Allianz has spent a year trying to staunch losses at Dresdner from corporate and investment banking.
Yesterday, the company said it was shaking up its global corporate and investment banking division.
Revenue from corporate and investment banking increased to 4.9 billion euros from 4.7 billion euros in the same quarter a year ago.
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In the last year, HSBC has added nearly 2, 000 people to its 16, 000 person corporate and investment banking staff (another 1, 455 have left).
Citi still faces mounting credit costs and sharply reduced profits in some of its key businesses, including corporate and investment banking and credit cards.
Even in the stricken corporate and investment banking area, revenue rose by 7% in the second quarter, after a 1% decline in the first quarter.
Citigroup Corporate and Investment Banking, Goldman Sachs Credit Partners and J.
"To be relevant in Asia now is not just about getting China right, " said Farhan Faruqui, head of corporate and investment banking for Citi in Asia.
"Clearly, HSBC is in investment phase in its corporate and investment banking business, " says Simon Price, a London-based analyst at JPMorgan Chase (nyse: JPM - news - people ).
Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services and wealth management.
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The hiring of the Morgan Stanley group is "the strongest sign of our determination to continue investing in our U.S. securities platform, " said Thomas Gahan , Deutsche Bank's head of corporate and investment banking in the Americas and the head of its Deutsche Bank Securities division.
It has over 30% of California's deposit accounts, leading market positions in corporate lending and investment banking, and a return on equity of 17%.
's corporate and investment-banking practice in Asia.
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Citigroup's second-quarter profit and revenue rose, compared with a year ago, boosted by the performance of its investment and corporate-banking business.
The appointment of Jenkins marks a shift away from the trading and investment banking culture Diamond represented back toward the consumer and corporate banking business that is perceived to be steadier and less risky.
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The government claimed that analysts were propping up their earnings forecasts to satisfy their corporate investment banking clients and to attract new ones.
If Brazil develops as expected, the derivatives, mortgage-securitisation and corporate-bond markets may become bigger, making investment banking a more balance-sheet-intensive affair.
In theory, the executive committee's task was to run all the group's investment-banking businesses--equities and corporate finance in London, which are Kleinwort's specialities, and bond and foreign-exchange trading, most of which is done by Dresdner in Frankfurt.
Barclays Capital is the investment banking division of Barclays that provides large corporate, institutional and government clients with solutions to their financing and risk management needs.
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During his career at the firm, he also served in various other capacities including Global Co-Head of the Investment Banking Division (1999 to 2002), Head of the Corporate Finance Department (1994 to 1999) and Head of Asia-Pacific Investment Banking (1990 to 1994).
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He notes that India has a stronger tradition of private enterprise, more developed managerial education, better corporate governance, a freer flow of information, a more vigilant investment community, and stronger banking and legal institutions.
While investment banking income at HSBC fell, this was hardly felt as personal and corporate loans stabilized and the write-downs were much less severe this time around.
In response, investment banks such as Goldman Sachs and Morgan Stanley are trying to expand into corporate lending, private banking and retail stockbroking.
Short-termism has resulted directly or indirectly in corporate earnings games, the deferral of investments needed for long-term competitiveness and the transformation of investment and commercial banking from a capital-facilitating agency service business into a principal proprietary trading business.
That conflict--advising individual investors on share purchases while trying to win investment banking business from corporate clients--led to unseemly initial public offering allocations, overly rosy research and perhaps, in the case of Enron, collusion.
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