Page 3 - Investment Banks

Banking investments

New norms will impart stability

SBI Caps asks ARCs to make final offers for Vidarbha Industries' debt

Aditya Birla ARC has joined hands with Varde Partners of Singapore to acquire the company's debt, said a banking source

India's announced M&A deals increase 5.2% YoY; reach above 1,400 in H1

Domestic M&A activity totaled $16.7 billion, down 83.2% from the same period in 2022. Inbound M&A fell 46.3% from a year ago and totaled $12 billion

Nomura India's Head of Investment Banking Utpal Oza steps down: Report

Amit Thawani, managing director and head of coverage investment banking has taken over from Oza, the sources said

China's top investment bank CITIC cuts base salary by up to 15%: Report

The country's top investment bank by market value has also yet to pay bonuses to bankers for work done last year, the two sources close to the matter said

Morgan Stanley's profits decline in Q1 amid investment-banking slowdown

Net income slid 20% from a year earlier to $2.84 billion amid a slowdown in the trading and banking businesses. The firm's investment bank was able to stave off a steeper drop

Investment bank Goldman Sachs to partially retreat from consumer banking

Goldman Sachs no longer wants to be the bank for everyone. The storied investment bank spent eight years attempting to expand its business beyond corporations and the wealthy. But in recent months, Goldman has signalled a partial retreat from those efforts by scrapping plans for a checking account broadly available to the public and mothballing its personal loan business. A popular savings account and a credit card business survive for now. Last week, the bank disclosed that it had accumulated USD 3 billion in losses in its consumer banking franchise since 2020, mostly money set aside to cover potential loan losses in its Marcus personal loan business. Bank regulators are reportedly looking into whether the consumer business had proper safeguards in place as it grew larger. The retreat in consumer banking comes as Goldman tries to refocus on its roots: advising corporations on deals, investing, and trading, and servicing the well-to-do. The firm's revenue from investment banking, .

Goldman Sachs sees 69% drop in Q4 net profit on dealmaking slump

It also reported a pre-tax loss of $778 million in its platform solutions unit

Credit Suisse lays off one-third of China-based investment bankers

Credit Suisse has laid off about one-third of its China-based investment banking team and nearly half of its research department

Amisha Vora increases stake four fold to 96% in Prabhudas Lilladher

Acquired stakes of partners Arun Sheth, Dhiren Sheth and Dilip Bhatt. Vora will now serve as chairperson and MD of PL Group

M&A recovery: Kotak Mahindra Bank plans to hire 20 investment bankers

The firm is looking to fill positions from analyst to director levels across sectors including financial services, health care and technology

Credit Suisse is not for the sale, says chairman Axel Lehmann

With its share price slumping by more than half this year, the 166-year-old institution has been vulnerable to rumors of takeover bids and concerns over its stability

Goldman Sachs plans major rejig, to merge trading and banking units

The move comes as the Wall Street titan has sought to cut its reliance on volatile trading and investment banking revenues by boosting its fee-based businesses.

JPMorgan names former Reliance M&A head as India investment banking chief

Navin Wadhwani has headed M&A for oil-to-retail conglomerate Reliance for the past 10 years and was previously a senior managing director at Rothschild India

I-banking fees dip in nine months to September as smaller deals dominate

Even some big-ticket deals such as the LIC IPO did not generate higher fees

Inga, TIH Singapore tie up to launch PE fund for mid-sized companies

The fund has set an overall target of raising Rs 500 crore and has received commitment of Rs 25 crore

Rothschild plans to hire 7 bankers in India before year-end for expansion

The expansion comes as India's dealmaking is bucking a global downturn driven by concerns over heightened inflation and a potential recession

Credit Suisse considers splitting investment bank in three: Report

Under proposals to the board, the bank is looking to sell profitable units such as its securitised products business to prevent a damaging capital raise, the report said

Smaller i-banks join big-fat IPO party; large players get picky

Many are beefing up their investment banking teams and pitching for deals which otherwise would have gone to larger banks

Centre shortlists six investment banks to assist in HZL stake sale

Centre is looking to sell its residual 29.5% in tranches through offer for sale mechanism