Latest news with #investmentbank
Yahoo
2 hours ago
- Business
- Yahoo
Michael Taets Joins Academy Securities as Managing Director, Head of Corporate Finance
NEW YORK, July 30, 2025--(BUSINESS WIRE)--Academy Securities, the nation's first Post-9/11 veteran owned and operated investment bank, today announced the addition of Michael Taets as Managing Director, Head of Corporate Finance. Michael Taets joins the Academy team with significant experience in treasury and capital markets, having served in senior leadership roles at major financial institutions. Most recently, he was Senior Vice President and Treasurer at Worldpay. Prior to Worldpay, he held critical positions at GE Capital as Deputy Treasurer of Global Funding & Exposure Management and Managing Director of Asset/Liability Management. His career also includes nearly two decades at Freddie Mac, where he advanced to VP of Asset/Liability Management and Senior Portfolio Manager, overseeing extensive financial portfolios and risk management operations. Prior to his career in finance, he served as an enlisted soldier in the United States Army National Guard. "Michael brings a wealth of experience and exceptional leadership skills to Academy," said Academy's Chairman and CEO Chance Mims. "His deep knowledge of capital markets and balance sheet management will be instrumental in supporting our continued growth and success." Mr. Taets commented on joining the firm: "It's an honor to join a mission-driven firm like Academy Securities, where service, integrity, and purpose are at the core of everything we do. I'm excited to help clients navigate today's financial and geopolitical complexity with strategic, solutions-oriented advice." Mr. Taets holds a B.S. in Finance from Illinois State University and an MBA from The George Washington University School of Business. He is also a Chartered Financial Analyst (CFA) charterholder and volunteers on the Board of Trustees of the Westport Weston Family YMCA, underscoring his dedication to leadership both professionally and within the community. "We are very pleased to have Michael joining Academy," said Academy's Vice Chairman Phil McConkey. "His expertise and proven ability to lead complex financial operations will undoubtedly add tremendous value to our team and our clients." About Academy Securities Academy Securities is a FINRA registered Broker Dealer and a preeminent veteran owned investment bank with strengths in capital markets, asset management, public finance, geopolitical intel, fixed income, and equity trading. Leadership and staff have had intensive military training prior to entering and gaining in-depth financial services experience in global capital markets. We are mission driven with a high ethical code, a solid sense of accountability and strive for excellence in the pursuit of our clients' success. Academy is our nation's first post-9/11 veteran owned and operated investment bank and is certified as a DVBE, SDVOB, and MBE. The firm has a strong top and middle tier client base served by a national platform with offices in New York, Chicago, San Diego, Chapel Hill, Louisville, Austin, Dallas, Sacramento, and West Palm Beach. Information about Academy Securities is available at View source version on Contacts Academy SecuritiesMichael Boyd, 646-736-3995Chief Compliance Officermboyd@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Daily Mail
3 hours ago
- Business
- Daily Mail
George Osborne eyes windfall as his investment bank is bought for £146m
George Osborne is set for a multi-million-pound payday after his boutique investment bank was snapped up by a US rival. Mayfair-based Robey Warshaw, a trusted advisor to some of Britain's biggest companies where the former Chancellor is one of five partners, has agreed to a takeover by Evercore for £146million. It is unclear how the proceeds will be split but it works out at an average of £29.2million for each partner – including Osborne. The deal marks just the latest windfall for the ex-politician since he joined the firm in 2021, as he built a new and highly lucrative career having been ousted as Chancellor following the Brexit vote. He and his fellow partners shared £30million in his first year at the company while last year profits jumped to £70million. That saw the best-paid partner – believed to be co-founder Simon Robey –handed £40.5million while the other partners including Osborne shared a pot of £29.5million. Osborne has held a number of jobs since leaving Office, including editor of the Evening Standard newspaper from 2017 to 2020. As well as being a partner at Robey Warshaw, he is currently chairman of the British Museum, where he is said to working on a possible loan of the Elgin Marbles back to Greece. Robey Warshaw was founded in 2013 by former Morgan Stanley bankers Robey and Philip Apostolides along with UBS banker Simon Warshaw. Osborne became the fourth partner in 2021 and a fifth, Chetan Singh, joined in 2024. The bank has built a reputation as a leading boardroom adviser to Britain's largest corporates over the past decade. Blue-chip clients include HSBC, BP, Vodafone and National Grid and it has worked on some of the biggest deals of recent years including the £79billion acquisition of brewer SABMiller by AB InBev, Comcast's takeover of Sky and Todd Boehley's bid for Chelsea FC. This work has brought in huge fees for the company – with the lion's share handed out to its partners. Payment from the takeover by New York-based Evercore will be in two tranches: half in Evercore shares when the deal closes and the remainder a year later in either cash or stock. 'I don't think I've ever worked with a more talented, more able banker than Simon Robey,' Evercore founder and senior chairman Roger Altman told the Financial Times. 'Discussions evolved over a very long period of time and they finally culminated in a mutual sense that this was the right thing to do.' Evercore chief executive John Weinberg said: 'Robey Warshaw brings extraordinary, long-standing relationships with some of the world's leading multinational companies. Robey said: 'Our clients will continue to get the personal attention and care we have always strived to provide. They will also be able to benefit from greater global reach, broad product capabilities and sector expertise. Evercore is the right home for all of us.'
