Investment banking

Investment bankers have are trying to drum up interest from investment firms and hedge funds to provide tens of billions of dollars in financing to companies in industries upended by the coronavirus.

Tim Sloan, the former chief executive of Wells Fargo, joined Fortress Investment Group as a senior adviser.

The rebound, combined with strong earnings from debt underwriting and consumer banking, pushed net revenue for the period to the highest since 2015.

The institutional clients group will add the jobs in New York, London, Shanghai and several other cities across the globe.

Morgan Stanley is the latest firm to make a year-end efficiency push, eliminating about 1,500 jobs, according to people familiar with the matter.

Named interim CEO in August, Noel Quinn now appears to be the front-runner to lead the global bank's next turnaround.

The decline in revenue from capital markets undercut gains in consumer banking and pushed fiscal fourth-quarter earnings below analysts’ expectations.

The Bank of England fined Citi $57 million for failing to properly report capital and liquidity levels at its European investment bank and other global operations.

The credit bureau will consider borrowers’ rental payment history and professional licenses; bank looks to build business on the other side of the Atlantic.

Executives are deciding what roles could be relocated to lower-cost hubs such as Plano, Texas; Columbus, Ohio; and Wilmington, Del.