Roy Smith News
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Hedge funds using debt-trading strategies honed on Wall Street are expanding at a record pace as they profit from risks big banks are no longer taking.
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Steven Kantor, then head of investment banking for Cantor Fitzgerald LP, gathered his staff about a year ago for a holiday party in his 82nd-floor apartment in Trump World Tower overlooking the United Nations.
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Two decades after Citigroup Inc.’s William Rhodes helped Latin American nations restructure their debts, investors are telling him a similar solution may fix the euro area’s borrowing crisis.
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Wall Street’s five biggest banks reported the worst start to a year since 2008. They’re still asking investors to be patient.
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Wall Street junk-bond underwriters, selling debt at a record pace after the securities returned 19 percent last year, say it’s obvious that prices will drop when interest rates rise. So don’t blame the banks.
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Carsten Kengeter ’s appointment as head of investment banking at UBS AG , Switzerland’s largest lender, is one more sign that on Wall Street debt is king.
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After a three-decade career in banking, John Hurst found himself unemployed in November, caught up in Bank of America Corp.’s plans to cut more than 30,000 employees by 2015.
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A Delaware judge’s public rebuke of Barclays Plc over conflicts of interest in the sale of Del Monte Foods Co. may become a calling card for boutique advisory firms such as Rothschild and Greenhill & Co.
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Goldman Sachs Group Inc. selected 110 people to become partners, up from 94 in the last round two years ago, as Wall Street rebounds from the financial crisis.
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Goldman Sachs Group Inc. selected 110 people to become partners, up from 94 in the last round two years ago, as Wall Street rebounds from the financial crisis.
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