Wall Street bosses cheer investment banking gains but stay cautious

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 52 sec. here
  • 10 min. at publisher
  • 📊 Quality Score:
  • News: 52%
  • Publisher: 63%

Morgan Stanley News

Investment Banking,Capital Markets,Goldman Sachs

Wall Street's bosses are finally seeing signs of a broader pickup in investment banking, but they are not cheering too loudly just yet. Investment banking...

Wall Street bosses cheer investment banking gains but stay cautiousNEW YORK - Wall Street's bosses are finally seeing signs of a broader pickup in investment banking, but they are not cheering too loudly just yet.

"We're just happy to see the investment banking activity improve," BofA's finance chief Alastair Borthwick told journalists. He cited efforts to deepen is presence in middle markets and boost collaboration between corporate and commercial bankers. "We are cautiously optimistic that we could see a measured reopening of the IPO market in the second quarter," Citigroup CEO Jane Fraser told analysts on Friday.

At JPMorgan, Chief Financial Officer Jeremy Barnum also struck a cautious note even as investment banking revenue climbed 27% to $2.0 billion. Goldman's Solomon expects private equity firms, or financial sponsors, to get more involved in deals in an effort to start returning capital to investors.Citigroup shares are up nearly 11% so far this year, outpacing peers including JPMorgan and Bank of America, which have gained 6% and 3%, respectively. Goldman shares have risen 3%, contrasting with a 3% decline for Morgan Stanley. The S&P 500 banks index has climbed 6%.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 47. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Wall Street takes a 2% hit in cash bonuses: Investment banking slumpCash bonuses on Wall Street experienced a decline in 2023, with an average fall of approximately 2%. This downward trend in bonus payouts can be attributed...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Wall Street opens higher, edging back toward recordsNEW YORK (AP) — Stocks are opening higher on Wall Street. The S&P 500 rose 0.3% early Tuesday, coming off a listless performance where it edged a bit further from its all-time high set last week.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Stock futures pop as Wall Street looks to continue record-setting runA bullish mood is prevailing on Wall Street.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »