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  • Telling a bonus from a ‘retention award’

    Deutsche Bank’s latest wheeze to pay its best and brightest might look like a crafty sleight of hand typical of weaselly bankers. But having announced a pared-back bonus pool just a few weeks ago, it transpires the firm has ear-marked extra dosh to make up for it. Under the hair shirt was a silk vest all along, one might think. However, Deutsche has no choice but to pay the market rate for staff if it is to deliver any return to shareholders.

    • 21 Mar 2017

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GlobalCapital Leader

  • US government cannot walk the Trump talk

    Wall Street workers hoping for a regulatory sea change under president Donald Trump need to adjust their expectations, as empty posts at all levels of government are set to hinder lasting reform.

    • 23 Mar 2017
  • Money for nothing: passive bookrunners are the least-bad solution

    Investment banking is rich in situations that seem ridiculous. The existence of passive bookrunners — banks paid fees for doing no work — is a prime example, but it’s the least-bad compromise in a difficult balancing act.

    • 23 Mar 2017

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Southpaw

Southpaw logo
by David Rothnie

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Old Money

by Prof Richard Roberts 
  • Old Money: Swiss banking to rescue for 'accident prone' CS

    Kaleidoscopic corporate restructurings have long been a feature at Credit Suisse. There appear to have been three drivers – geographical balance, shuffling the deck in its investment banking activities and a noted propensity for being accident prone.

    • 08 Mar 2017

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Clawback


by Philippe Espinasse
  • Heaven can wait

    The CEO of HKEX may be keen for Saudi Aramco to list in Hong Kong but as our columnist Clawback explains, there are more reasons for the Saudi oil giant to bypass the city’s exchange than to pick it for a listing.

    • 07 Mar 2017

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P&M Notebook

  • P&M Notebook: big name, small deal

    Even a publishing house could, at a push, bid for a broker the size of Panmure Gordon, whose profits, at around £400,000 a year, certainly aren’t setting the City alight. But it’s the return of Bob Diamond, the former Barclays boss, which has set the broadsheets buzzing.

    • 20 Mar 2017

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The FIG Idea

  • The FIG Idea: Dear Santa

    What's on a bank CFO's Christmas list

    • 15 Dec 2016
  • The FIG Idea: stress to impress

    On the surface, stress tests seem arcane and disconnected from reality. Perhaps they are, but they’re an increasingly important tool for bank regulators around the world.

    • 01 Dec 2016
  • The FIG Idea: Five ways equity analysts could do better

    Bank stocks are up 50% from their 2009 lows, but down 30% since a year ago and down 70% from their all-time highs in early 2007. Many equity investors from a decade ago lost their shirt in the banks sector. They can blame macroeconomic shifts for some of this price volatility. But a lot of it is because "the market" doesn't do a great job valuing bank stocks.

    • 29 Jun 2016
  • The FIG Idea: Capital Chaos

    Today’s capital regime for banks is the result of compromise and incrementalism. Hardly a surprise, but the result is unworkable. CFA-qualified, brain-on-a-stick analysts will breeze through a series of 3D Sudoku puzzles, yet struggle to understand the capital situation of a bank.

    • 05 May 2016

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MTN Leak Table

  • MTN Leak: the art of Morgan Stanley

    We’re not sure whether things are too quiet in the market at the moment, but Morgan Stanley bankers are dabbling in a spot of moonlighting — as art experts, no less.

    • 23 Mar 2017
  • MTN Leak: spinning a story

    Congratulations are in order to the valorous, selfless, sweaty efforts of some of the City’s syndicate bankers for the Spread a Smile charity last week.

    • 16 Mar 2017
  • MTN Leak: the chamber of secrets

    From the second floor of an Art Deco building with a view of the City skyline, to a steampunk themed underground warehouse in East London— it most certainly has been a busy week of mingling for Leak.

    • 09 Mar 2017
  • MTN Leak: to infinity, and beyond!

    Leak’s social calendar has always been a colourful place, with plenty of unusual entries. This week, however, brought an invitation that sets a new standard for bizarre business trips.

    • 02 Mar 2017

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The Pained Trader

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All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 13 Mar 2017
1 JPMorgan 94,925.33 384 8.39%
2 Citi 87,531.58 331 7.74%
3 Bank of America Merrill Lynch 84,341.49 288 7.46%
4 Barclays 75,288.19 241 6.66%
5 Goldman Sachs 68,504.71 208 6.06%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 14 Mar 2017
1 Bank of America Merrill Lynch 10,650.87 23 11.13%
2 Deutsche Bank 8,169.49 17 8.53%
3 HSBC 6,243.46 23 6.52%
4 Citi 4,355.35 13 4.55%
5 SG Corporate & Investment Banking 4,273.37 17 4.46%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 21 Mar 2017
1 JPMorgan 5,440.56 17 10.74%
2 Deutsche Bank 4,468.97 23 8.82%
3 UBS 3,742.72 17 7.39%
4 Citi 3,393.89 23 6.70%
5 Goldman Sachs 3,360.93 18 6.63%