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But the divestment of its equity prime brokerage, which it put up for sale in January, is probably the death knell for its institutional equities business.
The move comes as banks are facing regulatory pressure to reduce their exposure to risky businesses, but the divestment of One Equity, which manages $4.5 billion of the bank's money, was not in response to that, according to a person briefed on the matter.
"The move comes as banks are facing regulatory pressure to reduce their exposure to risky businesses, but the divestment of One Equity, which manages $4.5 billion of the bank's money, was not in response to that, according to a person briefed on the matter," DealBook's Peter Lattman reports.
But thanks to earnings growth and the divestment of its private-equity portfolio, its ability to take risks has grown much faster than its actual risk exposure.
There's no offer of equity.
But what about its cost of equity?
The fourth came out of equity trading.
Cost of equity: 15%.
People are terrified of equity.
What explains this massive reabsorption of equity?
Clements got a sliver of equity.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com