JPMorgan arm ups EcoSecurities offer September 23, 2009 JPMORGAN Chase vehicle Carbon Acquisition Company (CAC) yesterday hiked a cash offer for the carbon offset aggregator EcoSecurities, in a bid to win round shareholders. CAC increased its initial offer of 100p per share to 105p, valuing EcoSecurities at £129m and also bought a further 18.3m shares in the company, taking its stake to nearly [...]
JP Morgan moots Cazenove buyout September 20, 2009 JP MORGAN and its joint venture partner Cazenove are understood to be weighing up an agreement that would see Cazenove sell its interest in the company to the US bank. Under the terms of the deal that saw Cazenove and JPMorgan Chase launch the venture in 2005, JPMorgan has an option to call, and Cazenove [...]
ONE YEAR ON, FORMER LEHMAN STAFF SHARE THEIR EXPERIENCES WITH CITY A.M. September 14, 2009 BISHER ARMANAZII was working as a trader in structured indices derivatives in London when Lehman Brothers went under. I was at home on the Sunday and happened to turn on the TV to see the story that the bank would not be receiving a government bailout. I went straight to a bar with a couple [...]
ONE YEAR ON, FORMER LEHMAN STAFF SHARE THEIR EXPERIENCES WITH CITY A.M. September 14, 2009 BISHER ARMANAZII was working as a trader in structured indices derivatives in London when Lehman Brothers went under. I was at home on the Sunday and happened to turn on the TV to see the story that the bank would not be receiving a government bailout. I went straight to a bar with a couple [...]
CITY MOVES WHO’S SWITCHING JOBS September 1, 2009 Martin CurrieThe investment management firm has appointed Alastair Barrie as global head of hedge fund sales and Clayton Cheek, pictured, as US head of hedge fund sales. Barrie joins from RBS, where he was a director of institutional business. He has also worked as director of global hedge fund sales at Henderson. Clayton, who will [...]
Banks warn against protectionist reform July 23, 2009 GOVERNMENTS and regulators across the world are risking a push towards protectionism in their efforts to shore up the banking system and financial markets, a group of bankers warned yesterday. A report from the Institute of International Finance, which was written by officials from Deutsche Bank and JP Morgan Chase said that governments must develop [...]
Banks warn against protectionist reform July 23, 2009 GOVERNMENTS and regulators across the world are risking a push towards protectionism in their efforts to shore up the banking system and financial markets, a group of bankers warned yesterday. A report from the Institute of International Finance, which was written by officials from Deutsche Bank and JP Morgan Chase said that governments must develop [...]
JP MORGAN REPORTS BUMPER EARNINGS July 16, 2009 JP MORGAN Chase, the investment banking giant, said earnings soared 36 per cent in the second-quarter, boosting hopes of a recession-defying earnings season for Wall Street. The bank unveiled bumper revenues yesterday of $27.7bn (£16.9bn) in the three months to the end of June, thanks in part to strong investment banking revenues. Earnings rose to [...]
Markit to be investigated in CDS probe July 14, 2009 THE US Justice Department (DoJ) has contacted London-based data provider Markit in connection with a probe into the credit default swap (CDS) market. A spokesman for Markit said the company, which is majority-owned by Wall Street banks, had “been informed of an investigation by the Department of Justice into the credit-derivatives and related markets”. “We [...]
Cowdery will chase Friends July 13, 2009 CLIVE Cowdery’s buyout vehicle, Resolution, is prepared to launch a hostile bid for Friends Provident, the life assurance firm led by Trevor Matthews, if it fails to agree a takeover. Cowdery and Matthews may end up battling it out if a friendly deal can’t be struck, with Resolution prepared to ignore the Friends board’s recommendations [...]