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Investment Banking News

Deutsche seizes ABN bargain from Fortis
Fortis has provided a stark illustration of how the banking environment has changed in the past 12 months when the Belgo-Dutch banking and insurance group was forced to sell parts of ABN Amro, the Dutch lender

Lehman issues shares to all its employees
Lehman Brothers has issued shares to all employees representing about 20 per cent of their equity compensation for the year, a person close to the matter said

Lehman speculation blamed on short-sellers
The US bank believes it is the victim of an orchestrated attempt to force it into sharing Bear Stearns' fate

Banks seek market-based pricing scheme
Proposed system to avoid losses marks a shift from charging at a fixed spread above Libor and targets undrawn loans agreed before the credit crunch hit last summer

Citigroup to overhaul bonus system
Citigroup is planning to overhaul its bonus system for hundreds of top managers in an effort to increase co-operation and minimise in-fighting among the disparate parts of the sprawling financial services conglomerate

Merrill weighs sale of stakes worth $15bn
Merrill Lynch will decide over the next fortnight whether to sell its $5bn-plus stake in the media group Bloomberg or its $10bn holding in the asset manager BlackRock as pressure grows on the Wall Street bank to raise capital

JPMorgan names head of sovereign funds
JPMorgan has recruited a global chief to oversee the bank's relations with sovereign wealth funds, in the latest sign of Wall Street's rising focus on state-backed investment groups

Lehman chief to forgo annual bonus
Dick Fuld, Lehman Brothers' chief executive, and one of his closest lieutenants will not receive a bonus this year to atone for the investment bank's poor performance - a sign that Wall Street is set for year of meagre pay-outs

Deutsche Bank signs China tie-up
Deutsche Bank has become the latest global investment bank to sign an agreement to set up a Chinese securities joint venture with a local partner.

BarCap plans to charter fleet of ships
Barclays Capital plans to charter its own fleet of ships within a year as the investment bank enters the volatile shipping market

UBS shake-up foreshadowed in Lazard review
UBS has hired external advisers to help with its strategic review in a signal that the troubled Swiss bank may be considering more radical steps than expected

Lehman veterans brought back in shake-up
Lehman Brothers has revealed a second phase of the management shake-up that has followed its $2.8bn second-quarter loss

Daiwa turns the tables with derivatives foray
Investment bank to set up derivatives business in London and Asia in a move that highlights the financial health of Japanese institutions relative to their US and European rivals

Job fears mount as Goldman sheds staff
Bankers fear the pace of job losses in the investment banking industry is set to accelerate during the summer after it emerged that Goldman Sachs cut staff at its investment banking division last week

Morgan Stanley to probe controls
The bank's internal probe into the suspected rogue trader who allegedly caused a $120m writedown will focus on why no early warning signs was sent by its internal controls