Financial Updates – Page 70 – Financial Updates

Citigroup Sees 25% Surge in Q4 Investment Banking Fees Amid Soft Market Revenues

Executive Summary Citigroup CFO Mark Mason expects investment banking fees in Q4 2025 to increase by approximately 25% year-over-year, driven by strong M&A activity; market revenues are projected to decline modestly compared to the same period. Meanwhile, the bank is underway with major transformation efforts, with around two-thirds of its cost-cutting and operational streamlining initiatives …

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SEC Moves to End Key Sections of Global Research Analyst Settlement via FINRA Rule 2241

Americas Policy & Regulation Banking

Executive Summary On December 5, 2025, the Securities and Exchange Commission (SEC) agreed to terminate—or significantly modify—the remaining undertakings under the Global Research Analyst Settlement, long ago entered into in the early 2000s, which imposed strict firewalls and prescriptive rules for research‐banking separation. [2][3] The change recognizes that many of those obligations have been superseded …

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Hong Kong Tightens IPO Rules: Regulators Demand Higher Standards Amid Surge in Listings

Asia Policy & Regulation Banking

Executive Summary Hong Kong’s Securities and Futures Commission (SFC) and the Hong Kong Exchanges and Clearing (HKEX) have jointly urged investment banks to improve the quality of IPO applications, citing concerns over rushed or substandard submissions amid a surge in listings. More than 300 companies—most from mainland China—have filed to list so far in 2025, …

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Regulators Roll Back Bank Capital & Leverage Rules—What That Means for Lending Risk

Americas Policy & Regulation Banking

Executive Summary Regulators have rescinded longstanding limits on “leveraged lending”—bank loans made to highly indebted companies—by withdrawing the interagency guidance from 2013 on such transactions. Additionally, bank capital rules are being loosened: the enhanced supplementary leverage ratio (eSLR) will be relaxed for large banks and their depository subsidiaries beginning April 1, 2026, and the community …

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How Foss Hill Financial Builds an Inclusive Investment Banking Pipeline at Wesleyan

Americas Context/FYI Banking

Executive Summary Foss Hill Financial is a student-led investment banking club at Wesleyan University founded in 2023 to guide students through the early and networking-heavy recruitment process for finance roles. It operates through a mentorship cohort structure, yields growing internship placement results, and is increasingly conscious of gender equity issues within its cohorts. Strategic challenges …

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What Scott Galloway Learned From Hating His Early Investment Banking Role

Americas Context/FYI Banking

Executive Summary Scott Galloway’s first job out of college was in investment banking at Morgan Stanley, which he says he hated and was bad at—but he also credits the experience with imparting crucial life lessons in detail, pressure, self-awareness, and the limits of ‘passion’ over ‘talent’ [1][4]. Through subsequent careers and his writings, he emphasizes …

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Why Banks Are Losing Talent to Tech: AI, Short-Term Pressure & Career Shifts

Americas Firms Banking

Executive Summary An eFinancialCareers article titled “I left my investment banking job for Amazon. Bankers have no idea what’s coming” describes the author’s switch from a major U.S. investment bank to a senior role at Amazon, citing better alignment with long-term impact and operational scale rather than deal cycles. Additional reporting shows banks are confronting …

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JPMorgan Intensifies Mid-Cap Investment Banking Push With Sector Talent Surge

Global Context/FYI Banking

Executive Summary JPMorgan Chase is accelerating its investment in its mid-cap investment banking division, making a series of senior hires across different specialties—consumer, energy, business services, natural resources, and capital goods—underscoring a strategic pivot to capture fee income and deal flow from mid-market firms. Key hires include two new managing directors for its North America …

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Investment Banking Outlook: Digital, ESG & Emerging Markets Power Long-Term Growth

Global Forecast Banking

Executive Summary The global investment banking market was valued at approximately USD 103.23 billion in 2024 and is forecast to grow at a CAGR of about 7.55% to USD 183.28 billion by 2032, driven by digitalization, ESG advisory demand, and rising deal activity in emerging markets, particularly Asia Pacific [1]. Major banks—including Goldman Sachs, JPMorgan …

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Goldman Sachs Q3 2025 Earnings Surge: Investment Banking & Asset Management Fuel Growth

Americas Firms Banking

Executive Summary Goldman Sachs delivered a strong third quarter in 2025, with net revenues up 20% year-over-year to $15.18 billion and profits rising 37% to $4.10 billion, driven chiefly by a 42% surge in investment banking fees. Despite this, the stock fell 2–3% after the report, likely due to elevated expenses and concerns about valuation. …

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