David Solomon conceded the firm pushed too quickly to expand as it embarked on one of its biggest rounds of job cuts ever this year

The titan of Wall Street leads investment banks’ move to cut spending as outlook for global financial industry worsens

Managers across firm are expected to start cuts mid week as the company said it is preparing to weather headwinds

Insightful analysis of the main developments in business and politics from our team of writers, including Matt Cooper, Elaine Byrne and Dan O’Brien

The travails of the old titan of Wall Street suggest that investment banking has peaked and that it, and the bank, may soon face a reckoning

Inflated salaries for investment bankers lures talent from sectors that offer wider societal benefit, as well as creating the conditions for the emergence of the next ‘risk-free’ financial scheme to firebomb the global economy

The multinational investment bank is entering the cloud computing business to help asset managers and hedge funds access data faster and easier

The Wall Street behemoth’s Irish office is responsible for investment fund manager duties for the group’s European domiciled funds

Workers at prestigious companies are receiving expensive gifts in thanks for 100-hour work weeks when what they really need is for more staff to be hired

A tough retail environment, including strong competition and the rise of online shopping, awaits but the bank will still expect a return on its investment