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New York City
Managing Editor, Finance — Bloomberg News

Managing editor for finance @BloombergNews. Tweets are not endorsements and opinions are my own.

Goldman Sachs Hires Former Barclays M&A Head Paul Parker

bloomberg.com — Goldman Sachs Group Inc., the top-ranked takeover adviser so far this year, hired Paul Parker to be a co-chairman of its mergers and acquisitions group less than three months after he left Barclays Plc. (BARC) Parker, 51, had served as global head of finance at London-based Barclays before being named to run the worldwide mergers and acquisitions in October.

Washington Post Business Page, Business News

washpost.bloomberg.com — June 11 (Bloomberg) -- U.S. House Majority Leader Eric Cantor's loss in Virginia's Republican primary last night raises concerns about the future of political compromise, Goldman Sachs Group Inc. Chief Executive Officer Lloyd Blankfein said.

Blankfein Calls Eric Cantor’s Primary Loss ‘Stunning’

bloomberg.com — U.S. House Majority Leader Eric Cantor's loss in Virginia's Republican primary last night raises concerns about the future of political compromise, Goldman Sachs Group Inc. (GS) Chief Executive Officer Lloyd Blankfein said. "It was stunning," Blankfein said in a television interview with CNBC today.

Wall Street’s Bond Trading, Allocation Under Finra Review

bloomberg.com — The Financial Industry Regulatory Authority is examining whether Wall Street firms overcharge investors on some bond trades and whether they unfairly allocate new corporate debt issues to reward certain clients. Richard Ketchum, the chairman and chief executive officer of Wall Street's self-regulator, said Finra is looking at trading data to see if brokers sometimes earn unusually large profits on bond trades, according to a report in the Wall Street Journal.

Bank Profits Seen Buffeted by Rates Rising Without Growth

bloomberg.com — Rising bond yields are typically indicators of stronger economic growth and higher profits for banks. That might not be the case this time, as a 30-year bull market in U.S. government debt shows signs of coming to an end. Higher long-term interest rates can discourage mortgage lending and cause losses in the securities portfolios of banks including JPMorgan Chase & Co.

CIT Chief Thain Sees ‘Obvious’ Logic of Selling to Bank

bloomberg.com — CIT Group Inc. (CIT) Chief Executive Officer John Thain, whose commercial lending firm has drawn takeover speculation, said the logic of selling to a larger bank is "obvious." "The big banks are awash in deposits and they can't generate attractive assets," Thain said today in a Bloomberg Television interview with Erik Schatzker and Sara Eisen.

BlackRock ETFs Gain as Fixed-Income Liquidity Slides, Fink Says

bloomberg.com — BlackRock Inc. (BLK), the world's largest asset manager, stands to benefit as banks shrink their market-making role in over-the-counter fixed-income trading, Chief Executive Officer Larry Fink said. Higher bid-ask spreads raise the cost of trading and thus increase the appeal of BlackRock's exchange-traded funds, said Fink, speaking with Deutsche Bank AG (DBK)'s co-CEO Anshu Jain on stage at a conference in New York hosted by the German company.

UBS Said to Increase Investment Bankers’ Salaries by Average 9%

bloomberg.com — UBS AG (UBSN), Switzerland 's biggest bank, is boosting base salaries for investment bankers to retain key employees and help align pay with competitors, said three people with knowledge of the plan. UBS is informing staff of the move this week, said the people, who asked not to be identified because the plan hasn't been made public.

Goldman Sachs Research Disputes ‘Too Big to Fail' Bank Subsidy

finance.yahoo.com — Bond investors don't perceive the six biggest U.S. banks as "too big to fail," according to a report from one of those lenders, Goldman Sachs Group Inc. The half-dozen largest U.S. banks by assets have had an average funding-cost advantage over smaller competitors of 0.31 percentage point since 1999, according to the report from the New York-based firm.

Morgan Stanley Fixed-Income Veteran deRegt Leaves for New Firm

bloomberg.com — Morgan Stanley (MS) said Michael Heaney and Robert Rooney will become global co-heads of fixed-income sales and trading as Ken deRegt leaves to join an outside firm. "I am confident that they will continue to deliver on the rebuilding of our fixed-income franchise," wrote Colm Kelleher, who oversees investment banking and trading for New York-based Morgan Stanley, in a staff memo today.
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Dec 17, 2014

RT @ianbremmer: Americans going to Cuba, Russians going to Crimea. I think we’re getting the better deal.

Dec 17, 2014

Breaking @business Jefferies' banker Sage Kelly said to resign to focus on family $LUK @SRuhle

Dec 17, 2014

RT @BloombergTV: COMING UP: Bill Ackman, CEO of Pershing Square, live on Bloomberg Television at 10:30 a.m. bloom.bg/1qZMuwY

Dec 17, 2014

RT @crayton_h: This guy figured out a way to watch brain cells firing, which could lead to new treatments. The video is bananas. bloomberg.com/news/2014-12-1…

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