. His successor Michael Corbat has another idea: cut.