Banks

The Hong Kong securities watchdog has banned former Goldman Sachs banker Tim Leissner from working in the city’s financial industry ever again for his involvement in the 1MDB multi-billion-dollar money laundering scheme.

Credit Suisse has poached UBS research veteran Erica Poon Werkun to head equity research for Asia Pacific, according to an internal memo seen by GlobalCapital Asia.

An undersupplied sterling bond market was on Wednesday given two new corporate deals to chew on: a £350m three year from carmaker BMW and a £250m no-grow eight year from UK retailer Marks & Spencer. Abertis Infraestructuras, the Spanish roll road operator, also offered a €1.3bn six and 10 year deal.

Société Générale has begun its planned round of redundancies and the first name GlobalCapital has associated with the cuts has been with the bank for over a decade.

KfW reopened the sovereign, supranational and agency (SSA) dollar market this week, with the borrower finding a far more welcoming reception than its euro outing a day earlier.

Shares in Synthomer, the UK producer of aqueous polymers, closed 1.3% higher on Wednesday after the company announced a £204m rights issue to finance its expansion in the US.

Commerzbank has appointed a head of public sector origination and syndication, and a head of international banks, as part of a reorganisation of its debt capital markets business, GlobalCapital understands.

Canadian Imperial Bank of Commerce (CIBC) issued its first euro covered bond in well over a year on Wednesday and was able to reap the benefit of its rare appearance by pricing a €1bn eight year flat to its curve.

By offering top level relationships and niche sector coverage, Jefferies has become a pillar of stability in corporate finance, writes David Rothnie. Now it is playing a more active role in public company takeovers.

Santander set a new milestone in the covered bond market on Wednesday with its €1.5bn 10 year, which was one of the most oversubscribed deals of this size and tenor in years.

Ade Ademakinwa will rejoin Deutsche Bank as head of its European financial institutions syndicate desk, just as a senior and longstanding member of that team departs.

Spain’s Red Eléctrica Corporación has signed a €500m revolving credit facility to part finance its acquisition of compatriot communication satellite company Hispasat.