Investment banking

Tom Drake is joining Wells from Barclays as a managing director in its mergers-and-acquisitions group focusing on health care services and medical-technology deals. Chris Norman, most recently at Citigroup, is joining as a managing director in M&A focusing on technology in San Francisco.

Citigroup executive Jay Collins says the company is "absolutely interested" in arranging new deals in the market for debt-for-nature swaps, which allow countries to restructure their debt in exchange for promises to protect the environment.

UBS Group AG poached nearly a dozen of the firm's top technology bankers, while others have left for Pickering Energy Partners and Jefferies Financial Group Inc.

The unit's CEO, Jeff Leerink, and his management team are said to be preparing to announce a deal for the firm in the coming days, pending approval from the U.S. Bankruptcy Court for the Southern District of New York.

The longtime executive and former Trump Administration official will rejoin Goldman colleagues at merchant bank BDT & MSD Partners.

The $15 a share price represents a 121% premium to where Greenhill's stock traded at the close of Friday, before the deal was announced.

Lazard posted a surprise loss for the first quarter and in April announced plans to reduce its workforce by 10% this year, predicting a slowdown in M&A advisory business will last through 2023.

The banking and trading group is expected to shoulder many of the reductions, which come a few months after the firm trimmed about 2% of its workforce.

Morgan Stanley's investment bank and its giant wealth unit surpassed analysts' expectations in the first quarter even as profits fell from a year earlier, dragged down by a drop-off in dealmaking and a jump in loan-loss provisions.

Fixed-income trading revenue declined 17% in the first quarter, contributing to firmwide revenue that fell short of analysts' estimates. Overall net income dropped 19% to $3.09 billion.