Barclays, Goldman Sachs, JPMorgan, Morgan Stanley, Bear Stearns
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In the meantime, Bloomberg reports that Goldman Sachs has raised $1.91bn by selling some of its stake in Industrial & Commercial Bank of China. The firm is said to retain a 4% stake in the bank.
And Reuters reports that JPMorgan Chase confirmed Monday that it is to raise $5bn in common equity, which is the final piece in the jigsaw which will allow the firm to repay its $25bn in TARP borrowing.
Morgan Stanley, too, is to raise $2.2bn in a common stock offering to go towards repayment of its $10bn TARP borrowing.
Finally, The Wall Street Journal reports that former Bear Stearns CEO Alan Schwartz has landed as executive chairman of Guggenheim Partners, a diversified investment firm with over $100bn in assets. Schwartz, who is thought to have had discussions with both Credit Suisse and Goldman Sachs, said: 'Fate has dealt me an opportunity to start from scratch......Now I can make a difference'.
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