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Paul J. Davies

Paul J. Davies

Bloomberg

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Labour Party Is Right to Make Private Equity Pay Fair Tax

Britain’s Labour Party is coming for the low tax enjoyed by private equity managers. There will be overcooked threats of executive flight and a loss...

previous day 4

Bloomberg

Paul J. Davies

Rachel Reeves Has a Deal for the City and for Britain

Rachel Reeves and her Labour party economics and finance team have two challenges: Winning power, and then getting enough done quickly to have a...

10.06.2024 20

Bloomberg

Paul J. Davies

The UK Has a Productivity Problem. Tory Rule Made It Worse.

This is part of a series on what 14 years of Tory rule have delivered for Britain’s economy, society and standing in the world. The challenges...

03.06.2024 30

Bloomberg

Paul J. Davies

UBS’s Ermotti Starts the Race. His Job Is the Prize

Sergio Ermotti has made it clear he would only lead UBS Group AG in his second stint as chief executive officer for the time it took to absorb Credit...

30.05.2024 7

Bloomberg

Paul J. Davies

What JPMorgan Can Learn From Morgan Stanley and Manchester United

Sir Alex Ferguson’s 26 years managing English football club Manchester United won him worldwide fame for success and leadership. He even became a...

28.05.2024 10

Bloomberg

Paul J. Davies

FDIC Fight Exposes Grubby Politics of Regulation

Regulation of banking in the US is often highly political – and politics can be grubby. The recent debate over the leadership of the Federal Deposit...

21.05.2024 10

Bloomberg

Paul J. Davies

Bonus Cap Removals Give Power Back to Bank Investors

Investors in Barclays Plc and HSBC Holdings Plc voted overwhelmingly to scrap UK bonus caps for investment bankers and traders at their annual...

14.05.2024 20

Bloomberg

Paul J. Davies

BBVA Should Just Walk Away From Sabadell

Banco Bilbao Vizcaya Argentaria SA has gone hostile in its pursuit of smaller Spanish rival Banco de Sabadell SA in a highly unusual move both for...

09.05.2024 10

Bloomberg

Paul J. Davies

The FDIC’s Culture Is a Toxic Relic That Shouldn't Exist

One shocking thing about the independent review into the Federal Deposit Insurance Corporation’s workplace misconduct and culture is that it seems...

08.05.2024 40

Bloomberg

Paul J. Davies

UBS Seems Set to Keep Its Promises to Shareholders

The big question for UBS Group AG shareholders is how badly its share buyback promises will be knocked by the Swiss government’s desire to pursue...

07.05.2024 10

Bloomberg

Paul J. Davies

The Forgotten Management Guru Who Knows Why Nothing Works

If Stafford Beer is remembered at all today, it’s for a luckless cameo trying to help President Salvadore Allende run Chile’s newly nationalized...

05.05.2024 40

Bloomberg

Paul J. Davies

BBVA Makes an Offer Sabadell Investors Shouldn't Refuse

Shareholders in Banco de Sabadell SA pondering the takeover offer from Spanish rival Banco Bilbao Vizcaya Argentaria SA shouldn’t think too hard....

03.05.2024 20

Bloomberg

Paul J. Davies

Noel Quinn Quits as Chief While HSBC Is Ahead

Changing the fortunes of a bank the size of HSBC Holdings Plc is like trying to turn an oil tanker. In Noel Quinn’s nearly five years as chief...

30.04.2024 9

Bloomberg

Paul J. Davies

Barclays Investment Bankers Need to Pick Up the Pace

Barclays Plc, BNP Paribas SA and Deutsche Bank Group AG have all made big promises about the growth to come from their investment banks as part of...

25.04.2024 20

Bloomberg

Paul J. Davies

Jamie Dimon Has a Rival in Tech: Silicon Valley Bank

Since Silicon Valley Bank became the second-biggest failure in US history a year ago, other lenders have been trying to take its place in banking the...

