Top stories

  • Vasan heads back to UBS

    Vinod Vasan, who resigned from Deutsche Bank on Wednesday morning, will be returning to UBS.

    • 10 Feb 2016
  • Sharp AT1 turnaround as issuance returns to FIG

    Additional tier one paper rebounded sharply on Wednesday as fears about the risk of coupon deferral subsided and investors— and Goldman Sachs — decided to test the senior market with a short dated issue.

    • 10 Feb 2016
  • Bpifrance prints €500m as market panic calms

    Bpifrance Financement sold a five year €500m bond on Wednesday as a moderate rise in Bund yields suggested calm after a turbulent open to the week.

    • 10 Feb 2016

People and Markets

  • P&M Notebook: CS, DB - where’s the good news?

    If this is what first quarter results are going to be like, count GlobalCapital out. Another bank with a pretty decent set of businesses, and another stonking loss. Credit Suisse appears to have taken after Deutsche in all of the wrong ways.

    • 08 Feb 2016
  • Goldman promotes in primary markets, names levfin head

    Goldman Sachs has named a new head of its EMEA financing group, which houses primary capital markets, as Jim Esposito switches roles to become chief strategy officer of the securities division.

    • 03 Feb 2016
  • Numis pulls out of UK retail bond trading as Orb issuance dwindles

    Numis Securities is pulling out of market making in UK retail bonds and its head of fixed income is leaving the firm, after a period when new issuance of bonds on the London Stock Exchange's Orderbook for Retail Bonds has dwindled.

    • 03 Feb 2016
  • BoE suggests major changes to regulations

    From bonus caps to pre-trade transparency, the Bank of England has suggested big changes to proposed European Union financial regulation in response to a call for evidence from the European Commission.

    • 03 Feb 2016

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Old Money

  • Old Money: UK banks finally losing concentration?

    Britain's banking market is a frenzy of new arrivals and challengers to the old order. The Bank of England even set up a New Banks Unit this week to welcome them all. But for most of history, the trend has run in the opposite direction.

    • 20 Jan 2016
  • Old Money: In the trenches of a currency war

    Currency wars are back in the headlines. First it was Japan’s endeavours to weaken the yen. Then, in August, China’s surprise 3% devaluation of its pegged exchange rate against the dollar, with some analysts predicting an eventual depreciation of 15%-20%. Now the US is raising interest rates while Europe pursues further easing, risking a soaring dollar, wilting euro, and heightened danger of US accusations of currency manipulation.

    • 16 Dec 2015
  • Old Money: US banks — masters of the universal banking model

    Recent weeks have seen an attack of existential angst among Europe’s major banks, on account of the challenges they face from America’s big universal banks.

    • 17 Nov 2015
  • Old Money: 'Tell Sid' — the sequel

    The recent announcement of the sale of £2bn of Lloyds Bank shares to individual investors on special terms has put UK privatisation and widening share ownership back on the agenda.

    • 19 Oct 2015

The GlobalCapital View

  • Ditch-A-Bank

    The sell-off in European banks is terrifying and baffling, all at the same time. GlobalCapital would be first to admit there are still issues — poor growth, weak balance sheets, non-performing loans, defered tax assets, complex forms of untested capital cooked up in regulatory labs – but the continent’s biggest banks aren’t going anywhere. For one thing, they’re still too big to fail.

    • 09 Feb 2016
  • Why Europe needs to find more misselling

    Europe’s banks, with a few notable exceptions, have yet to be hit hard by claims of unethical dealing. But that is likely to change. Thanks to a quirk of the European regulatory system, supervisors need to find some misselling before it is too late.

    • 09 Feb 2016
  • BNPP’s 'revamp' light on detail

    BNP Paribas has impressive targets for cutting costs and increasing capital, after outshining some of its major competitors by posting a full year profit. But it needs to tell a compelling story about how it plans to hit them.

    • 09 Feb 2016
  • Private banking and investment banking: The problem with blurring the boundaries

    It’s been an axiom of recent bank restructurings that more private banking and wealth management is better. Gather the substantial and sticky deposits of the wealthy, harness their investments, and skim fees off the top, using as little balance sheet as possible. Dodge the tax evasion fines, and it’s a good and stable business to be in.

    • 02 Feb 2016

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All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 01 Feb 2016
1 Barclays 32,828.49 74 9.02%
2 Citi 24,327.69 73 6.68%
3 JPMorgan 19,485.37 90 5.35%
4 Bank of America Merrill Lynch 19,402.46 63 5.33%
5 Deutsche Bank 18,951.64 53 5.21%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 09 Feb 2016
1 HSBC 1,012.56 4 6.74%
2 SG Corporate & Investment Banking 1,007.03 4 6.70%
3 Commerzbank Group 875.20 4 5.82%
4 BNP Paribas 826.35 4 5.50%
5 ING 796.36 4 5.30%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 09 Feb 2016
1 UBS 2,173.75 4 24.65%
2 Deutsche Bank 657.35 5 7.45%
3 BNP Paribas 645.21 6 7.32%
4 Goldman Sachs 561.40 6 6.37%
5 Bank of America Merrill Lynch 542.61 4 6.15%