Joe Perella, the former top Morgan Stanley banker, wants to emulate his former colleague Bruce Wasserstein, chief executive of Lazard, by floating the investment banking boutique he is planning.

Perella will launch the boutique with fellow former Morgan Stanley banker Terry Meguid and is looking to raise about $1bn (€830m) to fund the venture.

David Rothnie

Morgan Stanley

Lazard

Corporate/Industrial News

Jain Global hires ex-Millennium portfolio manager Gregoire Thomas

Ex-Brevan Howard portfolio manager’s hedge fund opens Sydney office

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Citi veteran Selim Elgen joins JPMorgan’s private bank in Dubai

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Senior private banker heads to new employer after three decades

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Thomas has joined the Hong Kong office of Bobby Jain’s new hedge fund

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Carl Radford’s White Elk Partners will have six people in the Australian city by the end of 2025

The agreement settles claims that the lender facilitated $800 million of payments related to the looting of the Malaysian sovereign-wealth fund.

JPMorgan to Pay $330 Million Over 1MDB Transactions

European business activity continues to prove resilient into the second half of the year, surveys showed, despite the American trade tariffs that have weighed on some companies.

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The Dutch insurer and asset manager has focused on making the U.S. its primary market and a key pillar of its growth strategy in recent years.

Dutch Insurer Aegon Evaluates Relocation to U.S.

The president and his allies accuse Powell of dragging his feet on interest-rate cuts, in a caustic and unprecedented pressure campaign.

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With a new tech leader taking the reins, the bank is looking to double down on high-value AI use cases and iterate quickly when things aren’t working.

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Alpha School, which has locations in Texas, Florida and California, is launching in New York in September.

Bill Ackman’s New Pet Project Is a School That Embraces AI and Rejects DEI

The city’s exchange operator reported record profit and revenue as bullish market sentiment boosted trading.

Hong Kong Regains IPO Crown as Exchange Operator Posts Record Earnings

“Recent trade deals have alleviated, but certainly not eliminated, global uncertainty, which persists on account of the unpredictable policy environment,” Lagarde told a panel on Wednesday.

Europe Should Deepen Ties With Non-U.S. Trade Partners, Lagarde Says

U.S. stock futures started Wednesday lower after a tech-led selloff caused by a report saying the majority of companies investing in generative AI have yet to see returns.

Global Markets Slip Following Tech Selloff

Bill Derrough’s move follows recent leadership changes at Moelis.

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Dominari was new to the finance game when it took office space in Trump Tower. Now it’s a key adviser on the first family’s ventures, from crypto to manufacturing.

By David Uberti | Photographs by Shuran Huang for WSJ 

How an Obscure Firm Bet on the Trumps and Became Their Go-To Dealmaker

Fears of slow sales and tight pricing are weighing on PE stocks.

Private Equity Firms’ Stocks Are Struggling, Despite Getting Into 401(k)s

The group is focused on acquiring businesses operating mainly in the U.K. online pharmacy market.

Vulcan Two Group Seeks AIM Stock Market IPO

The bank said it also received authorization from the Bank of Italy to acquire indirect control of Banca Generali subsidiaries and indirect shareholdings in affiliates.

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S&P Global Ratings expects robust revenues from the Trump administration’s newly instituted tariff regime to help offset the expected fiscal deterioration resulting from recent legislative changes.

S&P Affirms U.S. Credit Rating as Tariff Revenue Expected to Plug Fiscal Leaks

The bank is preparing to move thousands of employees into its new, 2.5-million-square-foot Midtown headquarters.

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Corporate profits are on track for a double-digit climb, led by the tech sector.

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Some firm leaders have shrugged off deals as unenforceable, while at least one has taken on trade work for the administration with no fanfare.

By Erin Mulvaney, C. Ryan Barber and Jess Bravin

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The S&P 500 and the Nasdaq composite both hit closing highs for a second straight session.

U.S. Stocks Amble to Fresh Records on Optimism for a September Rate Cut

The vice president is the most high-profile recent American visitor to the Cotswolds, an idyll that locals say is being disrupted by too many Yanks.

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Tricks of the trade gain new importance as 401(k) accounts open up to alternative investments.

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The bank’s economists had predicted tariffs could cause inflation and slow economic growth.

Trump Calls on Goldman to Replace Economist Over Tariff Stance

Tech execs are paying tens of thousands to find brilliant dates or select high-IQ embryos. “They want to raise high-performing children.”

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A 23-year-old former OpenAI researcher quickly amassed more than $1.5 billion for a firm he called a “brain trust on AI.” 

Billions Flow to New Hedge Funds Focused on AI-Related Bets

Top executives at JPMorgan Chase traveled through states including Mississippi and Alabama, where the bank is expanding its reach.

By Alexander Saeedy | Photographs by Emily Kask for WSJ 

Jamie Dimon Took a Bus Tour Down South. We Rode Along.

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The U.K. central bank lowered its key rate for the fifth time in a year as it seeks to balance a pickup in inflation against a cooling jobs market.

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The private-equity firm’s profit rose amid what its executives called the best environment for selling assets in years.

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The bank’s quarterly net result declined but revenue rose 13% compared with a year ago, and it reaffirmed its capital returns plans.

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Big stock awards have grown much bigger for the chief executives of Palantir and Broadcom, driven by dramatic market gains and, in some cases, complex multipliers.

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