Vanni Personal Blog

Global bank HSBC Holdings is cutting 1,100 jobs in its investment banking operation, or 4 percent of the unit’s total, as it weathers the global financial crisis.
“We’re doing it because of market conditions and the economic environment, and our cautious outlook for 2009,” Hong Kong-based spokesman Gareth Hewett told Reuters on Friday.
HSBC’s Hong Kong-listed shares rose 0.7 percent on Friday, outperforming a weaker broader market, while its London-listed shares were…

JPMorgan Chase & Co. (NYSE: JPM) is one of the oldest operating financial services firms in the world. The company, headquartered in New York City, is a leader in investment banking, financial services, asset and wealth management and private equity. With assets of $1.8 trillion, JPMorgan Chase is currently the second largest banking institution in the United States,[3] behind Citigroup. The hedge fund unit of JPMorgan Chase is the largest…

Washington Mutual was founded as theWashington National Building Loan and Investment Association on September 25,1889, in an attempt to save Seattle’s economy[citation needed] after a fire nearly destroyed the city. The newly formed company made its first home mortgage loan on the West Coast on February 10, 1890. Its name was changed to Washington Savings and Loan Association on June 25, 1908. During World War I, its assets expanded by…

After Lehman Brothers failed, Washington Mutual, the giant lender that came to symbolize the excesses of the mortgage boom, was seized by federal regulators on Thursday night, in what is by far the largest bank failure in American history.
Regulators simultaneously brokered an emergency sale of virtually all of Washington Mutual, the nation’s largest savings and loan, to JPMorgan Chase for $1.9 billion, averting another potentially huge taxpayer bill for the rescue…