French BrokerDealers In Drivers Seat With Europcar IPO

Posted on June 17, 2015 by admin

Brokerdealer.com profiles that Europcar, a French rental car company, said on Monday that it planned to sell 854.5 million euros, or about $963 million, in shares in an initial public offering in Paris this month.

Europcar said it hoped to price its shares between €11.50 and €15 and to begin unrestricted trading on the Euronext exchange on June 26. The company announced in May that it was seeking permission from regulators to pursue an I.P.O.

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Europcar expects to sell shares to institutional investors internationally and in France, and to retail investors in France. If there is sufficient interest, a minimum of 10 percent of the offering will be sold to retail investors, it said.

Deutsche Bank AG, Goldman Sachs Group Inc. and Societe Generale SA are among the banks managing the IPO.

To find out more, read this Bloomberg article.

Any Grads Want to Join a BrokerDealer? These Banks Want You!

Posted on June 16, 2015June 16, 2015 by admin

If you or your college grad who you just financed 4 years of college for has yet to secure that sought-after Wall Street job, Brokerdealer.com profiles 9 different types of people that Goldman Sachs, J.P. Morgan and Morgan Stanley are looking to hire at this point in the year. Here is what efinancialcareers.com said:

1. Goldman Sachs wants private wealth management and fund management professionals

2. Sachs wants technology professionals in Warsaw

3. Sachs wants derivatives clearing professionals in London and Warsaw

4. J.P. Morgan wants ‘client rationalization’ professionals in London

5. Morgan wants associates for its London investment banking team in London

Looking for a brokerdealer to submit your resume to?

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6. J.P. Morgan wants someone to join a new team working on ‘VaR methodology’ in London

7. Morgan Stanley wants a cyber intelligence analyst in Glasgow

8. Stanley wants over the counter collateral analysts in Glasgow

9. Morgan Stanley wants top university graduates for glorified data monitoring and presentation roles

If you’re interested in getting into contact with one of these broker dealers, click here. BrokerDealer.com provides a global database of broker-dealers registered in the US as well as those performing brokerdealer services in upwards of 30 major countries throughout the world. -

Goldman Gets Gritty: Silicon Valley-Style Scheme To Extend Online Consumer Loans

Posted on June 16, 2015 by admin

The world’s most famous brokerdealer and investment bank is breaking from its long tradition of serving only the biggest with the most bucks and according to the NYT, is plotting to launch an online consumer lending business.

Soon, Goldman will offer loans online to both consumers and to small businesses as it looks to tap into a marketplace worth nearly $850 billion. The new unit will offer the loans through a website or an app — functioning like a virtual bank in one of the oldest companies on Wall Street. Without the costs of bank branches and tellers, Goldman can lend the money at lower interest rates while still making a profit. The company hopes to be ready to make its first loans next year.

It’s a big change for Goldman’s business model — before, the only people who could obtain a loan from the bank were its high-net-worth clients.

Goldman can establish a consumer lending business now because it converted from being an investment bank into a bank holding company during the financial crisis. It also allowed Goldman the opportunity to interact more directly with consumers.

Goldman Sachs did not comment when asked about their business plan explored by this New York Times’ story.

Broker Dealer Firm Acquires The Producers Choice In A Move That Will Boost Control Over Annuities

Posted on June 1, 2015May 31, 2015 by admin

Brokerdealer.com blog update profile broker dealer firm, Raymond James Financial Inc, making big moves in the industry as it announced Friday, that it would acquireing The Producers Choice. This move made Friday will help the broker dealer firm gain greater control over the way annuities are wholesaled to advisers. This brokerdealer.com blog update is courtesy of InvestmentNews’ article, “Raymond James bolsters indexed annuities and life wholesaling with acquisition“, by Darla Mercado. With an excerpt from the article below.

Looking to step up its indexed annuities and life wholesaling game, Raymond James Financial Inc. announced Friday it would acquire The Producers Choice, an insurance marketing organization.

The deal is expected to close mid-summer, and Producers Choice will act as part of Raymond James Insurance Group. Sixty Producers Choice employees will join the firm.

The acquisition addresses two major objectives for Raymond James, which has partnered with Producers Choice for nine years: It gives the broker-dealer greater control over the way annuities are wholesaled and marketed to Raymond James’ advisers, and the firm will have the opportunity to work with Producers Choice’s client base of independent insurance agents, broker-dealers and banks.

To continue reading about Raymond James acquistion of The Producers Choice from InvestmentNews, click here.

Finra Focuses On Educational Communication With Investors In New Compensation Proposal

Posted on May 29, 2015May 28, 2015 by admin

Brokerdealer.com blog update profiles a new proposal from Finra that has educating investors as their main focus. This proposal is a revised version of the one Finra filed last spring with the SEC. In the previous filing, brokers would have required brokers to disclose to investors recruiting incentives above $100,000 they received for switching to a new firm. This new proposal requires firms to send “educational communication” to investors when a broker moves to that firm. This educational communication proposal is drawing a lot of backlash as critics believe it watered down the original idea for compensation disclosures. This brokerdealer.com blog update is courtesy of InvestmentNews’ Mark Schoeff Jr. and his article, “Finra releases revised broker compensation proposal“.

Finra released a revised proposal Wednesday for a rule designed to help investors understand the financial incentives their brokers had for switching to a new firm.

Under the rule, brokerages would have to send an “educational communication” to investors working with a broker who is moving to their firm. The document customers receive would outline questions they should ask their broker about the compensation and other inducements the broker is getting to transfer to the new firm.

The questions would help investors determine whether the broker’s financial incentives create a conflict of interest and whether investors would incur costs by following the broker to a new firm.

The broker-compensation proposal is a revised version of one the Financial Industry Regulatory Authority Inc. filed with the Securities and Exchange Commission in March 2014 but later withdrew amid industry resistance.

To continue reading about this investor educational communication focused Finra proposal, click here.