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The value of European banking M&A hits its highest point in a decade as lenders hunt for growth across the continent - A potential ramping-up in European banking M&A has become a hot topic as a lower net interest margin environment means European dealmakers are looking to return to the deal table in order to seek growth.
The first bank to meet its demise in 2024 is smaller than its 2023 counterparts. In 2023 we saw Silicon Valley Bank (“SVB”) and First Republic Bank (“First Republic”) fail. The most recent bank to experience a failure bears a striking resemblance – in name only – to one of these banks. By: Poyner Spruill LLP
As readers might recall, billionaire Elon Musk borrowed $13 billion from Morgan Stanley, Bank of America and five other major banks to help finance the $44 billion acquisition of Twitter, as it was then called. X, the social network formerly known as Twitter, looks like a pretty bad investment right about now. All rights reserved.
On September 17, 2024, the Antitrust Division of the United States Department of Justice (the “DOJ”) announced that it withdrew its 1995 Bank Merger Guidelines and instead, for purposes of evaluating the competitive impact of bank mergers, will rely on its 2023 Merger Guidelines, which apply to all industries.
FairMoney, a digital bank based in Lagos and headquartered in Paris, is in discussions to acquire Umba, a credit-led digital bank providing payroll and financial services to customers in Nigeria and Kenya, in a $20 million all-stock deal, sources tell TechCrunch.
The FDIC proposed revisions last month to its existing policy on how it evaluates merger transactions that require the FDIC's approval under the Bank Merger Act (BMA). By: Venable LLP
The Federal Deposit Insurance Corporation (FDIC) is requesting public comment on its proposal to rescind its 2024 Statement of Policy on Bank Merger Transactions (2024 Policy Statement) and reinstate its prior Statement of Policy on Bank Merger Transactions (Prior Policy Statement). By: Cadwalader, Wickersham & Taft LLP
On September 17, the DOJ announced its withdrawal from the 1995 Bank Merger Guidelines, stating the 2023 Merger Guidelines will be the only authoritative statement across all industries. This decision followed collaboration with the Fed, FDIC and OCC and was informed by public feedback, departmental experience and market developments.
On July 30, 2024, the Board of Directors of the Federal Deposit Insurance Corporation (FDIC) approved a Notice of Proposed Rulemaking to amend the agency’s regulations under the Change in Bank Control Act (the Proposal). By: Latham & Watkins LLP
He distinguished his investment method from traditional private equity or investment banking by making riskier investments in new, unproven businesses with the aim of larger returns should these businesses succeed. By: Wyrick Robbins Yates & Ponton LLP
The FDIC is seeking comment on proposed changes to its regulation governing parent companies of industrial banks and industrial loan companies—Part 354 of the FDIC Rules and Regulations. By: Ballard Spahr LLP
The Office of the Comptroller of the Currency (OCC) released guidance regarding its planned changes to the Bank Merger Act (BMA). The New Rule: Explicitly adds financial stability as a key factor for assessing mergers, reflecting the growing concerns about potential risks from mergers involving large or systemically important banks.
Today, a divided Federal Deposit Insurance Corporation’s (FDIC) Board of Directors issued a proposed Statement of Policy (SOP) on bank merger transactions that would create a combined bank with more than $100 billion in assets. By: Troutman Pepper
On March 21, 2024, the Federal Deposit Insurance Corporation (“FDIC”) approved a Federal Register notice seeking public comment on its proposal to revise its current Statement of Policy on Bank Merger Transactions. By: Seyfarth Shaw LLP
The board of directors of the Federal Deposit Insurance Corporation (“FDIC”) recently proposed a rule change that would reassert its now-dormant authority to review changes in bank control involving bank holding companies.
On September 17, 2024, the Federal Deposit Insurance Corporation (“FDIC”) and the Office of the Comptroller of the Currency (“OCC”) issued final “statements of policy” for transactions subject to the Bank Merger Act (“BMA”). By: Paul Hastings LLP
Washington, DC (January 17, 2024) FOCUS Investment Banking (FOCUS), a national middle market investment banking firm providing merger, acquisition, divestiture, and corporate finance services, announced today that Stillwater Technologies LLC (Stillwater) has been acquired by ReNEW Manufacturing Solutions (ReNEW).
On September 17, the FDIC Board approved its Final Statement of Policy on Bank Merger Transactions (SOP), updating the guidelines for evaluating bank mergers. The FDIC’s final SOP addressed the scope of transactions requiring the FDIC’s approval, the process for evaluating merger applications, and the principles.
