Europe
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UniCredit has named Andrea Maffezzoni head of strategy and M&A, a role formerly occupied by Marina Natale.
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A managing director in FIG debt capital markets is no longer in his role at Bank of America Merrill Lynch.
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European bank issuers of additional tier one (AT1) have been abandoning the euro market in favour of dollars. But some have had to start embracing equity conversion structures to join in because it is one of the few ways to account for AT1s as debt and avoid a mark-to-market swap. -
UK corporate issuers that rely on discretionary spending for revenue saw their bond spreads widen this week, after inflation in the UK soared past Bank of England targets.
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A higher than expected UK inflation rate led to a sell-off in Gilts this week, a move that may put an end to what has been a remarkable run of traffic in sterling SSA bond issuance.
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Credit Suisse may be about to bow to investors’ wishes and give up the idea of floating its Swiss Universal Bank, opting instead for a capital increase, which could come as an accelerated deal. A statement may come on Friday when the bank publishes its annual report.
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Euronext this week agreed a strategic partnership with Morningstar that will bring new indices and derivatives contracts to the pan-European exchange within two weeks.
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The European Commission has signed off on a piece of legislation that, if unopposed by the European Parliament and Council, could extend clearing compliance deadlines for smaller over the counter derivatives traders.
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The European Securities and Markets Authority (ESMA) has published final reports on two guidelines regarding the implementation of central securities depository regulation.
