People & Markets - All Articles

  • MD exits Nomura

    Nomura's head of sovereign, supranational and agency, covered bonds and financials trading has left the bank.

    • 28 Feb 2020
  • The end of the road for roadshows

    The shock of the Covid-19 coronavirus outbreak has forced some rapid thinking among capital markets participants. Almost the first impact has been on travel.

    • 27 Feb 2020
  • Primary markets shut as coronavirus wreaks havoc in rates, equities

    The worsening of the Covid-19 outbreak has battered equity prices and sent investors scurrying for the safety of core government bonds. Most primary markets are all but shuttered, and investors are praying for central banks to provide a glimmer of hope.

    • 27 Feb 2020
  • People news in brief

    Bank of America makes Vicario EU CIB head — Citi names Iberia heads — Daiwa swaps Purton for Caillebotte

    • 27 Feb 2020
  • BoE ‘turbo charges’ post-Libor transition with plans for index and ramped-up haircuts

    The Bank of England turned up the heat on Libor this week with plans to publish a compounded Sonia index and averages in a move that will drive the transition to the new risk-free rate with a simpler coupon calculation methodology. It will also increase haircuts on Libor-linked collateral which is intended to accelerate the switch out of Libor FRNs maturing after 2021.

    • 27 Feb 2020
  • World Bank’s Malpass lambasts ECB

    The head of the World Bank has launched an outspoken attack on the European Central Bank’s monetary policy, saying its mass purchases of long-dated sovereign bonds was distorting markets and failed to provide short-term finance.

    • 27 Feb 2020
  • MUFG loses co-head of DCM

    MUFG has put one of its co-heads of debt capital markets at risk of redundancy.

    • 26 Feb 2020
  • Bank of England lays out plans to publish compounded Sonia averages and index

    The Bank of England has said it intends to publish compounded Sonia averages and a Sonia index using a ‘shift’ calculation method by the end of July, subject to feedback on a series of questions it has asked sterling market participants. This follows the first deal using that method from the European Bank for Reconstruction and Development Bank last week.

    • 26 Feb 2020
  • Tech boutique offers tool to spot greenwash

    Investors who have been longing for the EU Taxonomy of Sustainable Economic Activities to tell them what is green are now realising that its arrival could make life tricky. From the end of next year, they will have to start reporting how sustainable all their portfolios are. It could prove an enormous headache. But a tiny company has developed a tool it claims can cut out a lot of the worries investors face in working out how to comply.

    • 26 Feb 2020
  • Capital markets chief leaves Eurofima

    Eurofima, the Swiss-based railway financing agency, has let its head of capital markets go as part of a restructuring.

    • 25 Feb 2020
  • Changing of the guard at Daiwa Europe

    Daiwa Capital Markets Europe is changing its senior bond market leadership.

    • 24 Feb 2020
  • Chinese banks return to CGB futures market after 25 years

    The China Securities Regulatory Commission has reopened the Chinese government bond (CGB) futures market to commercial banks and insurers after a 25-year ban, kicking off a pilot programme.

    • 24 Feb 2020
  • ECB is revving the engine but the handbrake is on

    Europe’s capital markets are back in super-demand mode.

    • 20 Feb 2020
  • Sonia gets makeover as EBRD shifts new structure

    The European Bank for Reconstruction and Development this week became the first borrower to deviate from the standardised coupon calculation method for Sonia-linked floating rates. While investors backed the new structure, with the deal receiving a huge order book from a large number of accounts, there are some market participants who believe the disruption was unnecessary, writes Burhan Khadbai.

    • 20 Feb 2020
  • EBRD: futureproofing Sonia

    The European Bank for Reconstruction and Development made a bold move this week by rewriting the rulebook for how coupons of Sonia-linked floating rate notes should be structured. It annoyed some, but it’s hard to argue against the logic.

    • 20 Feb 2020
  • Creditors pull back from frontier markets

    Frontier market bond issuance dropped in 2019, with sovereign issuance at its lowest figure since 2011, amid signs that private-sector creditors are pulling back from riskier countries.

    • 20 Feb 2020
  • JP Morgan appoints new heads of IB, DCM, ECM, M&A

    JP Morgan has promoted a whole new layer of leadership in its investment bank, reaching down to debt capital markets, equity capital markets and M&A. At the top of the tree, Carlos Hernandez has moved from being head of global investment banking to executive chair and has appointed new co-heads of global investment banking.

    • 18 Feb 2020
  • HSBC plans to slim down rates, derivs, equities in Europe

    HSBC’s new strategic plan involves numerous changes to its investment banking division, including shifting resources to Asia and the Middle East, reducing the scale of many operations in the European markets business, and combining product functions with commercial banking.

    • 18 Feb 2020
  • Rose to prune NatWest Markets, take secateurs to rates

    Royal Bank of Scotland — or NatWest Group, as it plans to rebrand itself later this year — is set to cut back risk-weighted assets in the investment bank, particularly in rates. The bank also committed to stricter lending and underwriting criteria for fossil fuel companies.

    • 14 Feb 2020
  • Veteran debt banker leaves HSBC

    One of the most prominent debt bankers at HSBC has left the firm, as the reorganisation of senior management under interim CEO Noel Quinn continues.

    • 14 Feb 2020
  • People moves in brief

    HSBC hires Lahham for MENA corporate finance — Lisanti broadens markets role at Citi — Muscatt joins BMO

    • 13 Feb 2020
  • EU to discuss candidate for EBRD head

    EU member states plan to agree on a common candidate to succeed the UK’s Suma Chakrabarti as president of the European Bank for Reconstruction and Development after his term ends in May. France, Italy and Poland have each put a name forward.

    • 13 Feb 2020
  • Sustainability: more stick, less carrot

    Sustainable finance players are enthusiastic about regulation, which they expect to bring clarity and order to the market. It may — though when the new EU rules are implemented they are likely to irk participants more than they expect. But what would be really effective are direct actions that bypass finance.

    • 11 Feb 2020
  • BMO hires Muscatt for SSA and covered trading

    Luis Muscatt, formerly of NatWest Markets, has joined BMO Capital Markets as a covered bond and SSA trader.

    • 11 Feb 2020
  • Artemis hires new CIO from GAM

    Artemis Investment Management has appointed Matthew Beesley as its new chief investment officer. He will join in April, replacing Peter Saacke, who will concentrate on managing some of Artemis’s funds.

    • 11 Feb 2020
  • People moves in brief: February 7, 2020

    HSBC picks regional bosses ahead of expected restructuring — Mizho goes on fixed income hiring spree — Bank of America appoints head of rates trading

    • 06 Feb 2020
  • Spain's funding chief promoted: deputy takes reins

    GlobalCapital understands that Spain has appointed a new head of funding and debt management to take over from Pablo de Ramón-Laca, who has been promoted.

    • 06 Feb 2020
  • Generali, BNY Mellon launch ESG bond funds

    Generali Investments and BNY Mellon have both set up new funds to invest in green and sustainable bonds, in euros and sterling respectively.

    • 05 Feb 2020
  • Mizuho makes swathe of fixed income hires

    Mizuho International has hired nine bankers for roles across emerging markets trading and sales, rates, options, securitised products and credit sales and trading. Among the hires, the bank has found a new head of MTNs and appointed a senior emerging markets trader from BNP Paribas.

    • 04 Feb 2020
  • BofA makes Gilts trader head of rates

    Bank of America has appointed Snigdha Singh to head up its rates trading team for Europe, the Middle East and Africa.

    • 03 Feb 2020