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Corporate broking relationships endure for decades and build deep roots between both individuals and institutions, enabling banks to win outsized revenues from clients they serve. No wonder that a new crop of banks are expanding their ambitions
Five months in, Alessandro Melzi is getting started on the plan, but his boss is about to change
Paul Gibbs among those departing the firm after long service
Bank strives for ‘complete global offering’ in M&A and ECM but market conditions hang in the balance
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Market participants and their lawyers were this week studying the US Department of Labor’s lengthy new fiduciary rules for retirement accounts, as the industry worries about a big shift in the way it can offer financial products to the country’s savers. One derivatives-related area on which officials appear to have taken advice is their previous plan to limit the ability of investors to hold listed options.
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UniCredit has named the new co-heads of its international financial sponsor solutions team, which houses its leveraged finance business for sponsors, following the promotion of David Vials to head of corporate coverage UK.
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HSBC’s group chief executive Stuart Gulliver told clients at a forum in Hong Kong on Thursday that China deserves patience as it attempts its economic transition, adding that he expects Mainland authorities to keep their word on RMB stability.
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The Basel Committee has made an adjustment to the way it wants leverage ratios to be calculated, in a change that will lessen the capital burden on many banks that deal in derivatives.
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China Renaissance has named Andrew MacInnes as CEO of its US arm, as the boutique investment bank steps up its overseas ambitions and grows its equity distribution capabilities stateside.
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Ally Financial has signed an agreement to buy options broker-dealer TradeKing Group for $275m, in a deal that brings $4.5bn of assets and technology.