Banks

Banks have started splitting up trading teams across locations, while many of those working in the capital markets have been stuck at home. This has caused a couple of hiccups and worries but some wonder if it will lead to a shift in attitudes about meetings and work flexibility once coronavirus passes.

Daiwa Capital Markets Europe's co-head of syndication is set to retire in the next few months, bringing a 44 year run in syndication to an end. GlobalCapital understands his departure is not related to the recent exits from Daiwa's SSA DCM team.

CIMB Group Holdings and CIMB Bank chief executive Zafrul Aziz has been named Malaysia's new finance minister, amid tumultuous political change in the country.

Citi has hired industry veteran Loretta Ko as head of Hong Kong financial institutions, within the corporate banking division, according to an internal memo seen by GlobalCapital Asia.

China Gas Holdings, a Hong Kong-listed natural gas distributor, doubled the size of its onshore renminbi deal to Rmb1bn on Monday, selling just the second Panda bond linked to combatting woes caused by Covid-19.

Months of bidding for UK retail giant Tesco’s Asia business has finally ended, with Charoen Pokphand Group emerging victorious. Three banks have provided financing to the Thai conglomerate to support the purchase.

India’s Tata Steel and Birla Carbon have decided not to syndicate their chunky loans, amid reluctance from the bookrunners to sell down their positions in a slowing market for deals.

The Province of Buenos Aires said on Monday that it had hired Bank of America and Citi to advise it on its debt restructuring.

Credit Suisse is set to move a financial institutions debt syndicate banker from his role in Europe to a position the US in the second quarter of 2020.

Siemens Gamesa, the wind power provider, has tapped into the nascent market for ESG derivatives with a three year interest rate swap executed by HSBC.

UK electricity distributor Electricity North West, which manages electricity networks in the north west of England, has started marketing US private placements. However sources are worried the market will not cope with pricing transactions amid wild swings in Treasury yields.

Emerging market bond valuations were in free-fall on Monday, after a collapse in the price of oil gave investors yet another reason to worry about the global economic outlook.