Strategic revamp delays profitability, carries execution risk
Financial institutions well positioned to weather declining credit quality, Fitch says
Hwang owned a New York–based hedge fund that collapsed when it defaulted on margin calls
Alongside Manulife Securities getting a new president and CEO, other shifts occurred
Changes include clearer requirements for dealers to conduct investigations
Operating conditions are set to improve alongside growth and rising rates
Sector faces competitive and regulatory headwinds, even as recovery solidifies, Fitch says
Average monthly revenues down, expenses up since Covid-19 hit
Strong market-based activities will underpin earnings at large global firms
The addition comes as the firm seeks a tie-up with RF Capital