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Bankers expect more consolidation if slump in mergers and acquisitions persists
Japanese financial groups have been beefing up their US presence
Wall Street bank considers eliminating fewer than 250 employees after making deeper reductions earlier in the year
Plus, Lazard’s next boss prepares for a turnround and Jamie Dimon returns to China
Peter Orszag to help push financial advisory through tricky global economy
Former adviser to Barack Obama will take top job in October as investment bank confronts slump in dealmaking
Longtime chief executive seeks to buck ‘horrific’ Wall Street record for handing over top jobs
It is hard to justify this research as a revenue generator nowadays — it is more likely a marketing expense
Plus, Allen & Overy and Shearman & Sterling’s transatlantic pact and western banks’ China struggles
Boutique investment bank’s independence ends after 27 years
Japanese group is paying significant premium as it seeks to quicken US expansion
Goldman Sachs unit reports losses and Morgan Stanley’s profits fall as tensions rise between west and Beijing
Three internal candidates vie to succeed Australian banker who turned Wall Street bank into wealth management giant
Head of investment banking arm Peter Orszag set to be named as replacement
The pay and prestige of deal advisers at the big firms have slipped
Decision on Swiss domestic unit expected within months
“Who do you work for?”
JPMorgan must now ensure it can satisfy customers used to ‘white glove’ service
A cynical view would be that both austerity and opportunism are excuses to sell when deal flow is weak
Latest round of reductions comes as Wall Street adjusts to extended dealmaking slump
Expansion designed to prepare for dealmaking rebound and reduce reliance on fixed-income sales and trading
Investment bank’s CEO admits M&A activity has ‘really deteriorated’, forcing it to ‘take action’
Germany’s biggest bank plans to use purchase of broker to expand its UK advisory services
Did the Sheriff of Wall Street clean up equity research or create a new mess?
New York and Tokyo banks seek deeper ties as they try to compete with larger rivals
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