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.
European banks are facing intensified competition as a second Trump presidency signals potential financial deregulation in the U.S. While U.S. banks have thrived, European lenders struggle with low profitability and strict regulations. The anticipated easing of U.S. banking rules could further widen the earnings gap, prompting European banks to lobby for regulatory relief.
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.
PGIM has appointed Jacques Chappuis from Morgan Stanley as its new CEO, succeeding David Hunt, who has led the firm for 13 years. Chappuis will officially take over on May 1, 2025, and will report to Andrew Sullivan, executive vice president of Prudential’s international businesses and global investment management.
Swiss Finance Minister Karin Keller-Sutter and UK counterpart Rachel Reeves discussed the implications of Donald Trump's election victory on banking regulation, emphasizing the need for a balance between competitiveness and stability. Following Trump's win, bank shares surged, while Keller-Sutter proposed stricter capital requirements for major banks, including a potential $25 billion increase for UBS, which is resisting the move due to high associated costs.
UBS Group AG, a leading Swiss investment bank, offers a range of financial services and has seen strong stock performance following its acquisition of Credit Suisse. Despite recent downgrades from analysts due to new capital proposals, UBS remains attractive for long-term investors, particularly in wealth management and dividend income. The company is also expanding its wealth management business in emerging markets, presenting further growth opportunities.
The re-election of Donald Trump has led to a historic surge in US bank stock prices, with Morgan Stanley, Goldman Sachs, and JP Morgan seeing significant gains. The prospect of tax cuts and reduced regulations, alongside Republican control of Congress, has fueled optimism on Wall Street, resulting in the S&P 500's largest post-election jump in a century. UBS and other Swiss banks also benefited, as the potential for relaxed regulations in the US may influence capital adequacy rules in Switzerland.
Wall Street strategists are increasingly optimistic that a resolution in the US presidential election will trigger a stock market rally, building on the S&P 500's 21% gain this year. Analysts from Morgan Stanley and JPMorgan Chase anticipate a rise once a winner is declared. Additionally, Jefferies LLC notes that pre-election equity weakness has historically preceded strong performance in the following month, suggesting last week's decline could be a positive indicator.
ACME Solar Holdings raised Rs 1,300.5 crore from anchor investors ahead of its Rs 2,900-crore IPO, set to open on November 6 and close on November 8, with a price band of Rs 275-289 per share. The offering includes a fresh issue of Rs 2,395 crore and an offer-for-sale of Rs 505 crore by ACME Cleantech Solutions. Notable investors include Abu Dhabi Investment Authority, Goldman Sachs, and Morgan Stanley, among others.
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