Key Takeaways Citigroup CFO Mark Mason forecasts that investment banking fees will rise by **mid-20% year-over-year** in the fourth quarter (Q4) of 2025, driven largely by momentum in mergers and acquisitions (M&A). In contrast, Citigroup expects markets revenue for the same period to decline by **low-to-mid single digits** year-over-year. The bank’s global economic outlook remains …
Executive Summary JPMorgan Chase projects that its investment banking revenue will increase by a low-single-digit percentage in the fourth quarter of 2025, with markets revenue rising in the low-teens, citing improved dealmaking conditions and higher trading activity. However, the bank also expects expenses in 2026 to surge to about $105 billion—well above Wall Street’s forecasts. …
JPMorgan Revenue Momentum Hits Headwinds: Fees Up Slightly, Costs Surge to $105B Read More »
Executive Summary Citigroup CFO Mark Mason expects investment banking fees in Q4 2025 to increase by approximately 25% year-over-year, driven by strong M&A activity; market revenues are projected to decline modestly compared to the same period. Meanwhile, the bank is underway with major transformation efforts, with around two-thirds of its cost-cutting and operational streamlining initiatives …
Citigroup Sees 25% Surge in Q4 Investment Banking Fees Amid Soft Market Revenues Read More »
Executive Summary On December 5, 2025, the Securities and Exchange Commission (SEC) agreed to terminate—or significantly modify—the remaining undertakings under the Global Research Analyst Settlement, long ago entered into in the early 2000s, which imposed strict firewalls and prescriptive rules for research‐banking separation. The change recognizes that many of those obligations have been superseded by …
SEC Moves to End Key Sections of Global Research Analyst Settlement via FINRA Rule 2241 Read More »
Executive Summary Hong Kong’s Securities and Futures Commission (SFC) and the Hong Kong Exchanges and Clearing (HKEX) have jointly urged investment banks to improve the quality of IPO applications, citing concerns over rushed or substandard submissions amid a surge in listings. More than 300 companies—most from mainland China—have filed to list so far in 2025, …
Hong Kong Tightens IPO Rules: Regulators Demand Higher Standards Amid Surge in Listings Read More »
Executive Summary Regulators have rescinded longstanding limits on “leveraged lending”—bank loans made to highly indebted companies—by withdrawing the interagency guidance from 2013 on such transactions. Additionally, bank capital rules are being loosened: the enhanced supplementary leverage ratio (eSLR) will be relaxed for large banks and their depository subsidiaries beginning April 1, 2026, and the community …
Regulators Roll Back Bank Capital & Leverage Rules—What That Means for Lending Risk Read More »
Executive Summary Foss Hill Financial is a student-led investment banking club at Wesleyan University founded in 2023 to guide students through the early and networking-heavy recruitment process for finance roles. It operates through a mentorship cohort structure, yields growing internship placement results, and is increasingly conscious of gender equity issues within its cohorts. Strategic challenges …
How Foss Hill Financial Builds an Inclusive Investment Banking Pipeline at Wesleyan Read More »
Executive Summary Scott Galloway’s first job out of college was in investment banking at Morgan Stanley, which he says he hated and was bad at—but he also credits the experience with imparting crucial life lessons in detail, pressure, self-awareness, and the limits of ‘passion’ over ‘talent’. Through subsequent careers and his writings, he emphasizes that …
What Scott Galloway Learned From Hating His Early Investment Banking Role Read More »
Executive Summary An eFinancialCareers article titled “I left my investment banking job for Amazon. Bankers have no idea what’s coming” describes the author’s switch from a major U.S. investment bank to a senior role at Amazon, citing better alignment with long-term impact and operational scale rather than deal cycles. Additional reporting shows banks are confronting …
Why Banks Are Losing Talent to Tech: AI, Short-Term Pressure & Career Shifts Read More »
Executive Summary JPMorgan Chase is accelerating its investment in its mid-cap investment banking division, making a series of senior hires across different specialties—consumer, energy, business services, natural resources, and capital goods—underscoring a strategic pivot to capture fee income and deal flow from mid-market firms. Key hires include two new managing directors for its North America …
JPMorgan Intensifies Mid-Cap Investment Banking Push With Sector Talent Surge Read More »
