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Former Wall Street exec named head of Turkey central bank
Hafize Gaye Erkan, a former co-CEO First Republic Bank and managing director at Goldman Sachs, will be the first woman to head the central bank. Turkey's newly re-elected President Recep Tayyip Erdogan, who is starting a third term in office, unveiled a new cabinet on Saturday appointing Mehmet Simsek, a former Merrill Lynch economist, as finance minister.
Akshay Tanna exits TPG to join KKR as its PE business head
Tanna (40) will be handling the entire spectrum of buyouts, control transactions, growth equity and even impact investments across sectors at the American private equity major. He will be reporting to Gaurav Trehan, KKR's India country head. The two firms were informed of the development on Monday. An official announcement is expected shortly.
EXPLAINER-Why First Republic Bank failed and what JPMorgan's deal means
First Republic's business model was to lure high net-worth customers with preferential rates on mortgages and loans. Its customers have included Instacart founder Apoorva Mehta, investor Chamath Palihapitiya and real estate developer Stephen M. Ross, according to bank promotional materials. First Republic also catered to other members of the community, according to bank materials which note that schools and non-profits account for 22% of its business loans.
Anshu Jain, former co-CEO of Deutsche Bank, passes away after five-year cancer battle
Jain, who was Global Indian of the Year in the ET Awards for Corporate Excellence in 2012, was born in Jaipur in 1963 and studied at the Shri Ram College of Commerce, New Delhi, and the University of Massachusetts.
A Rs 5-lakh-crore problem: How Recordent is taking a stab at helping MSMEs deal with unpaid dues
This technology platform, launched during the first wave of Covid, focuses on credit management services to small and medium companies.
AMC drama is exposing risks in $11 trillion world of indexing
A similar phenomenon took place in January, when GameStop at one point surged more than 1,600%. Shares of the video-game retailer also rallied alongside AMC in the past week. The two companies are among a handful of shares dubbed meme stocks that are enjoying rapid, social-media fueled gains.
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Fintso brings on board ex-Wall Street fund manager Soumyo Sarkar to advisory council
The Wall Street professional has experience of over 35 years working with leading firms like Credit Suisse, Deutsche Bank, Merrill Lynch, Salomon Brothers and Lehman Brothers.
Mutual fund industry veteran Sanjiv Shah joins Kuvera as strategic advisor
Alokik Advani, Managing Partner, Fidelity International Strategic Ventures said, “Shah has played an instrumental role in bringing innovative products to market in the Indian mutual fund industry and his experience, expertise, and knowledge of the asset management landscape in India will be invaluable as Kuvera embarks on its next phase of growth."
NSE-BSE bulk deals: Max Ventures sells Max Financial Services shares, MIT ups stake in NIIT
Promoter Max Ventures Investment Holdings sold 61,00,000 shares in Max Financial Services at Rs 535.18 per share. At end June, it held 28.15 per cent or 7,58,83,275 shares in the company.
Softbank-Bharti green energy JV taps Brookfield for up to $600 million funds
The need for funds is immediate and so they are open to various structures, said a global clean tech investor. However, most industry participants believe parent Softbank may eventually sell a larger chunk, even majority to bring on board large institutional investors to deal with its own liquidity challenges.
YES Bank ropes in Anshu Jain, former Chief of Deutsche Bank, to raise funds
Anshu Jain is currently the president of Cantor Fitzgerald, an investment bank and brokerage firm.
Snapdeal in talks for $100m at valuation of $800m-1.2bn
The new round is expected to benchmark a new valuation for Snapdeal besides testing if its founders can win investor trust for the business after seeing a significant value erosion, said the first source mentioned earlier.
SBI plans to sell 14% stake in card unit’s IPO, raise Rs 8,000 crore
It is the second largest credit card company in India with a card base of 9.5 million after HDFC Bank, with over 13 million.
JPMorgan warns US money-market stress to get much worse
JPMorgan says it’s not convinced the Fed has resolved the issues in the funding markets.
FM’s initiative fails to perk up FPIs worried about economic health
Data showed FPIs are net buyers worth Rs 9,500 crore since September 20.
JPMorgan says it’s finally time to buy stocks despite trade woes
The Trump administration slapped tariffs on roughly $110 billion in Chinese imports on Sunday.
BlackRock is back to lead $53 million round in GoWork
Firm returns to Indian startupland after 5 years; CLSA Capital too part of debt round
Nikkei hits 3-month low as intensifying trade war hurts sentiment
Nikkei share average ended the day down 0.59 per cent at 21,067.23 after falling to as low as 20,751.45, the lowest since mid-February.
As India goes to poll, here's where markets stand
“The prospect of a second term for Modi is a very good thing for the market."
Opportunities between India-US to take relationship forward exponentially: Harsh V Shringla
Shringla said the two nations have reached this stage in bilateral relations very fast.
Here’s the Uber investor letter that forced Travis Kalanick out
The document was among a series of files that were unsealed Monday as part of a lawsuit over autonomous-vehicle trade secrets brought by Alphabet Inc.’s Waymo.
Bharti Infratel looks to wrap up merger with Indus Towers by May
Deal to drive profitability and reduce capex for combined entity, say analysts.
Bharti Infratel-Indus Towers merger likely to complete in the first quarter of next fiscal
The “deal is expected to be completed latest by April-May-19,” Bank of America Merrill Lynch said in a report.
World economy likely to feel delayed trade war pain in 2019
The IMF forecasts trade volumes will slow to 4% in 2019 from 4.2% this year and 5.2% in 2017. They warn that trade barriers have become more pronounced.
Asia's central banks have almost no reasons to hike rates in 2019
A depressed growth outlook will weigh on inflation, diminishing the argument for rate hikes.
Double blow to rupee quells revival hope for worst Asia currency
Bank of America Merrill Lynch is also predicting short-term weakness for the rupee.
Little known to many investors, cryptocurrency reviews are for sale
Self-proclaimed social media personalities charge thousands of dollars for video reviews.
Funds with $14 trillion have more room for EM bonds
Morgan Stanley and JP Morgan Asset Management say conditions are right for the floodgates to open.
DLF, Blackstone restructure seven residential projects' JV shareholding
The country's largest realty firm had in July last year announced restructuring of its joint venture looking at the market scenario and to concentrate on select projects.
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