24.04.2024 20

Bloomberg

Paul J. Davies

How JPMorgan’s Cash Call Beat Bank of America

When the Federal Reserve flooded the economy with cash during the Covid-19 pandemic it exacerbated a problem for America’s largest banks: What to do...

22.04.2024 20

Bloomberg

Paul J. Davies

Wall Street's Deals Rebound Is Missing Something

Dealmaking is back! At least that’s what it looks like after the big five US investment banks reported a 27% increase in first-quarter fees from...

16.04.2024 9

Bloomberg

Paul J. Davies

Big AI Users Fear Being Held Hostage by ChatGPT

Most people were barely aware that OpenAI existed 18 months ago. Now, ChatGPT is among the most desired tools for businesses everywhere. But as...

16.04.2024 10

Bloomberg

Paul J. Davies

UBS’s Capital Fears in Switzerland Have Arrived

UBS Group AG had hoped that the Swiss government wouldn’t make onerous demands for more capital in the wake of its hyper-profitable rescue of Credit...

11.04.2024 9

Bloomberg

Paul J. Davies

Archegos-ViacomCBS Suit Is a Dumb Money Reminder

Stock markets in 2020 and 2021 exhibited way more than their fair share of stupid. There was the incredible rally in shares of Hertz Global Holdings...

09.04.2024 6

Bloomberg

Paul J. Davies

For Private Credit Investors, a Whodunit With a Twist

Get your rumpled raincoat and trilby, there’s a case to crack! Investors are hiring private investigators to help them track the performance of...

04.04.2024 20

Bloomberg

Paul J. Davies

Generative AI Is Coming for Your Bank. Maybe.

Big banks are scrambling to work out what to do with generative artificial intelligence: how to use it to make some of their people smarter or free up...

27.03.2024 10

Bloomberg

Paul J. Davies

Visa-Mastercard Deal Won’t End Swipe Fee Battle

The US credit card industry is desperate to head off an effort in Congress to slash the lucrative swipe fees charged on every transaction. It’s...

26.03.2024 10

Bloomberg

Paul J. Davies

Reddit to the Moon Won’t Launch an IPO Boom

Two knockout stock-market debuts by tech companies last week will boost confidence among others waiting for their chance to go public – and lift the...

25.03.2024 7

Bloomberg

Paul J. Davies

After Credit Suisse, Switzerland Still Has Issues

The collapse of Credit Suisse Group AG was a shock, but it shouldn’t have been much of a surprise. Years of bad strategy and poor management...

18.03.2024 7

Bloomberg

Paul J. Davies

Financial Crises Are a Feature, Not a Bug, of the US System

It’s a year since the failures of Silicon Valley Bank and Signature Bank – and the renewed cries of “never again.” Almost instantly began...

08.03.2024 20

Bloomberg

Paul J. Davies

Mnuchin Gets NYCB for a Song. Now Comes the Hard Part.

New York Community Bancorp Inc. has found itself a life preserver, but it has yet to get itself out of the sea. The troubled regional lender won a $1...

07.03.2024 7

Bloomberg

Paul J. Davies

New York Community Bancorp Woes Put Spotlight on Supervisors

The hits keep coming for New York Community Bancorp: What matters now is how its depositors react to the spreading dumpster fire. Nervousness among...

01.03.2024 20

Bloomberg

Paul J. Davies

Banks Are Back Into Credit Derivatives. Stay Calm.

Barclays Plc struck a $1.1 billion deal with Blackstone Inc. this week to offload risks in its US credit-card business while still managing the...

29.02.2024 10

Bloomberg

Paul J. Davies

Banks’ Real Estate Losses Will Be Hyperlocal

The sense of impending doom in commercial property is almost inescapable in the US and Europe, but evidence of actual disaster is scant. Real estate...

15.02.2024 10

Bloomberg

Paul J. Davies

NYCB May Be Contagious, But Not How You Think

New York Community Bancorp Inc. is being touted as a canary in the coalmine for a dangerous crisis in commercial property lending. It isn’t really...

