After 12 years of Mayor Michael Bloomberg boosting New York’s finance industry, Wall Street is adjusting to the almost inevitable election of Bill de Blasio, who is campaigning against income inequality and calling for higher taxes on the rich.
Siguler Guff & Co. and Cerberus Capital Management LP, two private-equity firms whose specialties include distressed debt, are teaming up to buy nonperforming loans, according to two people briefed on the investment vehicle and Delaware state records.
Joseph Lhota was Rudy Giuliani’s deputy on Sept. 11 and head of the agency that brought back the subways after Hurricane Sandy. He says that makes him the most qualified candidate to keep New York City from reverting to the days of crime and dysfunction.
A former JPMorgan Chase & Co. banker told jurors at a bid-rigging trial about a dinner meeting at a Manhattan restaurant where municipal derivatives executives from his firm and UBS AG agreed not to compete with one another.