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Lightspeed’s Mignano Joins Union Square Ventures to Make AI Bets

Lightspeed Venture Partners investor Michael Mignano, notable for bets on consumer-facing artificial intelligence companies, is leaving the firm to join New York-based Union Square Ventures.

By Rebecca Torrence and Natasha Mascarenhas

Citi Logs Best Returns in Five Years as Revamp Takes Hold

Citigroup Inc. traders rode a wave of volatility to push the Wall Street bank to its highest quarterly revenue in a decade, notching another success for Chief Executive Officer Jane Fraser’s turnaround plan.

Finance Executives Set High Bar as Outside Auditors Turn to AI

Finance leaders expect their auditors, now armed with increasingly complex artificial intelligence tools, to dig deeper into business risks and better translate how they reach their findings, a new survey suggests.

Wells Fargo Reports $36.2 Billion of Private-Credit Exposure

Wells Fargo & Co.said its exposure to private-credit firms was roughly $36.2 billion in the first quarter, offering details on a category closely watched by investors.

Deutsche Börse Buys $200 Million Stake In Crypto Firm Kraken

Deutsche Börse AG invested $200 million in Payward Inc., the parent of crypto trading platform Kraken, as the Frankfurt stock exchange operator moves to offer access to a wider array of securities over blockchain rails.

JPMorgan Traders Blow Past Expectations With Record Haul

JPMorgan Chase & Co.’s traders posted their highest-ever quarterly revenue in the first three months of the year, with record stock-trading results boosting the total past the firm’s previous record by almost $2 billion.

Wells Fargo Misses Loan, Fee Estimates Amid Lower Interest Rates

Wells Fargo & Co. missed analysts’ estimates for its primary income streams in the first quarter even as the banking industry saw the biggest jump in corporate borrowing in more than three years.

HSBC’s Top Wall Street, Europe Banker Keefe Quits After Overhaul

HSBC Holdings Plc’s head of US and European commercial and investment banking has left the firm just over a year after being put in charge of the business, following a major overhaul of global operations.

Goldman, Ardian Bought CIC’s $1 Billion US Private Equity Stake

Goldman Sachs Group Inc. and Ardian SAS were on the other side of a $1 billion US private equity sale by China’s sovereign wealth fund, according to people familiar with the matter.

Pakistan Weighs ‘All Options’ to Sustain Reserves After UAE Move

Pakistan is considering financing from both countries and banks as options to help maintain foreign-exchange reserve levels amid soaring oil prices, Finance Minister Muhammad Aurangzeb said, after the United Arab Emirates asked for the full repayment of a $3 billion loan.