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Investment banks may see big revenue drop

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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.

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