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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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Credit Suisse said in its full year results profits would be hit by 3%, thanks to the appreciation of the Swiss franc and low interest rates. But group profits for the quarter, at Sfr1.18bn, were a huge improvement on the Sfr529m loss made in the same quarter last year, as the investment bank remained profitable, sucking up losses incurred by non-strategic businesses. -
Singapore Exchange (SGX) has posted a top official to China to drum up interest from Chinese firms keen on raising capital offshore as it grapples with slumping IPO volumes.
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Two key personnel of RHB Bank are understood to have quit from the Malaysian lender. This follows the collapse of talks for a three-way merger between CIMB Bank, RHB and MBSB last month.
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Intesa SanPaolo’s profit in the fourth quarter 2014 came in well below consensus and its corporate and investment banking arm was down 8.7% on the previous year.
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CIMB Bank is combining its ECM and DCM desks under the global capital markets structure common to many global investment banks as the Malaysian lender undergoes a major restructuring to slash costs at its regional investment banking franchise.
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Malaysia’s CIMB Bank is scaling back its investment banking business in the Asia Pacific region as it seeks to reduce a ballooning cost base and cut operating costs by about 30% this year, just three years after it forked out £75m ($114m) to buy the Asian and Australian investment banking assets of the Royal Bank of Scotland. The plan saw it shutter its offices in Australia on Monday, in a bid to trim costs across its investment banking and equities franchise.
