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Banking

Exclusive: JPMorgan begins First Republic makeover as it opens more branches

The entrance to a First Republic Bank branch is seen in the Chinatown neighborhood of New York City, U.S., April 28, 2023. REUTERS/Shannon Stapleton/File Photo Acquire Licensing RightsNEW YORK, Dec 11 (Reuters) - JPMorgan Chase (JPM.N) is preparing to overhaul branches it acquired from failed First Republic Bank as the lender expands its formidable national footprint."Branches have been a winning strategy for us that is helping us capture more market share,” Jennifer Roberts, CEO of Chase Consumer Banking, told Reuters in an interview.Of the customers who hold deposits with the...
Funds

Infrastructure funds prepare sales of airports in UK and Italy-sources

A aircraft taxis past the control tower at Edinburgh Airport in Scotland April 23, 2012. REUTERS/David Moir/File Photo Acquire Licensing RightsLONDON, Dec 1 (Reuters) - A group of infrastructure investors around Europe are working on the sale of their stakes in European airports, leveraging on the recovery of travel in the wake of the COVID-19 pandemic, according to bankers, investors and industry sources.Among the largest of the airports that may see a change of ownership as soon as 2024 is Edinburgh, five of the sources said.Its owner Global Infrastructure Partners...
Banking

Market pushback on central banks’ rates view just got louder

Markets now price hefty ECB, Fed rate cuts in 2024Nov euro zone inflation eases more than expectedGap with central bank messaging widens furtherLONDON, Nov 30 (Reuters) - A big disconnect between financial markets and central banks has just got deeper, with traders ramping up their bets on interest rate cuts in the United States and Europe as evidence grows that inflationary pressures are fast abating.Money markets are now pricing in over 100 basis points apiece of rate cuts from the U.S. Federal Reserve and European Central Bank next year, and...
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