apanese bank MUFG is continuing to invest in its credit-trading business, and another piece of the revamp has fallen into place. MUFG has hired Todd Bondy to run its junk-bond trading unit, luring him away from RBC, according to people familiar with the matter.
The pandemic helped to pull big banks’ bond trading revenue out of a multi-year slump. Why it matters: Revenue within the so-called fixed income, currency and commodity (FICC) divisions has been slowing for years.
A researcher at Columbia says a portfolio of leveraged ETFs can handle stock market drops — and provides an attractive alternative to a traditional 60-40 allocation to stocks and bonds.
Overbond, the provider of AI quantitative analytics for institutional fixed income capital markets is to integrate Euroclear LiquidityDrive settlement-layer data for fixed income trade automation purposes.
Deluged by client orders and often working from home, Goldman Sachs Group Inc.’s workforce generated 15% more revenue per employee during the tumult of 2020. But as the year wound down, the firm had spent an average of just 2% more on each person. Inside JPMorgan Chase & Co.’s investment bank, revenue per employee surged 22%. The figure for pay: up 1%.