Page 2 - Investment Banks

Ather hiring investment banks for IPO this year, eyes raising Rs 3,300 cr

Ather competes with players such as Ola Electric, Bajaj, Ampere, Hero MotoCorp, and TVS Motor Company. It has been making efforts to achieve profitability as it prepares for the IPO

StanChart weighs break up of corporate, investment bank to improve returns

The London-listed bank has been weighed down in recent years, in part as it was forced to set aside more in reserves for souring loans tied to Chinese commercial real estate.

The listing dilemma

When deciding between listing in India and the US, founders should prioritise long-term considerations over listing price

Ethiopia opens up to foreign investment firms ahead of markets launch

The justice ministry authorised the capital markets regulator this week to go ahead with issuing the licences, said Brook Taye, Director General of the Ethiopian Capital Market Authority

We need to be mindful of responsible pricing: Kotak Investment Banking CEO

One takeaway from last year is that most IPOs returned money to the investors, S Ramesh, Managing Director and CEO, Kotak Investment Banking, said

Rainer Gut, who transformed Credit Suisse into global bank, dies at 91

The Swiss-born Gut, whose career included stints on Wall Street, held top positions at Credit Suisse from 1971 to 2000, and was honorary chairman until April

Citigroup profit holds steady in Q3 as investment banking fees jump

The bank's trading unit also boosted revenue, while its division providing treasury and securities services to corporations brought in 12% more revenue

We're the go-to firm when it comes to mid-caps: Equirus MD Ajay Garg

'Equirus is well poised to have leadership in five broad business areas'

Axis Bank investment banking unit's co-CEO Chirag Negandhi resigns

Axis Capital, one of the country's biggest investment banking firms, has been a part of some successful initial public offerings over the past year, including Cyient DLM, Mankind Pharma, Bikaji Food

Banking investments

New norms will impart stability

SBI Caps asks ARCs to make final offers for Vidarbha Industries' debt

Aditya Birla ARC has joined hands with Varde Partners of Singapore to acquire the company's debt, said a banking source

India's announced M&A deals increase 5.2% YoY; reach above 1,400 in H1

Domestic M&A activity totaled $16.7 billion, down 83.2% from the same period in 2022. Inbound M&A fell 46.3% from a year ago and totaled $12 billion

Nomura India's Head of Investment Banking Utpal Oza steps down: Report

Amit Thawani, managing director and head of coverage investment banking has taken over from Oza, the sources said

China's top investment bank CITIC cuts base salary by up to 15%: Report

The country's top investment bank by market value has also yet to pay bonuses to bankers for work done last year, the two sources close to the matter said

Morgan Stanley's profits decline in Q1 amid investment-banking slowdown

Net income slid 20% from a year earlier to $2.84 billion amid a slowdown in the trading and banking businesses. The firm's investment bank was able to stave off a steeper drop

Investment bank Goldman Sachs to partially retreat from consumer banking

Goldman Sachs no longer wants to be the bank for everyone. The storied investment bank spent eight years attempting to expand its business beyond corporations and the wealthy. But in recent months, Goldman has signalled a partial retreat from those efforts by scrapping plans for a checking account broadly available to the public and mothballing its personal loan business. A popular savings account and a credit card business survive for now. Last week, the bank disclosed that it had accumulated USD 3 billion in losses in its consumer banking franchise since 2020, mostly money set aside to cover potential loan losses in its Marcus personal loan business. Bank regulators are reportedly looking into whether the consumer business had proper safeguards in place as it grew larger. The retreat in consumer banking comes as Goldman tries to refocus on its roots: advising corporations on deals, investing, and trading, and servicing the well-to-do. The firm's revenue from investment banking, .

Goldman Sachs sees 69% drop in Q4 net profit on dealmaking slump

It also reported a pre-tax loss of $778 million in its platform solutions unit

Credit Suisse lays off one-third of China-based investment bankers

Credit Suisse has laid off about one-third of its China-based investment banking team and nearly half of its research department

Amisha Vora increases stake four fold to 96% in Prabhudas Lilladher

Acquired stakes of partners Arun Sheth, Dhiren Sheth and Dilip Bhatt. Vora will now serve as chairperson and MD of PL Group

M&A recovery: Kotak Mahindra Bank plans to hire 20 investment bankers

The firm is looking to fill positions from analyst to director levels across sectors including financial services, health care and technology