• P&M Notebook: fill your Basel glass half full

    The Basel Committee’s meeting this week looks like a victory for the industry. But Deutsche Bank has plenty of other things to worry about.

    • 19 Sep 2016
  • P&M Notebook: The bid is back

    Much like the markets themselves, the bid for bankers seems to have roared to life in September, with newly abundant movement in the senior ranks. Much of it is internal, which will provide little comfort to the headhunters, but there’s some hiring action as well.

    • 09 Sep 2016
  • P&M Notebook: Holiday slumber

    JP Morgan announces an exciting new initiative — but everyone who knows what it’s about is on holiday.

    • 19 Aug 2016
  • P&M Notebook: solving the Miz-stery

    Mizuho's FIG expansion is back on track.

    • 15 Aug 2016
  • P&M Notebook: HSBC's new boss

    GlobalCapital has never worked for Matthew Westerman, but when a new boss comes in, the same sorts of things happen everywhere.

    • 07 Aug 2016
  • P&M Notebook: Keep smiling

    After what feels like forever, investment banks are starting to report numbers that look a little less dreadful. Except Deutsche Bank, obviously.

    • 01 Aug 2016
  • P&M Notebook: Banks make money when things happen

    Has everyone overdone the hand-wringing about the future of the fixed income trading business? The investment banks that reported results this week all managed decent numbers in their bonds and currencies businesses, thanks to record volumes associated with the UK referendum on membership of the European Union.

    • 22 Jul 2016
  • P&M Notebook: What are you going to do about Brexit?

    Results season kicks off, and the market is desperate for Brexit wisdom. Meanwhile, UniCredit is just getting on with it.

    • 18 Jul 2016
  • P&M Notebook: Brexit McBrexitface

    So it’s one week after the chaotic morning of Brexit, and remarkably little has been clarified. Markets panicked then calmed down, the only grown-up left in Britain (a Canadian ex-Goldman banker) promised more cheap money, but the future of the City isn’t any clearer.

    • 01 Jul 2016
  • P&M Notebook: All Brexit, all the time

    It’s been hard to concentrate on anything but Brexit for the last week. All the predictions of doom and gloom seemed overblown on Thursday night, but it’s been wall to wall chaos since Friday morning. Now the very future of financial markets in the UK is in question, with thousands of jobs, bank structures, and financial regulation all hanging in the balance.

    • 27 Jun 2016
  • P&M Notebook: Beachfront blues

    Several of GlobalCapital’s correspondents spent the week in Barcelona, hiding from Brexit polls and enjoying the benefits of European integration with 3,000 securitization professionals. But the tone from the conference was far from enthusiastic.

    • 20 Jun 2016
  • P&M: Can the biggest bank in the world* get smaller?

    For GlobalCapital, this week has been all about HSBC. The bank rolled out a comprehensive reorg of its banking and capital markets businesses first thing on Monday, provoking admiration and anxiety in equal measure.

    • 10 Jun 2016
  • P&M Notebook: HSBC gears up for new regime

    HSBC has started a sweeping reorganization of its banking business, following the arrival of new co-head Matthew Westerman in early May. The heads of corporate finance and M&A are on the way out, and it's all change in coverage.

    • 03 Jun 2016
  • P&M Notebook: The defenestration of Milan

    UniCredit needs a new boss and a new strategy. But the industry as a whole could do with some stability.

    • 27 May 2016
  • P&M Notebook: COOs on the march

    Chief operating officer has always been a title that comes with some power, but increasingly COOs seem to be in the driving seat. Regulation, cost control, staffing, and risk are defining success in investment banking more than revenue growth at all costs.

    • 23 May 2016
  • P&M Notebook: another triumphant quarterly loss

    Last week was the last big week for Q1 numbers, and offered the market a chance to see how the Credit Suisse turnaround was going. Those with weak stomachs, turn away now.

    • 16 May 2016
  • P&M Notebook: Gallic shrug

    More bank results, more cuts, and less business; the last holiday-shortened week brought plenty of changes to the industry.

    • 09 May 2016
  • P&M Notebook: It’s all about expectations

    Deutsche Bank, Barclays and Standard Chartered all have new-ish bosses, are going through brutal restructuring, and all managed to surpass market expectations when they reported first quarter results last week.

    • 03 May 2016
  • P&M Notebook: It is about the money

    US bank reporting season is over; the Europeans have yet to start. Just how bad was Q1 really?

