
Max Abelson
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- Former First Republic Star Erkan Nabs Top Job Back in Turkey25 Jul 2023—BloombergHave a confidential tip for our reporters? Get in Touch Before it’s here, it’s on the Bloomberg Terminal LEARN MORE Hafize Gaye Erkan rose just about as high as you can on Wall Street. The co-head of First Republic Bank left about a year and a half before its collapse, ran another finance firm, then exited when its plans to buy a bank didn’t pan out. Now, freshly installed as the first woman to run Turkey’s central bank, she’s surprising investors with her plans to shape one of the world’s...
- Real Estate Woes Drive Billion-Dollar Hit for Goldman Sachs19 Jul 2023—BloombergIt’s a tough time to be in the real estate business. That means Goldman Sachs Group Inc. is feeling some pain, too. The bank isn’t the largest property lender, but it has more than $14 billion of real estate investments. Writedowns of those bets helped drive a $1.15 billion hit in the second quarter. The firm didn’t detail which properties drove the loss, which was spread across equity and debt investments on its balance sheet as well as some consolidated investment entities. Goldman added a...
- Remember Credit Suisse? Reunited Bankers Would Rather Not18 May 2023—BloombergWall Street veterans were filling up a terrace bar overlooking New York’s Bryant Park on a mild Tuesday evening in May when two women clinked glasses. “Chin-chin,” said Janine Shelffo, who was a tech, media and telecom banker at Donaldson Lufkin & Jenrette before the longtime Wall Street firm was bought in 2000. “Credit Suisse gobbled up the best firm on Wall Street and destroyed it.” Her former colleagues have been throwing reunions for themselves since just after Credit Suisse swallowed...
- First Republic’s Rich — and Vocal — Clients Take Time to Consider Moving Their Money29 Mar 2023—BloombergListen to this article 4:02 The California philanthropist and her Wall Street husband called First Republic Bank nothing less than a life partner. A New York real estate billionaire said it’s always there for him. The fast-food mogul in a wood-paneled room said he and the lender agree: success comes from trust. Then the bank teetered. First Republic’s stock plunge in the wake of other failures has left the millionaires, billionaires and up-and-comers who’ve sung its praises in public...
- Credit Suisse Tells Staff to Go to Work as Somber Mood Sets In20 Mar 2023—BloombergAs the demise of Credit Suisse Group AG reverberated from Sydney to New York City on Monday, workers were given a clear message: get back to work. Promised bonuses and pay increases will still be paid after a tumultuous week that ended in the 166 year-old lender being taken over by its largest rival UBS Group AG, the bank said in a memo to staff that urged them to continue “business as usual.”
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