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Goldman Sachs earnings dip on trading declines

Goldman Sachs reported lower quarterly profits Thursday due to declines in some key trading divisions, but notched a big gain in financial advisory services. Earnings for the first quarter came in at $2.03 billion, down 10 percent from $2.26 billion a year ago. The US investment bank cited an 11 percent drop in revenues from fixed income, currency and commodity trading, a weak area this quarter for many Wall Street firms due to weak client demand. Revenues in equity trading were down 17 percent from the year-ago level.

Deutsche Bank denies report its CEOs' jobs are at risk

FRANKFURT (Reuters) - Deutsche Bank <DBKGn.DE> denied a media report that said its co-Chief Executives Anshu Jain and Juergen Fitschen could be replaced, possibly with former UBS <UBSN.VX> finance chief John Cryan. Germany's Manager Magazin on Wednesday cited "insiders" saying Deutsche Bank supervisory board chairman Paul Achleitner was preparing to bring in a new chief executive.

Credit Suisse subpoened in tax-evasion probe

A New York regulator probing Credit Suisse's role in enabling tax evasion has demanded a trove of additional documents from the bank, a person familiar with the situation said Tuesday. Benjamin Lawsky, New York's superintendent of financial services, last week subpoenaed Credit Suisse for banker's emails, hard drives, personnel records, travel records, expense records and calendar entries. The probe is investigating "whether any misrepresentations were made to the department, as well as the potential evasion of New York taxes," the source said.

Goldman Sachs committed to Brazil operations: COO Cohn

By Maria Carolina Marcello and Anthony Boadle BRASILIA (Reuters) - Goldman Sachs Group Inc is committed to maintaining its investment-banking operations in Brazil as part of its global footprint, Chief Operating Officer Gary Cohn said on Wednesday.

Deutsche Bank seeks shareholder approval for bonus increase

FRANKFURT (Reuters) - Deutsche Bank <DBKGn.DE> will ask shareholders to approve raising limits on executive bonuses for 2014 as required by new European rules, according to an agenda for the bank's annual shareholder meeting to be held on May 22. European Union rules say that bankers' bonuses cannot exceed the annual fixed salary, or twice that if shareholders approve, to curb the sort of excessive risk-taking blamed for the 2008-09 financial crisis.

Hotel chain La Quinta makes subdued debut in crowded IPO market

By Neha Dimri and Anil D'Silva (Reuters) - Shares of Blackstone-backed hotel chain La Quinta Holdings Inc <LQ.N> made a subdued market debut as investors took the view that the stock was fully priced in a crowded IPO market. La Quinta's shares, which priced below the expected range at $17, fell as much as 4 percent in early trading before recovering their losses to trade up more than 2 percent. At $17, the company is valued at just over $2 billion.

Credit Suisse confirms fund venture with manager Stuhlberger

SAO PAULO (Reuters) - Credit Suisse Group AG <CSGN.VX><CS.N> confirmed on Wednesday it was setting up a new asset management venture under the control of Brazilian money manager Luis Stuhlberger, confirming an earlier report by Reuters. (Reporting by Guillermo Parra-Bernal; Editing by Jeffrey Benkoe)

Greenhill hires Pereira from Goldman to beef up Brazil unit

By Guillermo Parra-Bernal SAO PAULO (Reuters) - New York-based investment bank Greenhill & Co Inc on Monday said it hired former Goldman Sachs Group Inc dealmaker Rafael Pereira, expanding its mergers and acquisitions unit in Brazil. Pereira, who for eight years worked at Goldman, joins Greenhill's São Paulo-based office as a vice president. Prior to Goldman, where he covered the insurance, financial services, healthcare and technology sectors, Pereira was a banker at Credit Suisse Group AG.

New US tax-evasion probe against Credit Suisse

Credit Suisse faces a new probe over its role in enabling US tax evasion, this time from a New York state regulator, a person familiar with the matter said Monday. Benjamin Lawsky, New York's superintendent of financial services, suspects Credit Suisse officials in New York of "misrepresentations" to state regulators over its role in enabling US citizens to evade taxes, the person said. Lawsky has demanded and obtained documents from the New York office of the Swiss bank, the source added.

Credit Suisse faces threat of new U.S. tax probe

ZURICH (Reuters) - Credit Suisse faces the threat of a new investigation into its role in helping wealthy Americans avoid paying taxes after New York state's top financial regulator requested documents from the Swiss bank. Switzerland's second-largest lender had raised expectations it was putting the long-running American tax controversy behind it when it set aside an extra half a billion dollars last week to deal with a U.S. Department of Justice probe into its involvement in offshore tax evasion.
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