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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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To lose one managing director barely counts as a trifle — but to lose 20 in little more than three months should set alarm bells ringing, writes David Rothnie. But with Bank of America’s top management apparently unconcerned by the departures of their top, former Merrill Lynch rainmakers in Europe, the question on the minds of those that remain is whether their firm has already abandoned the aim of building an investment bank capable of competing with the best.
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The upcoming bank results season is the most eagerly awaited since, well, the last one. But this time around, there should be at least some good news to report as equity and investment grade debt issuance accelerates. Even so, many firms are again sharpening their axes, says David Rothnie.
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Credit Suisse is quietly assembling a team of dealmakers in an attempt to reverse years of stagnant investment bank wallet share. It’s got a distinctive strategy — which includes a refusal to hire bankers made redundant elsewhere — but can it finally put UBS in its place?
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It’s crunch time for Barclays in its battle to remain independent. A capital-raising sale of its iShares business could help it through and allow BarCap to complete ambitious expansion plans for its European investment banking operation, writes David Rothnie.
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As Oswald Grübel hammers out the finer details of his survival plan for UBS he must somehow maintain the loyalty that binds together the firm’s investment bankers. It is one of the mysteries of the financial crisis that UBS, vilified in its home market to an even greater degree than RBS is in the UK and AIG in the US, still has a franchise worth fighting for, and that more of its investment bankers haven’t already left the firm.
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The unrest at Bank of America Merrill Lynch has reached the heart of its best and most profitable business — its financial institutions group, part of which is being reshuffled as the merged entity shies away from potential conflicts of interest.