Europe

Round Hill Music Royalty Fund has raised $46.1m just one month after its $282m London IPO to help buy an extensive music catalogue featuring musicians such as Elvis Presley, the Rolling Stones and the Beatles.

Sovcombank, one of Russia’s largest private banks, is making strides in its push to reshape Russia’s financial services marketplace. Dmitry Gusev, its chief executive, talks to GlobalCapital about the bank and its plans for 2021, ahead of a possible IPO.

Hungary has no plans to issue wholesale bonds in foreign currency markets next year, having raised more debt than expected in euros and yen in 2020.

Politicians across Europe are interested in the idea of the European Central Bank writing off the government bonds it holds, but this looks tricky and potentially not so useful after all.

Citi has hired Peter Kimpel as head of banking, capital markets and advisory (BCMA) for Germany and Austria. He joins from Barclays and was also previously chief financial officer at Rocket Internet.

Credit Suisse's investment bank is well placed for where the market is heading after the coronavirus pandemic, it said on Tuesday at an investor day. Its new global trading solutions (GTS) business unit may be key to future revenue streams.

The Austrian treasury will launch a new programme for treasury bills next year, using a schedule of frequent auctions. This will allow it to issue bigger deals to a broader investor pool, as short term funding becomes more important for Austria.

The UK government is in the midst of a review that is seeking to make London a more attractive listing venue for high growth international technology companies. While change is undoubtedly concerning for some who do not want the UK to lose its reputation for high standards, the UK should not ignore a chance for the London Stock Exchange to evolve.

The Finnish financial sector wants to put the brakes on new measures aimed at completing the Banking Union, arguing that EU member states should move back into a clearly defined process of risk reduction.

Norwegian banks are unsure how to press on with their minimum requirements for own funds and eligible liabilities (MREL). The Financial Supervisory Authority of Norway (NFSA) is asking them to meet their targets with subordinated liabilities only, but there is a chance the country will implement a softer set of EU rules next year.

During last January’s conference in Vienna, we felt that sentiment around CEE was mostly optimistic, but — to be frank — slightly unenthusiastic. It seemed as though everybody was expecting another solid, but ordinary year ahead. The news about the novel coronavirus in China was very distant.

Cellectis, the French gene-editing company, has launched a $100m US capital raising to help fund its research and development operations. The sector has had a record year for issuance in 2020, as the Covid-19 pandemic has concentrated minds on global healthcare innovation.