08.02.2024 10

Bloomberg

Paul J. Davies

UBS Is Setting Itself Targets It May Easily Beat

UBS Group AG Chief Executive Officer Sergio Ermotti is desperate to restore the Swiss bank’s reputation for consistent, generous cash returns as...

06.02.2024 20

Bloomberg

Paul J. Davies

Why Banks and Airlines Love Rewards Cards More Than You Do

Brian Kelly is The Points Guy, a pioneer in the cottage industry that helps credit card users get the most out of airmiles and other rewards. He got...

05.02.2024 4

Bloomberg

Paul J. Davies

BNP and Deutsche Bank Are a Bit Too Excited About Deals

US investment banks are worried they will lose their competitive edge globally if proposed capital increases get pushed through. Some European rivals...

02.02.2024 6

Bloomberg

Paul J. Davies

Julius Baer Is Another Facepalm for Swiss Banking

Swiss banking is having another stomach-churning moment, but this one at least is only an embarrassing rather than existential event. Julius Baer...

01.02.2024 4

Bloomberg

Paul J. Davies

David Viniar Knows Goldman Sachs All Too Well

David Viniar is a highly respected former executive who knows Goldman Sachs Group Inc. inside out. He should do: He worked there for more than three...

25.01.2024 10

Bloomberg

Paul J. Davies

This Neat UBS Trick Could Kickstart European Bank Deals

Everyone agrees that Deutsche Bank AG has little chance of executing a big bank takeover in anything like the near term. There are lots of hurdles:...

22.01.2024 10

Bloomberg

Paul J. Davies

The Fed Should Hit Pause on Its Capital Endgame

Time is tight for the Federal Reserve’s effort to redraw US bank capital rules, but they shouldn’t rush the job. The better course would be to...

18.01.2024 10

Bloomberg

Paul J. Davies

Fresh Starts at Goldman Sachs, Morgan Stanley Look Stale

It was supposed to be a new day at Goldman Sachs Group Inc. and Morgan Stanley. Both Wall Street firms set out on their fourth-quarter earnings calls...

16.01.2024 10

Bloomberg

Paul J. Davies

Citigroup’s Goal Is Clearer, But Getting Started Is Hard

For all the talk of soft landings, things still look pretty bumpy for Citigroup Inc. It stood out among four big US banks Friday by reporting a...

12.01.2024 40

Bloomberg

Paul J. Davies

M&A Bankers Confront a Fragile, Stop-Start Year

Investment bankers must at times bore themselves with their talk of “strong pipelines” and “active conversations,” the ever-present...

05.01.2024 7

Bloomberg

Paul J. Davies

Jane Fraser’s Empathy Doesn’t Mean Citi Is Soft

“You can be a straight talker without being an unpleasant person,” Jane Fraser told a CNN interviewer in 2018, long before she became...

27.12.2023 30

Bloomberg

Paul J. Davies

Cevian’s Hopes for UBS Are Probably a Bit Rich

Cevian Capital AB’s $1.3 billion bet on UBS Group AG is unusual in more ways than one. The Stockholm-based investment firm is typically a quiet...

20.12.2023 70

Bloomberg

Paul J. Davies

AI Offers Banks New Ways to Repeat Old Mistakes

The extraordinary hype around artificial intelligence this year touched the finance industry, too, but most banks have been rightly cautious about...

19.12.2023 20

Bloomberg

Paul J. Davies

Lawyers Handle Dirty Money, Too. Make Them Report It

The fight against money laundering, terror finance and tax dodging has made big demands on banks for years – and regulators have punished them...

18.12.2023 10

Bloomberg

Paul J. Davies

We’ll Soon See If New Fed Defenses Work Against Money Mayhem

Big central banks are going to keep shrinking their balance sheets next year, pulling money out of the financial system, even if the fight against...

05.12.2023 5

Bloomberg

Paul J. Davies

Private Credit Isn’t as Risky as Some May Believe

The rapid rise of funds that make loans directly to buyout deals and other highly indebted companies — known as private credit — is among the...

04.12.2023 10

Bloomberg

Paul J. Davies

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