Banks

  • 17 Dec 2014 at 12:49 PM

Sage Kelly Bids Jefferies Adieu

sage kellyAfter taking a timeout earlier this year to deal with matters related to coke, shrooms, Molly, wife-swapping, toilets, ketamine, more coke, and, in a twist, being named father of the year, Sage Kelly has decided to make this thing permeant. Read more »

Here to help.And it’s going to do it the hard way: Not by buying someone else’s ETF platform, both because that wouldn’t really be a GOLDMAN SACH ETF platform and because there’s no sport in it, but by doing it all themselves. Maybe with a little help from on high. Read more »

  • 17 Dec 2014 at 9:45 AM

Bonus Watch ’14: Jefferies

jefferiesHopefully Jefferies employees enjoyed last year’s bonuses because there’s reportedly a lot more where that came from. Read more »

  • 16 Dec 2014 at 10:00 AM
  • Banks

Layoffs Watch ’14: Citi Mailroom

Lost in the mail.Given all of the shit that Mike Corbat’s had to deal with this year from all corners—Mexico, Argentina, subprime lending, Jed Rakoff, paying lawyers—he really doesn’t need to be cutting $3 million checks because someone forgot to throw a few hundred thousand prospectus in the mail. Read more »

God Smiles Upon His Chosen Bankers

Par-ty!If you had any doubt that the Big Guy (well, the other Big Guy) plays favorites, he bestowed a nice little treat on the House of Lloyd this week. Read more »

toysrusThe investment banks promised favorable research to Toys “R” Us Inc. and its private-equity owners to win roles in its initial public offering, the Financial Industry Regulatory Authority said today in a statement. The regulator fined the firms a total of $43.5 million, faulting them for “implicitly or explicitly” making promises that their analysts would give positive coverage. Six of the 10 firms didn’t have adequate supervisory procedures to prevent the practice…In May 2010, Citigroup’s investment bankers hosted a chaperoned call with the firm’s research analyst, who then e-mailed a supervisor. “I so want the bank to get this deal!” the analyst said in the e-mail, according to Finra. Days later, bankers told the retailer that they could “count on Citi’s firm-wide support and advocacy for the Toys story and valuation.” Other firms contacted Toys “R” Us after making their pitches, expressing enthusiasm about the firm’s prospects and providing assurances that the views of bankers and analysts were aligned, Finra said. Toys “R” Us and investors, including KKR & Co., withdrew the IPO filing last year. [Bloomberg]

  • 11 Dec 2014 at 9:45 AM
  • Banks

UBS Is Looking For A Few (Thousand) Good Brokers

He wants YOU! If you're a badass, that is.Make that great brokers. Gods among mere mortal brokers. Heroes whose insight and sheer animal magnetism makes rich people simply throw money at them. For only when Sergio Ermotti has found these giants shall UBS achieve its goals of tripling its more lucrative wealth-management assets and humbling its rivals. Read more »

Nothing is fucked, Dude.Mike Corbat is going to go ahead and just send every one of the 54 billion nickels Citi’s going to make this quarter to the bank’s lawyers, the latest last big legal charge it will have to take, he swears. Read more »