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Investment banks may see big revenue drop


Global investment banks may see revenue drop 19% in the third quarter, lowering earnings per shares across the industry, as a surge in volatility caused by turmoil in China recedes, according to analysts at JPMorgan.

People News: Goldman Sachs, HSBC, UBS.

HSBC HQ London 3

Dennis Lafferty, one of Goldman Sachs’s top distressed-debt traders, is in talks to join HSBC to run a new loans and special situations unit in New York, according to two people with knowledge of the matter.

People News: Deutsche Bank, UBS

Deutsche Bank - Foyer Bridge

Zar Amrolia, who helped build up Deutsche Bank’s fixed-income and currencies business, is leaving the bank after ten years to help run a British electronic market-making business.

People News: C Suisse

Hedge Fund

Mining analyst Justin Froneman said he left Credit Suisse’s equity research unit in South Africa just over a year after joining the financial-services group.