Investment Banks

Goldman Sachs no longer wants to be the bank for everyone. The storied investment bank spent eight years attempting to expand its business beyond corporations and the wealthy. But in recent months, Goldman has signalled a partial retreat from those efforts by scrapping plans for a checking account broadly available to the public and mothballing its personal loan business. A popular savings account and a credit card business survive for now. Last week, the bank disclosed that it had accumulated USD 3 billion in losses in its consumer banking franchise since 2020, mostly money set aside to cover potential loan losses in its Marcus personal loan business. Bank regulators are reportedly looking into whether the consumer business had proper safeguards in place as it grew larger. The retreat in consumer banking comes as Goldman tries to refocus on its roots: advising corporations on deals, investing, and trading, and servicing the well-to-do. The firm's revenue from investment banking, .

It also reported a pre-tax loss of $778 million in its platform solutions unit

Credit Suisse has laid off about one-third of its China-based investment banking team and nearly half of its research department

Acquired stakes of partners Arun Sheth, Dhiren Sheth and Dilip Bhatt. Vora will now serve as chairperson and MD of PL Group

The firm is looking to fill positions from analyst to director levels across sectors including financial services, health care and technology

With its share price slumping by more than half this year, the 166-year-old institution has been vulnerable to rumors of takeover bids and concerns over its stability

The move comes as the Wall Street titan has sought to cut its reliance on volatile trading and investment banking revenues by boosting its fee-based businesses.

Navin Wadhwani has headed M&A for oil-to-retail conglomerate Reliance for the past 10 years and was previously a senior managing director at Rothschild India

Even some big-ticket deals such as the LIC IPO did not generate higher fees

The fund has set an overall target of raising Rs 500 crore and has received commitment of Rs 25 crore

The expansion comes as India's dealmaking is bucking a global downturn driven by concerns over heightened inflation and a potential recession

Under proposals to the board, the bank is looking to sell profitable units such as its securitised products business to prevent a damaging capital raise, the report said

Many are beefing up their investment banking teams and pitching for deals which otherwise would have gone to larger banks

Centre is looking to sell its residual 29.5% in tranches through offer for sale mechanism

Investment banking revenue fell 41% to $2.14 billion in the quarter

Investments drive growth but how will investors get funds if the savings pile shrinks with no incentive to save in a negative interest rate regime?

Seven states accounted for 63.3% of overall deposits; share of female holdings in incremental deposits more than doubled

They witnessed higher gains from parking funds with RBI and income from investments; as rates rise, space for both would shrink

Russia's invasion of Ukraine and significant monetary tightening have led to volatile trading in financial markets this year

Galactico Corporate Services hit a new high of Rs 249.65 and was locked in upper circuit of 5 per cent for 14 straight trading days.