Wall Street bosses cheer investment banking gains but stay cautious

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.

Citi hired JPMorgan’s former co-head of investment banking, Viswas Raghavan, who is tasked with growing its banking revenues when he joins later this year. Morgan Stanley’s Pick is more optimistic than other CEOs on the effect of geopolitical risks, saying in some cases it can even create incentive for international deals if global conflicts affect supply chains.

South Africa South Africa Latest News, South Africa South Africa Headlines

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

Wall Street bosses cheer investment banking gains but stay cautiousWall 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...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

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 »