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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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Citigroup reported earnings above expectations on Tuesday. The bank’s consumer banking division accounted for just under half of revenues as CEO Michael Corbat pushes through an unwinding of consumer retail operations, while Mexican subsidiary Banamex faces yet another fraud investigation.
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Natixis has appointed a new head of credit research and a new head of equity research, both internal promotions.
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Bank of America Merrill Lynch has hired from within for the newly created role of head of southeast Asia equity capital markets in Singapore. The hire beefs up the bank’s Asian ECM senior management team.
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Standard Chartered has made four appointments to its cash equities sales team in Asia as part of its efforts to enhance its equities division in response to growing demand from clients.
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On Friday the Securities & Exchange Commission approved an order type on the New York Stock Exchange which allows the exchange to give preferential treatment to some orders over others. Any market participant can use the order type, but the move is expected to disproportionately benefit high frequency trading firms.
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The Monetary Authority of Singapore (MAS) has released a consultation paper on real estate investment trusts (Reits) with proposals it says will improve governance while offering more flexibility.