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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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The decision by BHP Billiton to sever its broking ties with Barclays challenges its global status, writes David Rothnie.
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David George has joined Renaissance Capital as the head of London trading to support Russian bank’s efforts to grow its businesses in Turkey and central and eastern Europe.
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Scope Ratings has appointed a former Standard & Poor’s equity analyst to its bank rating team, as the new kid on the ratings block gets ready to launch its first ratings on many European banks.
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Hong Kong based SinoPac Asset Management has appointed Manuel Schlabbers to manage the firm’s new Accudo Asian Value Arbitrage Fund. -
Société Générale’s corporate and investment banking business reported €6.7bn of revenues in 2013, a 14% increase on 2012 and headline group net income was strongly up at €2.175bn versus the previous year’s €790m. SocGen beat net income consensus estimates for the fourth quarter by nearly €160m.
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BNP Paribas reported weak full-year earnings on Thursday, with an unexpected provision wiping out much of the firm’s profit for the last quarter. Underlying performance also disappointed investors, with the investment bank seeing an almost 25% decline in profits.
