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United States

Dan Wilchins

Jeff Mason is a White House Correspondent for Reuters and the 2016-2017 president of the White House Correspondents’ Association. He was the lead Reuters correspondent for President Barack Obama's 2012 campaign and interviewed the president at the White House in 2015. Jeff has been based in Washington since 2008, when he covered the historic race between Obama, Hillary Clinton and John McCain. Jeff started his career in Frankfurt, Germany, where he covered the airline industry before moving to Brussels, Belgium, where he covered the European Union. He is a Colorado native, proud graduate of Northwestern University and former Fulbright scholar.

Twitter handle: @jeffmason1

Dec 07 2015

HSBC looks to global loan book to boost profits

NEW YORK HSBC is looking to boost investment banking profits by packaging more of its loans into bonds and selling them to investors in the United States.

Dec 07 2015

HSBC looks to global loan book to boost profits

NEW YORK HSBC is looking to boost investment banking profits by packaging more of its loans into bonds and selling them to investors in the United States.

Dec 07 2015

HSBC looks to global loan book to boost profits

NEW YORK, Dec 7 HSBC is looking to boost investment banking profits by packaging more of its loans into bonds and selling them to investors in the United States.

Nov 06 2015

U.S. bank merger recovery could get hurt by recent turkeys

NEW YORK The recent pickup in U.S. bank merger activity could slow down in the coming months after regional banks that announced deals last week were punished in the stock market, bankers said.

Nov 06 2015

U.S. bank merger recovery could get hurt by recent turkeys

NEW YORK The recent pickup in U.S. bank merger activity could slow down in the coming months after regional banks that announced deals last week were punished in the stock market, bankers said.

Nov 06 2015

Insight - U.S. bank merger recovery could get hurt by recent turkeys

NEW YORK The recent pickup in U.S. bank merger activity could slow down in the coming months after regional banks that announced deals last week were punished in the stock market, bankers said.

Nov 06 2015

Insight - U.S. bank merger recovery could get hurt by recent turkeys

NEW YORK The recent pickup in U.S. bank merger activity could slow down in the coming months after regional banks that announced deals last week were punished in the stock market, bankers said.

Oct 07 2015

Insight - Goldman, Morgan Stanley win back hedge fund trading business

NEW YORK Goldman Sachs and Morgan Stanley are winning back the trading business of hedge fund clients that they lost to European rivals during the financial crisis, as new capital rules spur banks like Deutsche Bank to scale down their businesses. The two U.S. banks together now have about 37 percent of the market for trading with hedge funds and financing positions, known as "prime brokerage," up about 6 percentage points from the end of last year, according to research firm Preqin. The market share gains are fuelling stock trading profits at JPMorgan Chase & Co. as well as at Goldman and Morgan Stanley, and could be a bright spot when the companies post results later this month. Prime brokerage is one of the few areas on Wall Street where revenue and prices are rising, even though competition is receding, executives in the business and analysts told Reuters. "With the foreign banks backing away, it's become a greener pasture for some of the U.S. prime businesses," said Larry Tabb, founder of financial markets advisory firm Tabb Group. It's a business which the U.S. banks are marketing aggressively. Steve Boyd, founder of hedge fund Armistice Capital, originally used just Zurich-based UBS AG as a prime broker when he started the fund in 2012. Last year, a Morgan Stanley representative told him the bank wanted his business. "We weren't even looking for a second prime yet," Boyd said. "They told us they were interested in investing in a relationship with us, and didn't just want to work with us when it was highly profitable for them." Armistice ended up giving some of its business to Morgan Stanley. European banks are falling behind because of new global rules, known as Basel III, designed to make banks safer. Those rules limit the amount of debt that banks can take on to fund their assets, and specify the minimum amount of equity, or capital, that banks must use. Prime brokerage for stocks, bonds, and related derivatives demands high amounts of capital, by one measure, forcing Europeans banks that are close to the lower limits of capital to scale down their businesses. Preqin data show that since 2013, Deutsche Bank's market share has fallen by a percentage point to 7 percent, with the losses happening mainly in 2014. Credit Suisse's new chief executive, Tidjane Thiam, is planning to slash its prime brokerage business, according to a Swiss newspaper report in September. In April, Credit Suisse's co-head of investment banking, Tim O'Hara, had said the bank is fully committed to the business. Both Credit Suisse and Deutsche Bank are in the middle of global strategic reviews.

Oct 07 2015

Goldman, Morgan Stanley win back hedge fund trading business

(Corrects 25th paragraph to show Swiss leverage law has not been passed by the upper house)

Oct 06 2015

Goldman, Morgan Stanley win back hedge fund trading business

NEW YORK Goldman Sachs and Morgan Stanley are winning back the trading business of hedge fund clients that they lost to European rivals during the financial crisis, as new capital rules spur banks like Deutsche Bank to scale down their businesses.

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