Bank chiefs bow to ringfencing but warn of unintended consequences

Chief executives of the UK’s largest banks on Tuesday accepted that the separation of banks’ retail operations from their investment banking entities was a “done deal”, although some warned that the move would pass extra costs onto consumers.

  • 12 Oct 2011

Answering questions from the House of Lords Economic Affairs committee on Tuesday afternoon, Stephen Hester, CEO of Royal Bank of Scotland, said that ringfencing measures proposed in the Independent Commission for Banking’s Vickers report carried “significant additional costs [that] will not be balanced by their benefits”.

He added ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 15 Aug 2017
1 HSBC 8,472.52 36 6.37%
2 Commerzbank Group 6,654.93 41 5.00%
3 BNP Paribas 6,477.17 27 4.87%
4 UniCredit 6,430.25 52 4.84%
5 LBBW 6,140.56 29 4.62%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 14 Aug 2017
1 Morgan Stanley 75,952.72 282 7.54%
2 Goldman Sachs 66,497.12 334 6.61%
3 Bank of America Merrill Lynch 65,883.47 240 6.54%
4 Citi 63,534.14 368 6.31%
5 JPMorgan 61,805.38 292 6.14%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 15 Aug 2017
1 Morgan Stanley 57,872.19 205 10.77%
2 Citi 55,692.96 290 10.36%
3 Bank of America Merrill Lynch 53,031.38 203 9.87%
4 JPMorgan 51,094.81 223 9.51%
5 Goldman Sachs 51,087.97 275 9.50%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 15 Aug 2017
1 LBBW 5,014.64 17 7.61%
2 SG Corporate & Investment Banking 4,741.46 19 7.19%
3 BNP Paribas 4,566.36 14 6.93%
4 Credit Agricole CIB 4,553.92 17 6.91%
5 Commerzbank Group 4,066.97 16 6.17%

Global FIG Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 02 May 2016
1 Morgan Stanley 365.83 497 7.62%
2 JPMorgan 332.66 618 6.92%
3 Bank of America Merrill Lynch 299.89 590 6.24%
4 Goldman Sachs 276.71 375 5.76%
5 Citi 264.54 592 5.51%

Bookrunners of European Subordinated FIG

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 15 Aug 2017
1 JPMorgan 1,146.87 54 26.19%
2 Citi 623.93 16 14.25%
3 TD Securities Inc 524.39 8 11.98%
4 Deutsche Bank 499.78 5 11.41%
5 Nomura 360.08 7 8.22%