Evercore raises junior salaries in London to keep pace with rivals

Boutique investment bank Evercore has bumped salaries for London juniors for a second time, keeping pace with larger rivals after a surge in pay over the past year. The US-headquartered bank raised entry-level salaries from £63,000 to £70,000 when it unveiled its bonuses last week, according to people with knowledge of the matter. Second year … Read more

Why I came out after 10 years on Citi’s trading floor: ‘I just wanted to be myself’

Paul Brennan moved from Ireland to join Citigroup’s London trading floor in 2007 after graduating in Economics from Trinity College, Dublin. It took 10 years before he felt comfortable enough to be open about his sexuality to his colleagues. “It was towards my late 20s when I realised I was gay, and at that stage … Read more

JPMorgan Earnings: Stock Falls After Lender Halts Buybacks, Posts Profits Miss

Text size Investors are focusing on the steps JPMorgan is taking to prepare for a recession, rather than a double-digit increase in net interest income. David Paul Morris/Bloomberg Bank earnings season got off to a rocky start Thursday after JPMorgan Chase ’s second-quarter results fell short of what Wall Street expected. Making matters worse, the … Read more

U.S. Stocks Poised for Lower Open on Monday

More than one dozen S&P 500 companies report earnings this week. Spencer Platt/Getty Images Text size U.S. stocks are poised for a lower open on Monday. On Sunday night, Dow Jones Industrial Average futures lost 31 points, or 0.1%, while S&P 500 futures lost 0.2%, and Nasdaq Composite futures fell 0.3%. Crude oil futures (West … Read more

Citigroup Stock Is the Cheapest of the Big Banks. It’s Ready to Take Off.

Text size Even Warren Buffett’s Berkshire Hathaway has been buying Citi stock, a vote of confidence if there ever was one. Mario Tama/Getty Images Bank stocks have gotten hit as concerns about the U.S. economy have grown. They’re starting to look like bargains, and none more so than Citigroup . The SPDR S&P Bank exchange-traded … Read more

Warren Buffett Spends Big as Stock Market Sells Off

The stock market’s selloff has been bad news for most investors. The Omaha-based company bought 901,768 shares of Occidental Petroleum Corp. OXY 5.68% last week, according to a regulatory filing. The move makes Occidental, in which Berkshire began buying shares in late February, one of its 10 biggest holdings. In the past few months, Berkshire … Read more

Rates Are Rising and Stocks Are Taking a Beating. It Won’t End Soon.

Text size The market reacted violently to the Federal Open Market Committee, which hiked the federal-funds rate target by half a percentage point for only the second time this century. Spencer Platt/Getty Images Uncertainty on several fronts and a fast-changing world—economically, geopolitically, and otherwise—yields known knowns, known unknowns, and unknown unknowns for investors, to cite … Read more

Bumper bonuses for dealmakers mean women fall further behind on pay

A bumper bonus round for investment banks has exposed the stark lack of women in senior, highly paid roles in the sector. Women have slipped further behind their male colleagues at some of the top investment banks in the City when it comes to bonuses this year, after a surge in dealmaking in 2021 prompted Wall … Read more