US banks shouldn't assume good fortune is bulletproof
AMERICA, one; Europe, nil.
In Asia, at least, US financial institutions are climbing up the investment banking league tables while their euro-area counterparts sink. But champagne corks shouldn't be popping on Wall Street yet. How long their current reign lasts will depend to a large degree on how long the fixed income, currencies and commodities business remains robust.
Deutsche Bank AG, weighed down by billions of dollars in fines for money laundering and manipulating interest rates, has slipped from pole position in Asia while JPMorgan Chase & Co, which expanded in FICC and equities, surged from seventh to first place, data from industry researcher Coalition show.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Porsche posts Q1 profit drop on ramp-up costs
IBM plots US$730 million expansion of Canadian semiconductor site
Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early
Yeo Guat Kwang, John Chen retiring from corporate boards
US: Wall St opens higher
Air China orders homegrown C919s in challenge to jet duopoly