Page 2492 

LATEST

Investment Banks Cool, Hedge Funds Not

Well, it wasn't all that long ago that most commentators were saying that the good times were most certainly over for the investment banking industry. But good third-quarterly profit figures from Bear Stearns, Goldman Sachs and Lehman Brothers have prompted a rethink.

Citigroup Europe Powers Ahead

With Citigroup said to now earn more than 50% of its revenues outside New York, more attention than ever before is being paid to the company's European operations. The Sunday Times ran a (rather flattering) piece at the weekend, extolling the virtues of Sir Win Bischoff, chairman of Citigroup Europe, and the success of the company's European investment banking operations.

Bear, Dresdner, JP Morgan, Morgan Stanley, UBS

Bear Stearns has posted a 16% increase in third-quarter profits, with net income coming in at $438m. The firm is now the third Wall Street securities house to have posted its third-quarter numbers, and, like Goldman Sachs and Morgan Stanley, Bear's profits outperformed most analyst expectations.

Here Is The City News Shorts

Barclays Bank CEO John Varley said at an investor conference in New York earlier this week that his bank's wealth management operations should be able to generate £500m in profits before too long. The unit posted pre-tax profits of £172m in 2005.

HOT LIST

FEATURED