The chief executives of Goldman Sachs and Morgan Stanley said they were seeing “green shoots” in their struggling investment banking businesses, which implemented large-scale dismissals as higher interest rates damped activity.
Wall Street firms are suffering through one of the leanest periods in years even by the standards of the feast-to-famine nature of investment banking, with a dearth of capital markets activity and deals as would-be buyers and sellers struggle to agree on price.
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