Banks

Jefferies is enjoying unprecedented success in EMEA as it exploits dislocation among European rivals to snap up staff. But the US bank's hard-driving performance culture is not for everyone, writes David Rothnie.

Kelvin Lim has returned to DBS as an executive director in the syndicated finance team after 11 years with Citi.

A long-touted equity link between London and Shanghai is set for take-off by the end of the year, but the most unsurprising news to emerge is HSBC’s plan to use it for a Mainland listing. China now has an excellent chance to get its act together on Chinese Depositary Receipts.

Japan Bank for International Cooperation took advantage of the lack of competing supply and good demand in dollars to suck $3bn out from the primary market on Wednesday. Meanwhile, the Province of Alberta has mandated banks for its third benchmark of the year.

Eurotorg, the largest supermarket chain in Belarus, has fixed a price range for its landmark IPO on the London Stock Exchange, which could value the company at almost $1bn.

Consolis, the French concrete producer owned by Bain Capital, has abandoned its €135m IPO on Euronext Paris, blaming volatile markets.

The UK’s B&M will move into the French retail sector with a debt-financed acquisition of discount retailer Babou.

The Central Bank of Tunisia, on behalf of the sovereign, hit the market on Wednesday morning to print a five year euro benchmark.

Two Middle East credits are on screens for dollar bond, with more in the wings waiting to come to market.

Barclays’ breakneck pace of investment into its trading businesses has borne some fruit in the third quarter of this year, with a 19% increase in markets income to £1.16bn. But banking was softer, and the results do not yet allow the firm to dismiss demands from Edward Bramson, the activist investor, to shrink the investment bank.

As investors push on with fighting the Banco Popular resolution decision, Pimco has succeeded in convincing a New York District Court to extract information from one of Santander’s US arms — but failed to convince to the court to force any transparency from the Spanish bank itself.

Malaysia’s Tenaga Nasional Berhad (TNB) raised $750m from a Wakala sukuk sale on Tuesday, navigating market worries by using a targeted approach for its deal.