Cantor Fitzgerald experiences a shift, as indicated by news from Osigus.
In a significant shift in the European banking sector, Hauck Aufhäuser Lampe Privatbank (HAL) has been acquired by Dutch bank ABN Amro. The acquisition, however, does not seem to be directly related to the move of a team of bankers from HAL to a U.S. firm, as reported by Bloomberg News in June.
One of the key figures leaving HAL is Marc Osigus, who has announced his move to U.S. firm Cantor Fitzgerald. According to his verified LinkedIn account, Osigus is now the Head of Investment Banking for Continental Europe at Cantor Fitzgerald. However, the specifics about his successor at HAL are unclear.
Cantor Fitzgerald, headquartered in New York, has not yet commented on Osigus's move, according to reports by Bloomberg News. This move comes after Howard Lutnick, who led Cantor Fitzgerald for decades, stepped down to become the U.S. Trade Minister this year.
ABN Amro expects to achieve annual cost and revenue synergies of at least €60 million before taxes from 2028. The synergies from the HAL acquisition are expected to be realized by this date. However, these synergies are not directly related to Osigus's move to Cantor Fitzgerald.
It is also unclear if the acquisition will result in job cuts. The specifics regarding potential job cuts are not currently available. Cantor Fitzgerald's headquarters is not specified to be in Continental Europe, making Osigus's move an interesting development in the transatlantic banking landscape.
In conclusion, the moves of Marc Osigus to Cantor Fitzgerald and the acquisition of HAL by ABN Amro are separate but significant events in the banking industry. The synergies from the acquisition are expected to be realised by 2028, while the impact of Osigus's move on Cantor Fitzgerald and the potential job cuts from the acquisition remain to be seen.
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