Archive April 2019
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Week InAdvance: April 29, 2019
Week InReview: April 26, 2019
Northern Trust, which oversees roughly $10 trillion, is looking at restricting the ability of some employees to send email outside the company as it beefs up its cybersecurity, according to a top executive at the company who requested anonymity because the policy hasn't yet been formalized.
The Chicago-based firm is exploring limiting external email to only employees who work with clients and other groups outside the company to avoid potential privacy breaches.
â€” Business Insider
Week InAdvance: April 22, 2019
Week InReview: April 19, 2019
Everyone has a preferred drink that goes with their reading material: a coffee with the morning paper, a glass of red with a novel at night.
But as anticipation ran high for the release of the Mueller Report on Thursday, bartenders and booze experts from across the U.S. prepared their own drinks to reflect whatever they expected the contents of the report to be.
Here, they've shared a few recommendations. Spoiler alert: There's a lot of Russian vodka.
— What to Drink While Reading the Mueller Report
Week InAdvance: April 15, 2019
Week InReview: March 12, 2019
"UBS Group AG fired a senior investment banker because he allegedly failed to apprise his managers of details of a leveraged-buyout loan, highlighting the pressure Wall Street firms are under to keep a lid on risk in the lucrative business.
"The Swiss bank in December dismissed James Boland, who ran its leveraged-finance group in the Americas, and a lieutenant. Their alleged offense: not informing superiors and the bank's compliance officials that they had reclassified a bond the firm was underwriting as a loan, according to people familiar with the matter...
"UBS had planned to finance the deal with a bond, the people said. But after officials at the Swiss bank realized they couldnâ€™t provide enough disclosure for such a deal to pass legal muster, they switched it to a loan, which carries less-stringent disclosure requirements. Unlike bonds, however, loans are subject to the guidelines regulators put in place as part of broader efforts to limit excessive risk taking in the wake of the financial crisis.
"There is no sign that the loan ran afoul of government guidelines. Even though the loan was successfully syndicated to investors, UBS temporarily held on to a piece of it, and that is what caused the guidelines to come into play, one of the people said."
—The Wall Street Journal
Week InAdvance: April 8, 2019
Week InReview: April 5, 2019
"Investment bankers across Wall Street are tripping over themselves, and sometimes each other, to win business advising smaller companies on deals — assignments they would have scoffed at a few years ago. They are hiring bankers in cities like Dallas and Atlanta and cozying up to a different set of corporate executives....
"Goldman dispatched four partners to regional offices in Dallas, Seattle, Atlanta and Toronto and assigned a dedicated banker to hundreds of what it calls 'lonely clients,' which get little attention from New York bankers."
Big banks reach for small deals as merger boom slows