investment banks

HSBC Plans 14,000 More Job Cuts

HSBC Plans 14,000 More Job Cuts

By Lawrence White and Steve Slater HONG KONG/LONDON -- HSBC will redouble its cost-cutting efforts, including axing up to 14,000 more jobs, but Europe's largest bank was forced to soften a key performance target in the face of muted revenue. London-headquartered HSBC is seeking up to $3 billion in additional... Read More »

Morgan Stanley Plans To Cut 1,600 More Jobs

Morgan Stanley Plans To Cut 1,600 More Jobs

(Reuters) - Morgan Stanley plans to cut 1,600 employees starting this week, two people familiar with the matter said on Wednesday, in the latest sign of a pullback on Wall Street as revenue from trading and deal-making remains in the doldrums. The staff reduction pertains to Morgan Stanley's institutional... Read More »

Aspiring Investment Bankers Determined To 'Prove People Wrong'

Aspiring Investment Bankers Determined To 'Prove People Wrong'

Last summer, David Wang had an internship at an investment bank in Stamford, Conn. He loved it like a kid first learning about the stars, and deciding to be an astronaut. "I was speechless, really, at how amazing a career this was," he says. "This is where I really want to be." But the timing's a little... Read More »

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