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  • ANZ hires head of European debt capital markets

    ANZ has hired a banker from RBC Capital Markets as its new head of debt capital markets in Europe.

    • 27 Jan 2015
  • Revived transaction tax could collapse on legal issues

    The revived attempt to pass a financial transaction tax in Europe could end up caught between a rock and a hard place — a relief for market participants which have seen the tax as yet another potential restriction on trading businesses grappling with a raft of other regulatory burdens.

    • 27 Jan 2015
  • SocGen takes 11 from RBS for new CMBS platform

    GlobalCapital can reveal the names of at least 10 bankers that Société Générale has transplanted from Royal Bank of Scotland's withering stateside headquarters to run a new CMBS platform at the French bank, its first in the US since the financial crisis.

    • 27 Jan 2015
  • Italy and Spain break records at short term auctions

    Italy and Spain showcased what can be achieved in the new world of eurozone sovereign quantitative easing, as they hit record low yields at their first auctions since the European Central Bank announced its QE programme last week. With two more days of auctions ahead of it, Italy could break even more records this week.

    • 27 Jan 2015

People and Markets

  • RMBS and ABS head takes over CLOs after Deutsche trading exodus

    Deutsche Bank’s head of non-agency RMBS and consumer ABS trading has taken over CLO trading after the departure of Richard Rizzo last week. People familiar with the situation at the bank, which just priced its first US CLO of the year, say it is still fully committed to the business, but some investors are sceptical.

    • 28 Jan 2015
  • Deutsche loses FX trading bigwig

    Benoy Raveendran, head of options, exotics and cross-currency swaps trading at Deutsche Bank in London, has left the firm.

    • 28 Jan 2015
  • BNP Paribas puts senior syndicate and DCM bankers at risk

    BNP Paribas has placed several senior syndicate and DCM bankers — all involved in the firm's SSA business — at risk, GlobalCapital understands.

    • 28 Jan 2015
  • SocGen takes 11 from RBS for new CMBS platform

    GlobalCapital can reveal the names of at least 10 bankers that Société Générale has transplanted from Royal Bank of Scotland's withering stateside headquarters to run a new CMBS platform at the French bank, its first in the US since the financial crisis.

    • 27 Jan 2015

GlobalCapital View

  • Troika needs to soften its stance on Greece – it isn’t working

    A lot of ink has been spilt over the moral hazard of allowing Greece to restructure its €240bn in Troika debt with haircuts. But seeing Greece's struggle with debt as an essentially moral problem leads to a stubbornness that precludes pragmatism.

  • The EFSI is a force for good – but cannot cure infrastructure’s biggest blockage

    The European Commission’s ‘Juncker Plan’ to boost investment by €315bn is welcome. Scepticism that it cannot work because it only has €21bn of capital is unwarranted. The European Investment Bank is putting its shoulder to the wheel, and should not be underestimated. But don’t expect this to solve Europe’s infrastructure investment problems. Money is not the problem. The real obstacle is government indecision about what infrastructure it wants, and how investors will make a return.

  • Finding alpha in high grade bonds? NIP it in the bud

    JP Morgan’s investor survey found 19% of high grade investors think new issue premium is the best source of alpha in the year ahead. With yields on the floor, it makes sense, but it is sign of a deep malaise in the fixed income market.

  • The Yanks are coming! US issuers will muscle out Asian names in euros

    Asian investment grade bond issuers have made their presence felt in the euro market in recent years as they seek diversification. With the European Central Bank’s quantitative easing programme set to lower rates, now would seem the be the ideal opportunity for more Asian names to target eurozone investors. But with US large caps also eyeing euros, Asian credits are likely to get pushed aside.

  • ECB must slow covered bond purchases or risk the market’s longer term damage

    Faced with shrinking yields, covered bond investors have been deserting the market. Unless the ECB moves out of the way and switches to sovereign purchases fast, there is a real risk that these buyers will not be there when the extraordinary stimulus measures now being delivered are taken away.

  • UBS will pay 2014 bonuses in AT1

    UBS said it would pay part of its 2014 bonus pool in additional tier one (AT1) capital, following two previous years of paying bonuses in tier two. It plans to issue around Sfr2.5bn ($2.9bn) in AT1 to its employees over the next five years.

    • 23 Jan 2015
  • Putt departs Al Rajhi Capital

    Simon Putt has left Saudi Arabian Al Rajhi Capital where he had been head of DCM since April last year.

    • 23 Jan 2015
  • BNP Paribas inches toward levfin-high yield merger

    BNP Paribas is preparing a reorganisation of its leveraged finance and high yield teams, as part of the reordering of its corporate and institutional bank that has taken place since Yann Gérardin took over as its head in October. Market participants believe some job cuts are possible.

    • 22 Jan 2015
  • CVC hires top ING banker to lead Dutch drive

    CVC has hired Ivo Lurvink as a partner in its Amsterdam office, where he will head the private equity firm’s Dutch operations.

    • 26 Jan 2015

Southpaw

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Global IB Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 19 Jan 2015
1 JPMorgan 175.60 105 7.99%
2 Goldman Sachs 175.01 80 7.97%
3 Bank of America Merrill Lynch 159.92 84 7.28%
4 Citi 146.93 98 6.69%
5 Deutsche Bank 107.22 92 4.88%

Global M&A Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 26 Jan 2015
1 Goldman Sachs 155.66 29 14.55%
2 JPMorgan 110.10 26 10.29%
3 Bank of America Merrill Lynch 93.09 22 8.70%
4 Morgan Stanley 75.45 23 7.05%
5 Citi 70.09 20 6.55%

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 26 Jan 2015
1 Barclays 28,419.66 77 8.76%
2 JPMorgan 26,688.86 72 8.23%
3 Citi 24,028.42 64 7.41%
4 HSBC 21,259.01 74 6.55%
5 Morgan Stanley 19,362.83 50 5.97%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Jan 2015
1 JPMorgan 7,654.17 3 47.87%
2 Credit Agricole CIB 2,846.92 3 17.81%
3 Deutsche Bank 508.74 2 3.18%
3 Commerzbank Group 508.74 2 3.18%
5 Santander 452.07 2 2.83%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Jan 2015
1 Goldman Sachs 4,919.26 4 36.34%
2 UBS 4,591.38 3 33.91%
3 Morgan Stanley 730.09 7 5.39%
4 Citi 569.24 4 4.20%
5 Liberum Capital Ltd 454.08 4 3.35%