People & Markets - All Articles

  • Explosion of clean energy to upend economy, but may not be fast enough

    The economic potential of renewable energy is awesome, and should make fossil fuels obsolete by 2050, according to a new study by Carbon Tracker. But despite the compelling cost arguments for renewables, an enormous political effort will still be needed to accelerate their adoption if disastrous climate change is to be avoided.

    • 29 Apr 2021
  • Aellen to co-head CS Swiss franc syndicate

    Damien Aellen has been promoted to co-head of Credit Suisse’s Swiss franc bond syndicate desk.

    • 25 Apr 2021
  • Corporate funding leader hands over to new generation

    One of the corporate bond market’s most experienced funding officials is to leave the market next month.

    • 23 Apr 2021
  • Taxonomy’s troubled birth shakes its power to green markets

    Market participants will embark in the coming weeks on the difficult task of working out how to use the European Union’s sustainable finance Taxonomy, after the first criteria were published this week. In doing so, they will be conscious that the smooth tide of green finance is now breaking against the hard reality of power politics and resistance by fossil fuel industries — a clash that is rocking the Taxonomy’s credibility, writes Jon Hay.

    • 22 Apr 2021
  • Tikehau co-founder: 'Companies must be sustainable to profitable'

    ESG exposures are no longer just 'nice to have', according to alternative asset manager Tikehau Capital, which is doubling down on its sustainable investments in the Covid-19 recovery period.

    • 22 Apr 2021
  • Taxonomy ducks gas and caves on bioenergy

    The detailed rules for the EU Taxonomy of Sustainable Economic Activities look set to come into force, as the European Commission published them on Wednesday, after weeks of intense lobbying and negotiation that had raised the prospect of them being delayed again. Gas will not enter the Taxonomy for now and will be dealt with in separate legislation, but nuclear power could enter the Taxonomy later this year, alarming greens.

    • 21 Apr 2021
  • Germany, Belgium join battle over Taxonomy credibility as it goes to wire

    Hectic negotiations and lobbying are going on at the European Commission about the Taxonomy of Sustainable Economic Activities, in the last day before it is due to publish the detailed rules. Key countries including Germany have changed their positions, GlobalCapital can reveal, while supporters of gas and nuclear power are digging in. Battlelines are now being drawn over the timing.

    • 20 Apr 2021
  • Stan Chart to split syndicate management after putting Maclean at risk

    The global head of bond syndicate at Standard Chartered has been placed at risk of redundancy. The bank will divide his responsibilities between two other positions, one of which was vacated just last week.

    • 20 Apr 2021
  • Corporate reporting to enter the age of sustainability

    A new acronym is joining the sustainable finance lexicon — the SRD. The EU’s Sustainability Reporting Directive will become the cornerstone of corporate reporting on sustainability, which is the foundation of responsible investing. A draft of it has been leaked, showing that it will impose much stricter rules on companies about reporting their environmental and social impacts, but also contains loopholes.

    • 20 Apr 2021
  • Citi taps Drury for new tech and comms group in San Francisco

    Citi's head of EMEA banking, capital markets and advisory, Phil Drury, is relocating to San Francisco to take charge of a new franchise covering technology and communications.

    • 19 Apr 2021
  • Primary market platform moves into new FX and adds Europe boss

    DirectBooks, a platform for primary bond issuance initiated by a group of banks, has added the ability to handle euro and sterling deal announcements as well as a new senior member of staff to run its European business.

    • 19 Apr 2021
  • ABN hires internally for new UK DCM top job

    Vi Davda has been promoted to a new role of head of UK debt capital markets at ABN Amro, as the Dutch bank looks to expand its business across UK financial institutions and corporate clients.

    • 16 Apr 2021
  • EU eyes separate gas law, leaves harmful bioenergy in Taxonomy

    The European Commission is set to put forward a new solution to the intense battle over the EU's sustainable finance Taxonomy, between green finance supporters and EU member states that want to safeguard their plans to use gas, GlobalCapital has learned. This would appear to involve leaving gas out of the sustainable category of the Taxonomy, as environmentalists have demanded, and making a "separate legislative proposal" to deal with gas and nuclear power.

    • 15 Apr 2021
  • Lloyds picks resources banker to lead ESG team

    Lloyds Bank has appointed a senior banker to lead a new 16 strong team structuring environmental, social and governance products and services for companies in the UK, and plans to hire further staff externally.

    • 14 Apr 2021
  • IMF ramps up focus on climate, launches innovative database

    Climate change will become much more prevalent in the International Monetary Fund’s work this year, including its assessments of countries’ financial stability, after sustained complaints that it has not paid enough attention to global warming. Ways to link debt relief to climate action will take longer to implement.

    • 09 Apr 2021
  • BNP Paribas bankers in Spain leave for boutique firm

    A group of BNP Paribas bankers in Spain have jumped ship to join boutique firm Beka Finance, according to market sources. One person familiar with the situation said that the French bank will refill these roles in due course.

    • 08 Apr 2021
  • HSBC brings back Horsburgh for UK role

    HSBC is relocating the regional head of its leveraged and acquisition finance (LAF) business from Hong Kong to London to help implement its UK strategy.

    • 08 Apr 2021
  • Trump exit unleashes Financial Stability Board to act on climate

    The G20’s Financial Stability Board is cranking up its action on climate change again now that Donald Trump is no longer US president. This will feed the hopes of some sustainable finance supporters who want the FSB to drive progress on issues including environmental accounting.

    • 07 Apr 2021
  • NatWest Markets promotes Plan in corporate debt

    NatWest Markets has made another change to its debt financing management structure, with a new role for Roland Plan.

    • 06 Apr 2021
  • Credit Suisse’s heads of IB and risk fall on swords after Archegos implosion

    Credit Suisse has begun an overhaul of its leadership following the collapse of Archegos Capital, as well as losses from the bank’s ties to Greensill Capital. The Swiss lender has cut dividend payments by two thirds, and slashed bonuses for senior executives.

    • 06 Apr 2021