Investment banking

Credit Suisse Group is close to an agreement to buy Michael Klein's advisory boutique after several rounds of tense negotiations, according to people briefed on the talks.

The Spanish lender, aiming to become a leader among second-tier lenders in the U.S., expects to increase the number of bankers at its securities and advisory unit, its head of corporate and investment banking said.

Wells Fargo nabbed a spot among the top 10 advisors on mergers and acquisitions last year, a first for the firm as it ramps up its investment bank under Chief Executive Charlie Scharf.

Banks saw dealflow weaken in 2022, both for deals on which they advised and for their own M&A involving other banks and fintech companies.

Investment bankers working on mergers and acquisitions need to review their due diligence processes to ensure deals aren't upended by an evolving set of ESG risks, according to Berkeley Research Group.

Across Wall Street, this year's bleak expectations for banker bonuses are rapidly proving true, as a slump in dealmaking ends the industry's war for talent and firms regain the upper hand in setting pay.

Bank of Montreal took a hit in the fiscal fourth quarter as a chill in capital markets weighed on investment banking revenue.

Carlyle Group plans to raise at least $8.5 billion for a new private credit fund, as it competes with rivals to snap up lending business abandoned by banks.

Bonus season is looking grim on Wall Street, with year-end incentive pools expected to drop sharply across the finance industry amid a pullback in mergers and acquisitions, persistent inflation and the threat of a potential recession.

A new debit card for military veterans, Google expands a billing test and more in banking news this week.