Morgan Deemed ‘Winner’ in Moody’s Bank-Rating Massacre
Fifteen banks in the U.S., U.K. and Europe with global capital markets operations saw their ratings cut by Moody’s, some by as many as three notches.
Credit Suisse Selling Risky Assets to Own Employees
In its quest to raise cash and get risky assets off its balance sheet, Credit Suisse Group found some willing buyers very close to home: its own employees.
European Markets, Italian Bonds Down
Worries over the European debt crisis drove markets and Italy’s bonds lower on Monday, with gold and the dollar gaining over the euro. Angela Merkel’s party lost elections in Germany over the weekend as well, showing opposition to euro bailouts the German chancellor has advocated.
Chinese Jewelry Retailer Names Seven Banks to Aid IPO
Chow Tai Fook, a decades-old Chinese jewelry retailer with 1,400 stores, has hired seven banks to underwrite its forthcoming IPO in Hong Kong,it was reported late Monday. The main underwriters are to be Deutsche Bank, Goldman Sachs Group, HSBC Holdings and JPMorgan Chase.
'Mack the Knife' Joins Pequot
NEW YORK (HedgeWorld.com)--John Mack, whose cost cutting and streamlining skills earned him the Wall Street nickname "Mack the Knife," has joined Pequot Capital Management Inc. as the hedge fund firm's chairman. Arthur J. Samberg will remain as chief executive and continue to oversee management of the firm and its investment...