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Morgan Stanley is in talks to take over Citigroup's Smith Barney brokerage division, according to a person familiar with the situation.
More than a year into the financial crisis, there is still a wide disconnect between risk managers and other bank executives, according to a KPMG survey.
As first reported by IDD, RBC Capital Markets tapped John Sorice as a managing director and senior investment banker in its US financial sponsors group. Sorice previously spent 22 years at JPMorgan, most recently as a managing director on the financial sponsors team.
The year just passed has been one of the most remarkable on record for the financial-services industry. Less clear is how these dramatic shifts on Wall Street and in Corporate America will impact businesses and investors this year. With that in mind, the editors of IDD and other SourceMedia publications offer the following prognostications.
The media deal landscape generated an anemic $2 billion last year, or 108 transactions, according to new report from New York media investment bank DeSilva+Phillips.
Tribune Co. filed for bankruptcy protection in a Delaware court last Monday. The company, which was purchased last December by real estate investor Sam Zell, has $7.6 billion worth of assets and its debts total $12.9 billion, according to court filings.
Morgan Stanley announced that its global head of M&A, Gavin MacDonald, passed away.
While hedge funds are limping from losses related to the credit market mess and many have faced redemptions from investors, shareholder activism will likely increase in the coming years.
As Citigroup steadies its sea legs with the government's $20 billion capital infusion, the future of the financial institution's private equity business is unclear.
Newspapers in the US have been reduced to pinching pennies, as the print industry, much like any other segment of the nation's economy, faces a downward spiral into an abyss of red ink. Not everyone makes it, as is evident in the recent closure of the New York Sun.
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