Goldman Sachs has brought back to its fold senior executive Tom Montag, adding him to its board as the Wall Street giant looks to regain lost ground after its ill-fated foray into consumer banking.
Blackstone Inc said on Thursday its second-quarter distributable earnings dropped 39% amid a slump in asset sales, overshadowing a key milestone of the firm becoming the first manager of alternative investments such as private equity and real estate to amass $1 trillion in assets.
KeyCorp reported on Thursday a bigger-than-expected 50% fall in quarterly profit, as it set aside more rainy day funds amid growing economic uncertainties.
Fifth Third Bancorp on Thursday posted a better-than-expected second-quarter profit, as interest rate hikes by the U.S. central bank boosted its interest income.
Bain Capital has raised $1.15 billion for its first fund dedicated to investing in the insurance industry, as the private equity firm aims to create and invest in companies in the sector, a senior executive told Reuters.
Truist Financial missed estimates for second-quarter profit on Thursday, as the bank set aside more rainy-day funds to cover for potential defaults in a tough economy.
France's post-Brexit success in attracting banks from London to Paris has exceeded expectations and is increasingly showing up in the country's balance of payments, the central bank said on Thursday.
Bank stocks were lower in early trading on Thursday as lenders reported mixed quarterly results, while shares of Discover Financial Services tanked after it disclosed a regulatory review over some of its credit products.
A plan by the top U.S. banking cop to make the sector more resilient may have gotten a boost from the recent banking crisis, but still faces numerous challenges.
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