U.S. investment bank Guggenheim Securities will begin its European expansion by hiring four senior bankers from Greenhill, three sources familiar with the matter told Reuters.
A clutch of U.S. regional lenders saw deposits drop in the first-quarter as clients reeling from a crisis of confidence in the banking sector moved to bigger institutions and sought refuge in money market funds.
The biggest threat to the economic outlook is a credit squeeze that has not finished filtering through the financial system, a senior official at Fidelity Investments told a European equities conference on Wednesday.
Credit Suisse was accused on Thursday of having "learnt nothing" from the 2008 financial crisis on the first day of a trial at London's High Court over residential mortgage-backed securities.
Huntington Bancshares Inc on Thursday reported a first-quarter profit that narrowly beat analysts' estimates, as a boost from higher interest rates offset a hit from bigger provisions.
The vice chairman of big UBS shareholder BlackRock Philipp Hildebrand said on Thursday attention was now on how the bank positions itself going forward following its forced rescue of Credit Suisse last month.
Comerica Inc on Thursday beat Wall Street estimates for first-quarter profit, as the regional lender's interest income surged from the U.S. Federal Reserve's rate hikes and helped soften a blow from a fall in deposits.
Blackstone Inc , the biggest manager of assets such as private equity and real estate, said on Thursday its first-quarter distributable earnings fell 36% year-on-year, as a weak property market stopped it from cashing out on some holdings.
American Express Co's first-quarter profit missed Wall Street estimates as the credit card giant set aside more money to cover potential losses stemming from cardholders falling behind on debt repayments.
Banco BPM will work on updating its strategic plan in the coming months and is confident it can raise its financial targets, Chief Executive Giuseppe Castagna said as the bank's shareholders handed him another mandate.
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