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Public pension schemes have sold shares in coal, oil and gas companies but are still funding expansion of the gas industry through infrastructure funds
Bank M&A is back on the agenda, but talk of SMBC buying Jefferies is premature. The two firms are prioritising their multi-stranded alliance and a takeover now would jeopardise it
I don’t need to work, but I’m tempted to go back
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
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  • Goldman Sachs said that Karen Cook would become co-chairman of its investment banking division.
  • Citi has shaken up its UK management as it tries to address underperformance in Europe’s biggest investment banking market, writes David Rothnie.
  • UK authorities have finished their overhaul of personal responsibility in banking, making senior managers accountable for wrongdoing or problems in their business lines. The initiative comes as new bosses at Barclays and Deutsche Bank plan drives to boost personal accountability in their organisations.
  • Big changes are in store for the Korea Exchange (KRX) as it gets closer to a long-awaited IPO, a move expected to help the bourse compete more effectively with international stock exchanges. But hurdles stand in the way, writes John Loh.
  • UK bank shares fell sharply on Wednesday afternoon after George Osborne, chancellor of the exchequer, announced a new 8% surcharge tax on banks’ profits, which took the market by surprise.
  • The Barclays board this week ejected chief executive Antony Jenkins amid concerns that Barclays is not delivering fast enough growth. John McFarlane, who came in as chairman in April, has taken over as executive chairman while the bank searches for a new CEO.