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Exclusive: JPMorgan shakes up investment bank in leadership makeover – sources

JPMorgan is reshuffling senior management at the top of its investment bank, naming two new global co-heads and shifting some of its most senior dealmakers into new jobs focused purely on bringing in business, two sources told Reuters. The Wall Street bank has named Viswas Raghavan and James Casey to jointly run its global investment bank, one source said. Global M&A co-heads Hernan Cristerna and Chris Ventresca are among those who will drop management responsibilities and instead join a new executive committee of 18 global chairs, the two sources said, focused on winning business from clients. …read more […]

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Exclusive: JPMorgan shakes up investment bank in leadership makeover – sources

JPMorgan is reshuffling senior management at the top of its investment bank, naming two new global co-heads and shifting some of its most senior dealmakers into new jobs focused purely on bringing in business, two sources told Reuters. The Wall Street bank has named Viswas Raghavan and James Casey to jointly run its global investment bank, one source said. Global M&A co-heads Hernan Cristerna and Chris Ventresca are among those who will drop management responsibilities and instead join a new executive committee of 18 global chairs, the two sources said, focused on winning business from clients. …read more […]

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Exclusive: Samsung wins 5-nanometer modem chip contract from Qualcomm – sources

SAN FRANCISCO/SEOUL (Reuters) – Samsung Electronics Co Ltd’s semiconductor manufacturing division has won a contract to make new Qualcomm Inc 5G chips using its most advanced chip-making technology, two sources familiar with the matter said, boosting the Korean firm’s efforts to gain market share against rival Taiwan Semiconductor Manufacturing Co. Samsung will fabricate at least some of Qualcomm’s X60 modem chips, which will connect devices such as smart phones to 5G wireless data networks. The X60 will be made on Samsung’s 5-nanometer process, the sources said, which makes the chips smaller and more power-efficient than previous generations. …read more […]

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Business News

Exclusive: Samsung wins 5-nanometer modem chip contract from Qualcomm – sources

Samsung Electronics Co Ltd’s semiconductor manufacturing division has won a contract to make new Qualcomm Inc 5G chips using its most advanced chip-making technology, two sources familiar with the matter said, boosting the Korean firm’s efforts to gain market share against rival Taiwan Semiconductor Manufacturing Co .

…read more […]

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Franklin Agrees to Buy Legg Mason to Create $1.5 Trillion Giant

(Bloomberg) — Franklin Resources Inc. agreed to acquire asset manager Legg Mason Inc. for almost $4.5 billion in a deal that would create an active-management investing giant.Franklin will pay all cash for Legg Mason, the companies said in a statement Tuesday. The transaction values Legg Mason at $50 per share, a 23% premium to the Baltimore-based company’s share price Friday.The transaction is another case of consolidation in the industry, as firms grapple with falling fees and the rising challenge from managers of index-tracking funds. In November, Charles Schwab Corp. agreed to buy TD Ameritrade Holding Corp. for about $26 billion; …read more […]