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New equity capital markets talent and Bernstein joint venture have helped Société Générale win eye-catching mandates. Next, it will expand sector teams
BNPP is rebuilding strength in advisory in France
I thought the grass would be greener in fintech land, but it’s patchy and dreary
Years of underperformance are behind it and the bank has launched a new growth plan
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With the integration of Lehman Brothers to worry about, Nomura was not able to reap the rewards of the post sub-prime crisis trading boom. But with conditions now looking worse than ever, the Japanese bank may have to sacrifice its pure-play model if it is to succeed in investment banking, writes David Rothnie.
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European investment banking could be finally heading towards the seismic shift that senior bankers have predicted almost since the start of the subprime crisis — the division of the industry into two very traditional arms, one comprising the huge commercial lending and trading firms, and the other being specialist merchant banks.
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Sergio Ermotti, appointed this week as UBS’s new group chief executive, announced on Thursday afternoon a big reduction in the scope and scale of UBS’s investment bank. Speaking at the firm’s investor day, hosted in New York, Ermotti outlined a halving of risk weighted assets in the investment bank and the exiting of business lines that are inefficient users of capital.
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After a brutal third quarter, the French bank is applying its usual caution to its European development, but has no plans to stop expanding — and is eyeing a foray into corporate broking, writes David Rothnie.
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JP Morgan has reshuffled its capital markets management structure in a move that bankers at the firm said reflected an increasing need for an integrated global product approach to clients’ needs.
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Cost-cutting has been a big theme of the third quarter results season at investment banks, and Credit Suisse is no exception. But the firm has ambitions beyond efficiency. Although it has announced 1,500 new job cuts, the bank also reckons it can grow in some areas, as David Rothnie writes.