First Citizens-CIT merger closes; GCA deal 'fantastic opportunity' for Houlihan

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First Citizens completes merger with CIT Group

Raleigh, N.C.-based First Citizens BancShares Inc., the parent company of First-Citizens Bank & Trust Co., finally completed its all-stock merger of equals with New York-based CIT Group Inc. after some delay.

GCA acquisition serves as 'fantastic opportunity' for Houlihan Lokey

Houlihan Lokey Inc. completed its integration of GCA Corp. in early December 2021, officially sealing a record-setting acquisition for the company that has formed "an incredibly powerful combination for our clients," Houlihan Lokey co-President Scott Adelson said in an interview.

3 sustainability trends for European bankers to watch in 2022

Considerations about climate and the environment are becoming increasingly important in every banker's day-to-day work. This focus will only intensify in 2022 as lenders, regulators and stakeholders step up their sustainability efforts and seek to bring long-term pledges to fruition.

State Farm, Allstate hike homeowners rates in November 2021

Top 20 European banks by market cap, Q4'21

Top 20 MEA banks by market cap, Q4'21

More highlights

* U.S. courts can have jurisdiction over 16 global banks, including JPMorgan Chase & Co., Citigroup Inc. and Swiss lender UBS Group AG, in a conspiracy case investors lodged against them for allegedly manipulating the London interbank offered rate, Bloomberg News reported, citing a Dec. 30, 2021, ruling by the federal appeals court in New York.

* Bank stocks were getting a big, broad boost on Jan. 4 with Treasury yields rallying for a second-straight day as fears that the spike of the omicron variant of the coronavirus will hurt the economy continued to fade, MarketWatch reported.

* CI Financial Corp. completed the acquisitions of four registered investment firms by Dec. 31, 2021, boosting the assets of its U.S. CI Private Wealth business by about $24 billion.

Chart of the day

S&P Global Market Intelligence presents a periodic summary of potential deal activity in the financial sector, including rumored transactions. Citizens Financial Group Inc. is eyeing M&A to build scale in its wealth management business, while the Canada Pension Plan Investment Board is reportedly preparing to launch a sale process for Wilton Re Ltd. and Ascot Group Ltd. in 2022.

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HEYDUDE, buybacks and acquisition debt