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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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In a major senior reshuffle, Mizuho Securities Asia has named a new chairman, a new president and CEO and a new regional head of equities for Asia ex Japan. -
Intesa Sanpaolo has taken a €6.8bn impairment in its fourth quarter results, following the same strategy as UniCredit in hammering 2013’s P&L to get a clean balance sheet ahead of the stress test and asset quality review double-whammy due later this year.
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BNP Paribas has put disintermediation at the heart of its 2016 strategy for the corporate and investment bank, and committed to “bolster debt platforms, in particular high yield”. It also plans to launch an integrated derivatives clearing platform for the first time, straddling CIB and Securities Services.
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Citigroup, HSBC, RBS Citizens and Santander USA have failed stress tests, and face having to resubmit capital plans, after the US Federal Reserve failed them for stress tests.
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Banks are still allocating resources to unprofitable areas of business which are unlikely to get better, according to research from Morgan Stanley and Oliver Wyman.
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The Bank of England’s review of rules on UK banks' leverage ratios will consider a variable ratio that can be used counter-cyclically, alongside risk-weighted standards.
