Small investment banks are growing in influence as their big brethren suffer at the hands of tarnished reputations, sliding stock prices and public outcry. Centerview is a standout in this trend, Fortune reports, even if it was launched just six years ago and has only 22 senior bankers. Over the past year and a half, Centerview has overseen $60 billion in deals, including its current project: the fragmentation of giant News Corp.
The bank is an industry favorite, perhaps because of its commitment to spend 70 percent of its time counseling clients, and the remaining time executing deals. Other core values and strengths include: shying away from big leverage, helping clients manage activist investors and new and tricky business strategies.
Deutsche introduces tough bonus rules. [Financial Times]
Investment banks raised starting salaries this summer to attract top graduates. [Telegraph]
Nomura plans cuts. [Reuters]
China Construction Bank’s first-half net profit rose 15 percent, but overdue loans raises questions about future profitability. [WSJ]
Private equity profits from small-time deals. [DealBook]
Merrill’s proposed settlement with ex-brokers may trigger more lawsuits. [Investment News]
Foreign regulators complain about U.S. swaps rules. [WSJ]
RBS ended talks to sell its insurance unit and will instead float the business. [Telegraph]
U.S. to investigate HSBC on money laundering. [NY Times]
Survey says British bankers like working in Singapore. [Bloomberg]
Insurers face big agriculture losses this year. [Financial Times]
Dublin’s puppet musical about bankers is a hit. [Financial Times]