Securities-trading firms in New York City — the actual Wall Street institutions — appear to be sailing to a “dramatic” increase in profits for 2024 and that could mean bigger bonuses next year, according to an annual report from the Office of the New York State Comptroller (OSC) headed by Thomas P. DiNapoli. “Wall Street’s… Read More >>
Firms in NY State Brace for Cyberattacks
Today’s top headlines are about deadly shooting wars — in Israel, in Ukraine, and in far too many other places on the map. What will happen next is not known. But for financial services firms, the question of the day (and perhaps of the decade) is this: How do you secure the financial services industry,… Read More >>
War, Interest Rates & Inflation Shrank Wall Street Bonuses
If you hear a few roars emanating from Wall Street towers, they are most likely about the decline in cash bonuses for 2022. Thomas P. DiNapoli, the comptroller for the state of New York, has just released his annual estimate for Wall Street bonuses and they have dropped by an average of 26 percent because… Read More >>
Wall Street Mulls Key Pandemic Post-Trade Lessons
Some observers on Wall Street are saying that the global pandemic may be heading toward an end phase. I hesitate to agree with that prediction given the many unexpected riptides that the potentially fatal COVID-19 virus has imposed upon the world since its onset in 2020 (or even sooner). So, while we hope that the… Read More >>
Wall Street Firms Show Resilience Amid the Pandemic
Securities trading firms in New York City have been doing well for the past 18 months despite the multiple challenges caused by a global pandemic, the ongoing market volatility, and the loss of 3,600 jobs, says New York State Comptroller Thomas P. DiNapoli in his annual report on firms that constitute Wall Street. “Wall Street’s… Read More >>
Wall Street Bonuses Down for 2018: DiNapoli Report
2018 was a good year for the Wall Street securities industry, but that wasn’t reflected in the average bonuses paid out to the industry’s employees in New York City. That’s the word from New York State Comptroller Thomas P. DiNapoli, who unveiled his annual estimate of lagniappes paid out during the traditional bonus season to… Read More >>
Wall Street Profits & Salaries Heading Upward for 2018
Securities trading firms based in New York City had pretax profits that reached $13.7 billion during the first half of 2018, representing an 11 percent jump over the same period last year, reports New York State Comptroller Thomas P. DiNapoli. The rise in profits follows a pattern as last year pretax profits “rose by 42… Read More >>
Wall Street Bonuses Propelled Skyward by 2017 Profits
Wall Street’s profits and thus bonuses for last year took a dramatic upswing, but the return of market volatility and an overhauled federal tax code might yield very different results for 2018. “The growth in the bonus pool likely benefitted from changes in the federal tax code that eliminates the corporate deduction for performance-based… Read More >>
