Investment banking

Credit Suisse Group said that Michael Klein is expected to become chief executive of the spun-out First Boston unit, as a result of the radical restructuring of the Swiss lender's investment bank. 

JPMorgan Chase is set to add another 20 people to its Saudi Arabia operation by the end of the year as it looks to capitalize on one of the world's few bright spots for equity capital markets, despite simmering political tensions between U.S. President Biden and Saudi Crown Prince Mohammed Bin Salman.

Deutsche Bank laid off dozens of origination and advisory staffers within its investment banking division globally as fears of a recession stymie dealmaking, according to a person with knowledge with the matter.

Canadian Imperial Bank of Commerce named Chief Risk Officer Shawn Beber as the new head of its U.S. division and tapped Susan Rimmer to lead the company's global corporate and investment banking franchise.

Royal Bank of Canada's investment banking arm held a round of layoffs in the U.S., according to people with knowledge of the matter.

Citigroup is targeting India as one of its top markets to expand in globally as risks mount in China and other regions, the bank's global co-head of investment banking said.

On paper, the deal was a no-brainer: a $15 billion debt financing that would net banks hefty fees and kick off a year of mega-acquisitions even as central banks tightened the spigots on their pandemic support. Yet eight months after agreeing to finance the leveraged buyout of Citrix Systems, Wall Street is now staring at a very different picture.

Bank of America continues to spend on its people and is looking to add more investment bankers even as inflation pushes expenses higher, Chief Financial Officer Alastair Borthwick said.

Wall Street banks are poised to realize roughly $600 million of losses after offloading financing commitments for the buyout of Citrix Systems to investors Tuesday, the culmination of months of work to try and mitigate the damage from underwriting pledges made early in the year before a sharp repricing of risk assets.

Credit Suisse is considering reviving the First Boston brand name as the Swiss lender seeks ways to boost the fortunes of its beleaguered investment bank, according to people familiar with the matter.