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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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Bank of America Merrill Lynch’s James Fleming has stepped down from his role as co-head of Asia Pacific global capital markets to take up a new post running equity capital markets in the UK. -
Schroders has shaken up its financial institutions desk, and has brought in a well-known credit analyst from competitor Legal & General.
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Citi adjusted its 2013 results downwards on Friday as oil services company Oceanografia’s creditors continue to suffer from the company’s suspension from being awarded new Mexican government contracts. As the company’s bonds plunged into the teens, investors said the situation was a reminder of the risks of buying unrated corporates.
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Royal Bank of Scotland reported a pre-tax loss of £8.2bn for the full-year 2013 on Thursday, its sixth consecutive year of losses since it was rescued in 2008 and a result that chief executive Ross McEwan called “sobering”. The already slimmed down investment bank’s profits were down by more than half, but bankers there are no closer to knowing how many more jobs will go as RBS reduces its seven operating divisions down to three.
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Citi’s head of equity syndicate for Asia Pacific ex Japan, Rupert Mitchell, has resigned from his role to join rivals Goldman Sachs, according to multiple sources close to the move.
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Renaissance Capital has appointed Robert Lamprecht as chief executive officer of Renaissance Capital in South Africa. Meanwhile, David George has joined the firm as the head of London trading to support the Russian bank’s efforts to expand its businesses in Turkey and central and eastern Europe.