On September 17, 2024, the Department of Justice Antitrust Division (DOJ) shut the vault doors on its 1995 Bank Merger Guidelines, leaving the 2023 Merger Guidelines as its sole authoritative statement on the topic of mergers across all industries. By: BakerHostetler
The Situation: On January 29, 2024, the Office of the Comptroller of the Currency ("OCC") requested comment on a proposed rule updating its bank merger rules and incorporating a policy statement (the "Proposal") on agency review of merger applications. By: Jones Day
On January 29, 2024, the OCC issued a proposed policy statement[1] describing the general principles it uses to evaluate applications for approval of transactions under the Bank Merger Act (“BMA”), principally bank mergers, consolidations, and deposit assumptions (“Business Combinations”). By: Morrison & Foerster LLP
On September 17, the OCC approved a final rule amending its procedures for reviewing applications under the Bank Merger Act. The rule will aim to provide clearer guidelines for institutions regarding the OCC’s review process for bank mergers and ensure institutions remain relevant in the current financial landscape.
Binance is banking big on M&A and VC deals by Jacquelyn Melinek originally published on TechCrunch (Editor’s note: This interview has been edited for length and clarity.) I know you just started recently, but what are the profitability metrics that Binance looks at as its north star? And how has performance been?
In the wake of major bank failures in the US, the Department of Justice (DOJ) has signaled that it plans to step up antitrust enforcement of bank mergers. T]he division is modernizing its approach to investigating and reporting on. By: Cooley LLP
On March 21, the FDIC issued a request for comment on its proposed Statement of Policy (SOP) on bank merger transactions, which will aim to update, strengthen, and clarify the FDIC’s approach to bank merger evaluation. The new SOP will replace the FDIC’s current SOP on its responsibilities under the Bank Merger Act (BMA) or.
Deutsche Bank has chosen the London Stock Exchange Groups Trade Discovery compliance solution as it seeks to meet increasingly rigorous regulatory demands. The post Deutsche Bank selects LSEG compliance solution appeared first on The TRADE.
On January 29, the OCC announced a proposed rule for bank merger approvals under the Bank Merger Act (BMA). The OCC proposed changes to 12 CFR 5.33 to reflect its view that a business combination is a significant corporate transaction. By: Orrick, Herrington & Sutcliffe LLP
On March 21, the Federal Deposit Insurance Corporation (FDIC) published for comment a proposal (Proposal) to revise its Statement of Policy on Bank Merger Transactions (SOP). If adopted as proposed, the Proposal would modify the SOP substantially, effectively creating an entirely new policy.
The Bank of England has published the final report on its system-wide exploratory scenario. The SWES was a 'system-wide' exercise, incorporating a wide range of financial firms and business models, focusing not on the resilience of individual participants, but the impact on important U.K. financial markets. By: A&O Shearman
Below is his conversation with Gary Grote, Managing Director at Bridgepoint Investment Banking, which focuses on capital raising and M&A advisory solutions. Gary focuses on deals in the healthcare, leveraged finance, financial services, and real estate industries. He has also worked on deals in the consumer and transportation sectors.
In this environment, MergersCorp Investment Banking stands out as a dedicated partner for businesses navigating the complexities of the global market. The MergersCorp Advantage MergersCorp Investment Banking prides itself on its holistic approach to M&A advisory.
The Slovak FDI regime applies from 1 March 2023. What are the first impressions? The FDI Act dramatically expands the powers of certain Slovak authorities to scrutinise investments from the perspective of national security and public policy.
There are a lot of reasons why investment banking courses can be beneficial to a junior employee. Because as a junior in investment banking, this is something that you want to experience. So below, I will go over some of the key benefits that investment banking courses can give you over the course of your career.
The Proposal clarifies the FDIC’s bank merger approval process but may prove challenging for new large bank consolidations with the FDIC as the primary regulator.
Washington, DC, (October 28, 2024) – FOCUS Investment Banking, a leading middle-market investment bank, is proud to announce that Daniel Murphy has joined the firm as a Senior Advisor in its Automotive group. We are thrilled to have Dan Murphy on board as a Senior Advisor,” said Rick Thomas, CEO of FOCUS Investment Banking.
” The 2024 IT Nation Torch Award Honorees are: Partner Excellence Award: Abraham Garver , Managing Director at FOCUS Investment Banking, was recognized for his exceptional contributions to the IT Nation and ConnectWise communities, consistently driving value and supporting partners’ growth.
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