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![Start-ups move into banks’ natural habitat](/web/20140125115825im_/http://www.afr.com/rw/2009-2014/AFR/2014/01/24/Photos/9b50ea54-84a2-11e3-862b-a46835d9da41_genericsuit--646x363.jpg)
Start-ups move into banks’ natural habitat
At this week’s World Economic Forum in Davos, international consulting firm Oliver Wyman launched its 17th annual report on the state of the financial services industry.
![Is it time for BlackRock to reconsider Blackstone?](/web/20140125115825im_/http://www.afr.com/rf/image/2009-2014/AFR/2014/01/23/Photos/9e6bbbd6-8486-11e3-862b-a46835d9da41_syd-5ya9xb40kgw14n8x4n5c--U6113630902790iE-401x320_6_1_1388454710-468--236x160.jpg)
Is it time for BlackRock to reconsider Blackstone?
Jeffrey Goldfarb | Blackstone’s assets under management are only 6 per cent of BlackRock’s, yet it probably generated the same amount of profit last year. That has to make private equity tempting for BlackRock.
A first step to ESS tax relief for start-ups
The start-up and venture capital industries are hoping a government consultation on employee share scheme laws will result in tax changes that will encourage entrepreneurs to work in Australian technology companies.
![Lion has no plans to sell Warrnambool stake](/web/20140125115825im_/http://www.afr.com/rf/image/2009-2014/AFR/2014/01/24/Photos/60b123c2-84a3-11e3-862b-a46835d9da41_syd-6ayyzzbtzbsgrbhh7mp--236x160.jpg)
Lion has no plans to sell Warrnambool stake
Lion, owned by Japanese dairy and beer giant Kirin, says it has ‘no current intention’ to sell its 10 per cent stake in Victorian dairy processor Warrnambool Cheese & Butter.
![JPMorgan bankers learn there’s no bonus this year](/web/20140125115825im_/http://www.afr.com/rf/image/2009-2014/AFR/2014/01/22/Photos/fc592598-83ba-11e3-8720-dd1b380f38aa_jpmorgan--236x160.jpg)
JPMorgan bankers learn there’s no bonus this year
JPMorgan Chase is telling employees this week about their 2013 bonuses, and most workers are not getting pay increases for the year thanks to the bank’s massive legal bills, an insider said.
![Stars start to align for Macquarie’s Moore](/web/20140125115825im_/http://www.afr.com/rf/image/2009-2014/AFR/2014/01/22/Photos/32309d20-838b-11e3-8720-dd1b380f38aa_syd-6cd5d9cwstwspxt4niv-465--236x160.jpg)
Stars start to align for Macquarie’s Moore
Expect a rather ebullient Nicholas Moore, Macquarie Group’s chief executive, when he gives an operational briefing on February 11.
Aussie shares shaky in '14
The dollar's falling, but shorting our stock market is still UBS's favourite play, with better opportunities overseas.
M&A
Pos | Name | Value ($m) | No | % share |
1 | Gresham Partners Group Ltd | 408 | 1 | 16.7 |
1 | Goldman Sachs | 408 | 1 | 16.7 |
3 | Leonardo & Co | 190 | 1 | 7.8 |
ECM
Pos | Name | Value ($m) | No | % share |
1 | UBS | 89 | 1 | 34.0 |
2 | RBC Capital Markets | 88 | 1 | 33.4 |
3 | Morgans Financial Ltd | 47 | 1 | 17.8 |
DCM
Pos | Name | Value ($m) | No | % share |
1 | RBC Capital Markets | 590 | 5 | 16.0 |
2 | ANZ | 489 | 4 | 13.3 |
3 | TD Securities Inc | 474 | 4 | 12.9 |
Syndicated Loans
Pos | Name | Value ($m) | No | % share |
1 | ANZ | 333 | 1 | 100.0 |
Subtotal | 333 | 1 | 100.0 | |
Total | 333 | 1 | 100.0 |
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JPMorgan, Deutsche extend chatroom bans: sources
![JPMorgan, Deutsche extend chatroom bans: sources](/web/20140125115825im_/http://www.afr.com/rf/image_lowres/2009-2014/AFR/2013/12/04/Photos/91b8466e-5d0a-11e3-abb3-feb2652556ec_2013-12-04T110928Z_65141173--90x60.jpg)
JPMorgan Chase and Deutsche Bank are extending bans on the use of multi-dealer online chatrooms, sources say, as banks crack down on potentially inappropriate communications.
Lloyds Bank appoints Blackwell new chairman
![Lloyds Bank appoints Blackwell new chairman](/web/20140125115825im_/http://www.afr.com/rf/image_lowres/2009-2014/AFR/2013/12/19/Photos/f7b6b3f2-68ad-11e3-ab09-064154fb3297_lloydsbanklimited--180x120_6_0_3085500935--90x60.jpg)
The Lloyds Banking Group said that Norman Blackwell would become its chairman next year, succeeding Winfried Bischoff, who is scheduled to retire in April.
![](/web/20140125115825im_/http://www.afr.com/rw/Capital/Web/Library/Editorial/Logos/equity_debt_markets.png)
Block trades hit five-year high
Few deals are riskier for equity capital markets bankers than a block trade. But with placements thin on the ground this year, block trades were the main game for firms to dominate the all-important league tables
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