March 9, 2023
BofA Tells Rainmakers to Work on Tiny Deals During Drought
Bank of America Corp., one of the few major Wall Street banks to avoid mass job cuts in recent months, has begun moving investment bankers into busier areas as the industry deals with a slowdown in dealmaking and capital markets.
For years, the company has relied on attrition as a way to manage headcount, Chief Executive Officer Brian Moynihan said in an interview with Bloomberg Television. But after resignations fell to a percentage in the “mid single digits” — down from about 12% pre-pandemic — the bank is now looking to move staffers into divisions that are more active.
Ukrainian Firm’s Exit Marks Rude Awakening for Warsaw Bourse
Eastern Europe’s leading bourse is losing another member as one of the world’s biggest producers of sunflower oil delists from the Warsaw Stock Exchange, citing complaints including poor liquidity and thin analyst coverage.
Namsen Ltd — the investment vehicle of Ukrainian businessman Andrii Verevskyi — announced an offer this week to buy out all other shareholders in Kernel Holding SA, the company he founded whose listing in 2007 came amid a push to encourage Ukrainian firms to the Polish exchange.
BOJ Governor Kuroda’s Last Meeting Has Markets Focused on a Final Surprise
The Bank of Japan will conclude Governor Haruhiko Kuroda’s final meeting Friday, with global investors remaining on high alert for a surprise parting shot from Kuroda that may jolt financial markets around the world.
Some 46 of 49 economists forecast no policy change at the end of the two-day gathering, according to a Bloomberg survey. Still, Goldman Sachs and BNP Paribas are among the minority flagging the risk of Kuroda adjusting or scrapping the central bank’s yield curve control program as he draws the curtain on his 10-year stint helming the BOJ.
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