JWTT, created by former Wedbush Securities bankers, says it will use its connections to court business from other investment banks that were recently sold.
Mnuchin hopes to strike a deal soon to recapitalize the two mortgage giants, a prelude to privatization; the bank’s focus on mid-tier corporations is starting to bear fruit.
About 15% of the bank’s partners are likely to leave this year to make room for new ones; the bank said it is looking into why it charges some customers even after their accounts are closed.
The co-head of the bank’s securities division, 55, was once seen as a possible CEO; the institutions are gobbling up small banks at a record pace, prompting pushback from banks.
UBS promoted female bankers to key positions at the top of world's largest wealth manager, broadening the pool of potential candidates to eventually succeed Chief Executive Officer Sergio Ermotti and bringing more diversity to the board.
Bank of America is building up its teams focused on the world's wealthiest family offices, buyout firms and sovereign wealth funds to take advantage of a surge in dealmaking.
