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New equity capital markets talent and Bernstein joint venture have helped Société Générale win eye-catching mandates. Next, it will expand sector teams
Italian investment bank has retained its focus since its takeover by Banca Monte dei Paschi. Now with two suitors for MPS, it is set for more upheaval
Years of underperformance are behind it and the bank has launched a new growth plan
The Italian bank’s head of advisory and financial solutions wants AI to support a new operating model based on being able to work faster than any of its rivals
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Does Merrill Lynch still have the balance sheet firepower to support its top clients? Yes, says David Rothnie, so long as it continues to be choosy over the deals it backs. At the moment that means trophy mandates in the financial institutions business trump the needs of lesser clients.
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RBS’s takeover of ABN Amro is an experiment in big banking mergers that will be widely watched. So far the clues to its success are mixed. But as David Rothnie argues, RBS could make every move right and the deal might still be remembered as a failure — if the combined bank is blighted too badly by the credit crunch.
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Merger negotiations between Commerzbank, Dresdner Bank and Dresdner’s parent Allianz are intensifying. But the once mighty Dresdner Kleinwort investment bank has no seat at the table and is marginal to the main discussions. As David Rothnie writes, the firm may be entering its last months, in a process that is out of its control.
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Citigroup has joined the small group of investment banks that plan to reform their bonus policies to encourage more responsible and collegiate behaviour. But as David Rothnie writes, Citi’s CEO Vikram Pandit has tried the idea before, at Morgan Stanley. He may have a stronger hand at Citigroup, but this still looks like a half-hearted attempt.
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It will all happen behind closed doors, but the election process for new partners at Goldman Sachs, which starts this week, promises to be a long-drawn-out and heated battle. As David Rothnie explains, Goldman’s investment bankers will be fighting to hold on to power despite a cyclical downturn in their business.