Also stepping down early is Leonhard Fischer, the head of Dresdner Bank's investment banking and markets division and a director of Allianz, the bank's parent.
Deutsche Bank does investment banking and owns 1% or more of both Merck and Schering-Plough.
Unlike British banks, HSBC and Barclays, Allied Irish did not get a boost from buoyant investment bank earnings, with revenues from asset management, investment banking and wealth management all down.
Banker Uday Kotak bought out Goldman Sach's stake in his bank's investment banking and brokerage arms.
Just yesterday the bank said its investment banking chief Anshu Jain and board member Juergen Fitschen will take on the roles of co-CEOs next year.
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Instead, Douglas Flint, who had been the bank's finance director, took over as chairman, Mr. Geoghegan left the bank, and investment- banking head Stuart Gulliver became CEO.
His bank has an investment banking relationship with Celgene.
Mr Taylor found this hard: he lacked a power base to force through tough decisions even if he had wanted to, and so preferred to tackle big, strategic questions, such as what to do with the wholesale bank and its investment-banking arm.
During a presentation in New York on Tuesday, Morgan Chief Philip Purcell acknowledged that big morale problems were affecting the bank's investment banking and equities divisions--whose cosseted bankers contribute 20% to 25% of profits--and that senior management was spending "an awful lot" of time on the issue.
The hiring of the Morgan Stanley group is "the strongest sign of our determination to continue investing in our U.S. securities platform, " said Thomas Gahan , Deutsche Bank's head of corporate and investment banking in the Americas and the head of its Deutsche Bank Securities division.
Even Bank Vontobel, a private bank with a small investment-banking division, has been feeling the pinch.
In finance, Barrile added, it may be appropriate to offer some London candidates to a New York bank trying to fill investment banking positions, because of similar mobility patterns.
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The bank's commitment to investment banking looked particularly lame after the departure of John (Studz) Studzinski in April 2006.
Other global banks, including Credit Suisse , Deutsche Bank and Rothschild have cut investment banking jobs in the region in recent months amid dwindling deal volumes.
Fifty one year-old Kvalheim, along with co-President Jerry del Missier, and Chief Executive Bob Diamond, is considered one of the main architects of the investment banking division of British bank Barclays.
And if that bank had substantial trading or investment banking activities, it was allowed almost total discretion to determine the riskiness of those activities and to hold as little capital as it liked.
It will acquire the equities and investment banking businesses from the US bank which filed for bankruptcy protection last week.
The result, the report said, was a "strong drive to win", particularly as the bank became increasingly dominated by the investment banking business, which possessed a strong culture of winning.
This was helped by revenue increases in asset management and global transaction banking, while the investment bank saw a 4% decline in revenue, which the bank attributed to reduced client activity in a weaker market environment.
This leading investment and commercial bank, one of the top two or three in the world on some measures which employs 11, 000 in London, is purchasing the not-so-old former Lehman HQ at 25 Bank Street as its new European investment banking HQ.
Morgan, part of the venerable House of Morgan, was traditionally a commercial bank, but has aggressively entered the investment banking business.
The goal is to remove people who aren't "pulling their weight, " said one investment-banking head at a major bank, adding that "banks are overbuilt" in relation to the work available.
They typically like more transparency and control of their accounts and are more technologically savvy, said Dean Athanasia, head of the banking and direct investment division in Bank of America's wealth group.
Last week, the vaunted investment bank had a relatively poor showing, with rival Morgan Stanley surpassing it in second quarter revenue from both investment banking and fixed income trading.
Goldman Sachs, the vaunted investment bank, had a relatively poor showing as rival Morgan Stanley surpassed it in second quarter revenue from both investment banking and fixed income trading.
Morgan Chase's European investment-banking boss, says that the bank does not want to dent profitability by hiring too early.
The French bank agreed to buy the prime-brokerage unit of Bank of America, which is pruning its investment-banking activities.
The takeover, as well as the bank's "aggressive expansion" into investment banking, was singled out by the FSA as a bad call.
The takeover of Postbank also highlights Deutsche Bank's decision to rely less on investment banking revenues in the face of a tougher regulatory environment.
In his new book on FDR's Hundred Days, Adam Cohen recounts how the hearings revealed how National City Bank had caused enormous problems by mixing commercial and investment banking, reaping huge profits as customers were persuaded to make terrible investments.
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