Yahoo
a day ago
- Business
- Yahoo
Barclays posts profit beat and announces £1bn share buyback
Barclays (BARC.L) beat profit expectations in the second quarter and announced a further £1bn in share buybacks. Pre-tax profit rose 28% in the second quarter to £2.84bn, results released on Tuesday showed. That exceeded expectations of £2.24bn, according to consensus estimates provided by the bank. For the first half, profit before tax totalled £5.2bn, which was up 23% from the same period last year. Total income was up 14% in the second quarter at £7.19bn, which was also ahead of expectations of £7.01bn. Group net interest income — the gap between what the bank pays out to savers and receives from borrowers in interest — excluding Barclays Investment Bank and head office, came in at £3.1bn, up 13% year-on-year. Barclays also recorded a return on tangible equity — a key measure of profitability — of 12.3% in the second quarter, up from 9.9% for the same period in 2024. The bank announced a further share buyback of £1bn and a half-year dividend of 3p per share. This came after Barclays said on Friday that it had completed the £1bn share buyback programme it announced in its full-year results in February. Barclays CEO CS Venkatakrishnan, known as Venkat, said: "We remain on track to achieve the objectives of our three-year plan, delivering structurally higher and more stable returns for our investors. Read more: NatWest beats on profits and announces £750m share buyback "At the mid-point of the plan, with six quarters of consistent execution, we have achieved over half of the c.£30bn planned UK risk weighted assets (RWAs) growth, half of the target income growth and realised two-thirds of the £2bn planned gross cost efficiency savings." The bank had posted a stronger-than-expected 19% rise in first-quarter profits in results released at the end of April, as improved performance in its investment banking division helped the UK lender outpace analyst forecasts. Pre-tax profit for the three months to March rose to £2.7bn, exceeding analysts' expectations of £2.49bn, according to data from LSEG. Group revenues reached £7.7bn, also ahead of the consensus estimate of £7.33bn. Read more: Tesla disappoints while Alphabet tops expectations to kick off Mag 7 earnings The big tax change set to push vulnerable people out of work How to get the best currency exchange deal for your holiday moneySign in to access your portfolio
Bloomberg
2 days ago
- Business
- Bloomberg
Nordic Bank Leads Europe IPO Arrangers as Local Listings Boom
A regional investment bank has become Europe's most prolific underwriter of initial public offerings, tapping a rich vein of listings in the continent's northernmost corner. Nordic-focused DNB Carnegie worked on five IPOs so far this year that raised roughly $2 billion in proceeds, accounting for about a third of all European volumes for the period, according to data compiled by Bloomberg. The deals have catapulted the bank to the number one spot for European IPOs thus far in 2025, and number two for the wider Europe, Middle East and Africa region after Citigroup Inc.
Bloomberg
5 days ago
- Business
- Bloomberg
HSBC Cuts Equities Team in Germany as CEO Elhedery Continues Revamp
HSBC Holdings Plc is planning to let go of several staff in its Germany-based equities team as it continues to pare the investment banking division outside Asia and the Middle East. The London-headquartered lender is preparing to cut equities sales and trading jobs in the Dusseldorf office, according to people familiar with the matter. The move is part of Chief Executive Officer Georges Elhedery's effort to revamp the investment bank, the people said, asking not to be identified discussing private information.
