Antony's Feed
Apr 16, 2014
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BofA loss provides valuable mega-bank perspective

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By Antony Currie

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Anemic results underscore how little fun it is to run a mega-bank these days. A $276 million loss from Bank of America announced on Wednesday, however, at least provides some valuable perspective.

Apr 14, 2014
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Citi looks perfectly priced – for more mediocrity

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By Antony Currie

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Citigroup’s stock looks perfectly priced – for more mediocrity. The mega-bank’s $3.9 billion first-quarter profit was no disaster. Unlike JPMorgan, the firm run by Michael Corbat beat analysts’ estimates. Its bad bank, Citi Holdings, is no longer much of a drag. And the bank even managed to utilize a chunk of its substantial tax breaks and thus boost capital. For now, though, shareholders don’t have much more to cheer about.

Apr 14, 2014
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Citi looks perfectly priced – for more mediocrity

Photo

By Antony Currie

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Citigroup’s stock looks perfectly priced – for more mediocrity. The mega-bank’s $3.9 billion first-quarter profit was no disaster. Unlike JPMorgan, the firm run by Michael Corbat beat analysts’ estimates. Its bad bank, Citi Holdings, is no longer much of a drag. And the bank even managed to utilize a chunk of its substantial tax breaks and thus boost capital. For now, though, shareholders don’t have much more to cheer about.

Mar 25, 2014
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Dimon deputy epitomizes succession of all sorts

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By Antony Currie
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Jamie Dimon’s loss of a top deputy on Tuesday epitomizes succession issues of all sorts. Key lieutenant Mike Cavanagh has given up a shot at following his mentor atop JPMorgan for one helping run private equity firm Carlyle Group. The move shakes up leadership plans for both companies and also underscores a bigger shift in finance.

Mar 25, 2014
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Dimon deputy epitomizes succession of all sorts

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By Antony Currie
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Jamie Dimon’s loss of a top deputy on Tuesday epitomizes succession issues of all sorts. Key lieutenant Mike Cavanagh has given up a shot at following his mentor atop JPMorgan for one helping run private equity firm Carlyle Group. The move shakes up leadership plans for both companies and also underscores a bigger shift in finance.

Mar 5, 2014
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Ken Moelis engineers the deal of his lifetime

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By Antony Currie
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Ken Moelis has engineered the transaction of his lifetime. The veteran investment banker is taking his eponymous seven-year-old advisory firm public. Revenue and net income have grown at a fast enough clip to potentially justify a valuation of $2 billion or more. But investors will be granting the founder an exceptional degree of control for the opportunity to ride his coattails.

Feb 28, 2014
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Citi’s Mexico fraud besmirches industry further

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By Antony Currie
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Not for the first time, Citigroup has stepped into a mess – and by extension besmirched the financial industry. Not that Citi committed a crime, or colluded to set foreign exchange rates or Libor prices, say. Rather the bank is the victim of fraud in Mexico that could cost it much as $400 million. The problem is that the lender has been cheated out of the cash in one of the most basic businesses in banking. That should worry Citi’s rivals, too.

Feb 28, 2014
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Citi’s Mexico fraud besmirches industry further

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By Antony Currie
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Not for the first time, Citigroup has stepped into a mess – and by extension besmirched the financial industry. Not that Citi committed a crime, or colluded to set foreign exchange rates or Libor prices, say. Rather the bank is the victim of fraud in Mexico that could cost it much as $400 million. The problem is that the lender has been cheated out of the cash in one of the most basic businesses in banking. That should worry Citi’s rivals, too.

Feb 5, 2014
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Lazard puts M&A feet firmly in big boys’ camp

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By Antony Currie

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Lazard has put its feet firmly in the big boys’ camp. The advisory and asset management firm didn’t just make progress on financial targets that Chief Executive Ken Jacobs set two years ago. Its bankers also goosed revenue in the second half of the year. That makes Lazard look more like Goldman Sachs, Morgan Stanley and JPMorgan than smaller rivals Evercore and Greenhill.

Jan 24, 2014
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Dimon’s pay represents board’s own whale of a fail

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By Antony Currie

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Jamie Dimon’s bonus represents another whale of a fail for JPMorgan. The board’s decision to give its chairman and chief executive a 73 percent raise, to $20 million, is unjustifiable after last year’s performance. Shareholders should have a loud say against this pay – and lead director Lee Raymond.

    • About Antony

      "Antony Currie has more than a decade of experience as a financial journalist, having worked with Euromoney since 1996, most recently as a U.S. editor. He has worked on assignments in the major financial centers of Europe and the U.S. and written stories on capital markets, global economies and the investment banking industry. He holds a bachelor's degree in German language and literature and a master's degree in politics and international relations from the University of Bristol."
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