Investment banking

New technologies are poised to sweep through investment banks, relieving many rank-and-file employees of roughly a third of their current workload, according to McKinsey & Co.

The Japanese firm is expanding its U.S. investment banking unit to look more like its bigger Wall Street rivals.

CIT will provide revolving and term loan commitments of up to $100 million through a partnership with the Northbrook, Ill., insurance company.

Wells Fargo, which is expanding its investment banking unit, has hired Mike Mayo to oversee U.S. large-cap bank research.

Stuart Scott was apprehended at the request of the American government as part of a probe into foreign-exchange-trading practices.

Citigroup joined B of A and JPMorgan in predicting double-digit declines for second-quarter trading revenue. The situation adds to the many revenue challenges facing banks.

Citigroup has agreed to sell its fixed-income analytics and index business, which includes the nearly 30-year-old Yield Book platform, for $685 million.

Bank agrees to pay $97 million as DOJ drops criminal charges involving money laundering at Citi uni; digital currency price roars past $2,200 as Japanese catch the bitcoin bug.

Citi says David Madaras sent a profane message that confirmed the name of a confidential client, but he says the messages were read out of order and misunderstood.

In November 1999, we covered the repeal of a Depression-era banking law in the style of an obituary. It seemed unthinkable that today we'd be talking about a resurrection.

Fees from capital markets activities have propelled profits at several regional banks when they needed it —and just as the Glass-Steagall redux crowd wants to kill that business.

The Atlanta company's profits rose on stronger net interest income and investment banking income as well as a tax maneuver.

Despite merger-related charges, the Cleveland bank's first-quarter profit climbed 63% as the addition of a million new customers led to strong gains in both interest and fee income.

The number of deals in early 2017 was similar to the same period last year, though the pricing has increased. Also see which M&A advisers were the most active for each region during 2016 in our annual ranking.

The German lender says that the Justice Department closed a criminal inquiry into its currency-trading activities without action, but regulators are said to be in the final stages of their own reviews of that conduct to determine if any fines are in order.

Jim Rosenthal previously served as chief operating officer at the Wall Street investment bank. He joins the board of an online lender that has recorded losses in five straight quarters.

The public-private effort, aimed at expansion-minded tech and other companies with proven track records, would be backed by the country’s six largest banks, insurance companies and regional lenders.

The bank and one of its investors are planning a sale of common stock that could help fund growth initiatives.

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.

In a sharply worded message to staff, Lloyd Blankfein, Goldman Sachs' longtime head, broke with the Trump administration over its controversial attempt to crack down on immigration.