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New ECM head at UniCredit — NIB treasurer heads to SEB — Mills takes up newly created position at UBS
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Europe’s banks sniff opportunities amid the crisis as they look to build out their corporate broking businesses, but they will face fights to remove incumbents, writes David Rothnie.
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Credit Suisse took a $294m hit from marking leveraged finance underwriting exposure to market in the first quarter, its results on Thursday showed, as March’s volatility and jump in credit spreads took their toll.
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Jana Hecker, most recently at Deutsche Bank, has been appointed global head of equity capital markets at UniCredit, alongside other personnel changes in the Italian bank’s ECM business.
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India’s financial regulator has made a one-time relaxation of rules governing IPOs and rights issues in response to the coronavirus outbreak, which continues to keep the country’s population at home.
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With its more relaxed rules around pre-emption rights, the UK has led from the front by allowing embattled companies to raise equity to keep themselves alive during the coronavirus pandemic. The market's flexibility means there have been no damaging delays waiting for for formal rule changes. Such pragmatism is admirable, although more must be done to protect retail investors from dilution.