North America

Removing UK bonus caps and undermining the BoE could exacerbate a sterling crisis while entrenching US IB dominance.

An extraordinary series of data protection failures at Morgan Stanley’s wealth management business has seen the SEC fine the company $35 million.

As the world’s biggest investment banks prepare to report third-quarter earnings in October, the signals are bad across the board.

If you want to get ahead in investment banking it is time to hit the beach.

Anti-ESG boycotts are unlikely to cross the Atlantic.

Bank of Cyprus has its quirks – such as a sanctioned oligarch as a large shareholder – but it is far from the only European bank with good potential still shunned by mainstream investors.

China’s decision to let US regulators audit its New York-listed corporates is a shock. It’s a U-turn, a climbdown and a sign, more than anything, of China’s enduring financial frailty.

The $100 million line of credit from Dai holders to a Pennsylvania community bank to support commercial loans should have been a breakthrough, but further deals are on hold as the crypto purists fight back against the pragmatists seeking more exposure to real-world assets rather than digital ones.

Wall Street’s junior human capital resources may not appreciate that there is now a bear market for their output, and that could spell tough times ahead.

Bank shares have failed to close a valuation gap with fintech competitors despite the prospect of higher interest income from rate hikes. Will the Fed’s newly tough stance on inflation-busting finally give bank stocks some respect?

A US climate bill filled with green credits will create business for banks and provide relief from the backlash against ESG products.

West Virginia state treasurer Riley Moore has opened another front in a campaign by Republican officials in the US against banks that promote ESG policies.

UN CFO Taskforce member Jill Klindt talks to Euromoney about ESG disclosure challenges for SMEs and the need for all firms to produce consistent, auditable data.

Groups such as Ontario Teachers’ Pension Plan, CDPQ and British Columbia Investment were forerunners in the development of new private-market asset classes, particularly infrastructure. Euromoney traces the evolution of the funds’ approaches and scale to the point where they are desired partners for private assets worldwide.

Supposedly disappointing second-quarter earnings should have surprised no one and Morgan Stanley’s were quite good.

China’s support for Russia is part of its strategy to reduce the world’s dependence on the greenback – might it work?

Altrata’s report is a fascinating study of the world’s billionaires and finds the 1% now has its own 1%.

By hiring two private bankers from outside the industry to power its Asia family-office business, Citi offers further proof that its peers should take its ambitious regional wealth management plans seriously.

Banks want to capitalize on the surge in green capex borrowing as corporates rush to decarbonize. Cost inflation has increased the risks involved but not the long-term benefit of carbon reduction.

As investors and dealers struggle with inflation levels not seen for 40 years, the only good news is that markets are still functioning… for now.

Markets are trading interest-rate expectations over actual rate decisions – proving the power of market sentiment.

By making Valentin Valderrabano COO of Citi Global Wealth, the US bank demonstrates its willingness to think outside the box when promoting from within.

With the US Federal Reserve apparently keen to step up the pace of interest-rate rises over the coming months, it is not just emerging market currencies that are expected to suffer.

Euromoney speaks to Benjamin Seal, vice-president of treasury at US-based Cenveo, about how accurate cash forecasting has helped to address the supply-chain challenges posed by the global pandemic.

A new approach to crypto derivatives could signal big structural shifts for traditional financial derivatives away from intermediaries and central clearing.

Euromoney hit the road in style during April, driving for eight hours in the snow to cover one story.

The US government’s case against Archegos Capital sets up a contest to guess which of the fund’s prime brokers was the most gullible at any given time. To keep the game interesting, the answer might not always be Credit Suisse.

As their involvement in fintech matures, large banks are focusing on building standalone digital businesses rather than just taking stakes in third-party startups through venture capital funds and accelerators. Can these new in-house ventures disprove the thesis that incumbent banks can’t create disruptive business models?

The first three months of the year have been tough for many investment banking business lines, but Europe’s banks are putting up a good fight against the might of the US firms.

Rate increases in major economies away from the US, as central banks battle spiralling inflation, have weakened the momentum the dollar might otherwise have garnered from a hawkish Fed.