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Ten months after its unusual regional retreat in equity capital markets and M&A, HSBC has had a good year in debt capital markets, suggesting its new strategy can work
New look corporate finance division has merged M&A and sponsor coverage
Physical infrastructure, once seen as boring and ex-growth, has become one of the hottest areas for capital markets and M&A, and that is set to accelerate in 2026
Hit by an alleged ‘fraud’ at the bankrupt US car parts maker, Wall Street’s last pure play investment bank has its sights set on European leveraged finance as it expands its alliance with SMBC
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Rivals that have been predicting the demise of Goldman Sachs’ investment banking business following the firm’s record $500m fine from the Securities and Exchange Commission will be disappointed to note the firm’s recent capture of two big mandates. Goldman is alive and kicking, writes David Rothnie — but it still needs to answer tough questions about where it goes from here.
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Nomura’s aim of a top-five slot in investment banking looks like a distant dream as the Asian bank’s profits fell 80% in the first quarter and it reported its biggest pre-tax loss for overseas businesses in five quarters, writes David Rothnie.
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Anshu Jain is a man under pressure — Eu10bn of pressure to be precise. That is Deutsche Bank’s pretax profit target for its operating businesses by 2011, double that posted in 2009. Having taken control of the entire corporate and investment banking division in July following the retirement of Michael Cohrs, he has wasted no time in setting out his strategy, with Asia and investment banking set to play crucial roles. David Rothnie reports.
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It’s not every quarter that you beat Goldman Sachs’s earnings. But that’s precisely what Morgan Stanley chief executive James Gorman has just done. However, despite re-energising the firm since taking over from John Mack last September, his European business remains underpowered.
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BP has lined up a familiar team of M&A heavyweights ahead of what is being billed as its make or break second quarter results on July 27. But insiders warn against a transformational deal such as a big disposal or white knight rescue — at least until the oil leak in the Mexican Gulf is stopped, a complete assessment of the environmental damage can be conducted and the cost of the clean-up can be counted. David Rothnie reports.
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The Jérôme Kerviel affair and the credit crunch have stripped the bank of its risk- taking edge and left it searching for a new raison d’etre. David Rothnie reports.