Philip Chua Business Blog

Posts Tagged ‘investment bank’

Instead they appointed Temasek unit ST Asset Management – a move backed by the independent directors – in a bid to revive the company’s flagging fortunes.

The move had been opposed by the previous manager, a unit of collapsed Australian investment bank Babcock & Brown, which fell victim to the financial crisis.

Babcock, the firm’s No. 1 shareholder with a 13.8 per cent stake, is in liquidat… more

Reuters – Bruce Wasserstein, the legendary Wall Street deal maker identified with an era of no-holds-barred takeover battles, has died at the age of 61. His death leaves major questions about the future direction and leadership of Lazard Ltd., the investment bank he headed.

Reuters – Bank of America Corp agreed to give federal authorities more information about why it refrained from disclosing details about Merrill Lynch’s performance before it bought the investment bank, U.S. regulators said on Tuesday.

JPMorgan Chase named Jes Staley the head of its investment bank, a move that could put Staley in a position to step in as the new CEO should the bank’s current chief, Jamie Dimon, leave.

NEXT week marks the first anniversary of the shocking demise of United States investment bank Lehman Brothers – a calamitous event which dragged the global financial system to the brink of collapse.
Not surprisingly, the financial media all over the world has been working itself into a frenzy to commemorate the anniversary with verbose write-ups.
But take one glance at the buoyant stock market, an… more

LAST year, more than 10,000 investors who had invested in Lehman-linked structured products lost their money when the US investment bank collapsed.

Seven months later, after an extensive investigation, the 10 financial institutions (FIs) who peddled these products have been punished. They have been banned from selling this type of product for periods ranging from six months to two years. Still, … more