    • 25 Apr 2016
  • P&M Notebook: Dodged a bullet

    The FCA’s review of the primary capital markets has mostly turned out fine. It doesn’t drink the industry Kool-Aid, but it does leave decades of hallowed market practice mostly untouched.

    • 18 Apr 2016
  • P&M Notebook: Shrinking seats

    Banks are shrinking, the industry is shrinking, and big splashy hires are a thing of the past. So when a senior FIG banker, in a secure seat, at a solid institution jumps ship, there’s a mystery afoot.

    • 08 Apr 2016
  • P&M Notebook: Bonus damage?

    Is the bonus cap damaging or not? If you’ve been disappointed in this comp round, or recently found yourself looking for other opportunities, you might have views.

    • 01 Apr 2016
  • P&M Notebook: Once more with feeling

    Just when it seemed like the round of investment bank restructuring was quieting down, and moving from splashy announcement to dogged execution, along comes Credit Suisse, again.

    • 29 Mar 2016
  • P&M Notebook: The dilemma of the niche player

    What’s the right size for an investment bank? Giant, tiny, or somewhere in between? Fresh from restructurings at UniCredit and Natixis, GlobalCapital ponders the future of the 'squeezed middle.'

    • 18 Mar 2016
  • P&M Notebook: ECB don’t play

    No amount of European Central Bank shock and awe can take away from the continued weak profits at capital markets banks — even the best players are cutting costs. Meanwhile, the farcically large amounts of money being aimed at the European banking system continue to amuse.

    • 14 Mar 2016
  • P&M Notebook: Into the flesh

    While Barclays drew a lot of the focus this week, with its second new strategy in less than two years, it was Deutsche’s decision to do some deadly serious cost cutting in debt capital markets that caught the most attention.

    • 07 Mar 2016
  • P&M Notebook: Losing large amounts of money is the new flat

    The banking industry has progressed from the sort of soft, will-they-won’t-they mediocre revenue performance which characterised 2014 and 2015 to hardcore, unambiguous bottom line losses.

    • 26 Feb 2016
  • P&M Notebook: The Matrix Revolution

    Like the film of the same name, investment bank 'matrix' structures make GlobalCapital’s head hurt, and become tedious when they’re repeated a few times. Trying to decipher which banker is responsible for which business becomes a complex head-scratcher. One imagines revenue-credit discussions are similarly painful.

    • 19 Feb 2016
  • 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
  • P&M Notebook: Doesn’t look good for Deutsche

    Deutsche Bank had a pretty dreadful 2015, and its boss, John Cryan hasn’t been shy about letting the market know. The bottom line was damaged most by litigation and restructuring, but look through to investment banking and things don’t get much better.

    • 01 Feb 2016
  • P&M Notebook: Staley stamps his mark

    Barclays, oh Barclays. GlobalCapital can’t help wonder about the disconnect between how shareholders see banks, and how their employees see them. Round after round of cuts, each one loved by the market, but ever more corrosive to staff morale.

    • 22 Jan 2016
  • P&M Notebook: Beware of regulators bearing gifts

    The Basel Committee delivered a fantastic New Year’s result for the big trading banks — an increase of only 40% in trading book capital requirements. It sounds punishing, but really, it marks a big climbdown from the Committee.

    • 18 Jan 2016
  • P&M Notebook: Bond markets in the spotlight

    The bond markets had it coming. It was naïve to hope that every corner of the Eurobond market, even in these compliance-heavy days, was a model of perfect probity. While there is money to be made, corners will be cut.

    • 11 Jan 2016

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 317,793.98 1355 8.72%
2 Citi 301,114.13 1092 8.26%
3 Barclays 259,580.63 846 7.12%
4 Bank of America Merrill Lynch 258,842.43 934 7.10%
5 HSBC 224,273.23 905 6.15%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Oct 2016
1 JPMorgan 29,669.98 55 6.95%
2 UniCredit 28,692.62 136 6.73%
3 BNP Paribas 28,431.90 139 6.66%
4 HSBC 22,935.49 112 5.38%
5 ING 18,645.88 118 4.37%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Oct 2016
1 JPMorgan 14,593.71 79 10.38%
2 Goldman Sachs 11,713.19 63 8.33%
3 Morgan Stanley 9,435.23 48 6.71%
4 Bank of America Merrill Lynch 9,019.27 40 6.41%
5 UBS 8,763.73 42 6.23%