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Citi has lost Hargunani, a notable figure in its ranks, while UBS is undergoing significant changes within its leveraged finance team. These shifts reflect ongoing dynamics in the financial sector as firms adapt to evolving market conditions.
Asia-Pacific markets declined as Wall Street's postelection rally lost momentum following Donald Trump's election win. The S&P 500 fell 0.29%, the Nasdaq Composite dropped 0.09%, and the Dow Jones Industrial Average decreased by 0.86%. Small-cap stocks, particularly the Russell 2000, experienced a significant 1.4% decline, reversing gains from the previous day, amid concerns of potential profit-taking and market positioning risks. The dollar index rose 0.4%, reaching its highest level against a basket of currencies since July 2024.
US companies are seizing the opportunity in the debt market as risk premiums decline, with major banks like Citi, Goldman Sachs, HSBC, and BNP Paribas among 13 firms issuing investment-grade bonds. This surge marks the busiest day for high-grade deals since September 4, which saw 19 transactions, according to data from Bloomberg.
Wall Street strategists are maintaining a neutral stance on US Treasuries following Donald Trump’s presidential victory and the Federal Reserve's anticipated interest rate cuts. Firms like Citi, JPMorgan, and Morgan Stanley expect Trump's economic policies, including tariffs and tax cuts, to potentially drive inflation by 2025.
UBS and Kingsview Partners have welcomed new advisors from RBC Wealth Management and Edward Jones, respectively. Anibal Drelichman, with over 30 years in wealth management, joins UBS in the Philadelphia D.C. Market, while Greg LaFreniere, managing $200 million AUM, becomes a wealth manager and partner at Kingsview in Iron Mountain, Michigan.
UBS has hired Anibal Drelichman as a Financial Advisor in Washington, D.C., enhancing its wealth management team. With nearly 30 years of experience, including roles at RBC Wealth Management and a background in law, he will provide comprehensive wealth planning and investment management services. Drelichman will work alongside Client Service Associate Fatema Sarker, reporting to Market Director Brendan Graham and Market Executive Julie Fox.
UBS has launched a blockchain-based solution for cross-border payments, addressing delays and challenges in international transactions. This technology enhances transaction speed, reduces costs, and increases transparency, benefiting both businesses and the underbanked. With instant payments clearing in seconds, users can mitigate currency fluctuation risks, enabling global commerce for small businesses without traditional banking barriers.
UBS has launched a blockchain-based payment solution for corporates and institutional clients, enabling instant cross-border fund transfers and enhancing transaction transparency. The system, tested with clients like Autoneum, offers round-the-clock payments and programmable conditions, improving liquidity management and reducing credit charges. UBS's commitment to blockchain is further demonstrated through its participation in initiatives exploring wholesale central bank digital currencies and tokenized deposits, positioning the bank at the forefront of financial innovation.
The Global Structured Finance Market is projected to grow from $10 billion in 2024 to $18 billion by 2032, with a CAGR of 6%. Key players include Citi, JPMorgan Chase, and Goldman Sachs, focusing on complex financial instruments like asset-backed and mortgage-backed securities. The market is segmented by type, application, and geography, with North America leading and Europe as the fastest-growing region.
European stocks are set for a lower open as global markets react to early U.S. election results favoring Donald Trump, with Dow futures rising over 480 points and Bitcoin hitting a record $75,000. Treasury yields also climbed, reflecting expectations of potential Republican policies that could impact inflation and tariffs. Analysts anticipate volatility in the markets, with differing strategies depending on the election outcome.
Citizens, Inc.
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
citi loses hargunani as ubs restructures leveraged finance team
01:04 15.11.2024
asia pacific markets decline as wall street rally loses momentum
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00:40 13.11.2024
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20:29 12.11.2024
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advisors with decades of experience transition to UBS and Kingsview Partners
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12:36 11.11.2024
ubs hires financial advisor anibal drelichman to enhance wealth management team
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17:06 08.11.2024
ubs launches blockchain solution to enhance cross-border payment efficiency
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19:52 07.11.2024
ubs launches blockchain solution to enhance cross-border payment efficiency
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15:07 07.11.2024
global structured finance market poised for significant growth through 2032
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15:24 06.11.2024
european stocks set for lower open as us election results unfold
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06:42 06.11.2024
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