Latest FIG People & Markets news
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JPM picks Piepszak as CFO
JP Morgan has appointed Jennifer Piepszak as its chief financial officer, replacing Marianne Lake, who will now run consumer lending.
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NatWest hires covered bond trader
NatWest Markets has hired an experienced covered bond trader from Nomura. The move is the latest example of staff swapping between the two firms, but also underscores the UK’s bank ambitions plans.
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Strasbourg approves the covered bond legislative package
The covered bond industry and the Capital Markets Union (CMU) hit a new milestone on Thursday after the European Parliament’s plenary in Strasbourg adopted the text of the Covered Bond Directive just after midday.
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Trajectory bodes well for US banks’ Q2s
Investment banking activity suffered a sluggish start to the year at the top US names, particularly in equity underwriting, but conditions brightened as winter turned to spring.
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EU ready for bank reg overhaul after EP approval
The European Parliament this week approved a package of measures that will overhaul prudential capital rules for banks, ending more than two years of debate in time for new parliamentary elections in late May.
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ECB tiering no panacea for ailing banks, say analysts
The European Central Bank has indicated that it is looking into how to mitigate the costs that years of negative interest rates have exacted on banks. That has led some in the market to bet that it will introduce tiered interest rates at some point. But analysts are not convinced that tiering deposit rates will help weak lenders — or make any difference at all. Mike Turner reports.
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People news in brief
Gaab retires from Deutsche — Bank of America nabs FIG banker from Morgan Stanley — Credit Suisse bumps up IG trading team
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MUFG relocates all European DCM and sales to Paris
MUFG has relocated 21 staff to Paris, including all its European DCM origination bankers, all its sales people who cover European investors and an MTN banker.
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Credit Suisse adds to IG sales and trading line-up
Credit Suisse has made a number of hires from other banks in investment grade trading for its London office, according to an internal memo seen by GlobalCapital.
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UK’s FCA plans to adopt EU covered bond law
The Financial Conduct Authority has set out plans to amend the UK’s regulated covered bond framework once European Union legislation comes into force.
Comment
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Capital markets need an Extinction Rebellion
Sustainable finance is bubbling with exciting new initiatives. But making people feel good is not enough. Activity needs to produce results, and so far there is more noise than movement. The tone is far too sedate — it needs some hard core activism to break the torpor.
Go to GlobalCapital's FIG data pages for the most up to date information on the global financial institution bond markets. Find our FIG bond comments, FIG league tables by Dealogic and our priced deals database.
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Bank Profiles
Latest news by market and league table performance
Bookrunners of Global Covered Bonds
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | HSBC | 6,931.77 | 33 | 6.35% |
| 2 | LBBW | 6,339.70 | 36 | 5.80% |
| 3 | UniCredit | 6,316.04 | 54 | 5.78% |
| 4 | Natixis | 5,053.55 | 24 | 4.63% |
| 5 | Barclays | 4,895.61 | 26 | 4.48% |
Bookrunners of Global FIG
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Citi | 35,201.33 | 164 | 7.16% |
| 2 | Bank of America Merrill Lynch | 32,418.51 | 127 | 6.59% |
| 3 | JPMorgan | 31,248.29 | 145 | 6.35% |
| 4 | Morgan Stanley | 22,451.55 | 125 | 4.56% |
| 5 | Goldman Sachs | 19,338.59 | 182 | 3.93% |
Bookrunners of Dollar Denominated FIG
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Bank of America Merrill Lynch | 28,574.49 | 103 | 12.34% |
| 2 | Citi | 27,077.87 | 127 | 11.69% |
| 3 | JPMorgan | 24,882.45 | 113 | 10.74% |
| 4 | Morgan Stanley | 18,061.83 | 88 | 7.80% |
| 5 | Goldman Sachs | 15,101.12 | 157 | 6.52% |
Bookrunners of Euro Denominated Covered Bond Above €500m
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | LBBW | 4,185.21 | 16 | 7.11% |
| 2 | Natixis | 4,178.19 | 15 | 7.09% |
| 3 | HSBC | 3,974.99 | 14 | 6.75% |
| 4 | Credit Agricole CIB | 3,687.68 | 15 | 6.26% |
| 5 | Deutsche Bank | 3,304.65 | 12 | 5.61% |
Global FIG Revenue
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Morgan Stanley | 365.83 | 497 | 7.62% |
| 2 | JPMorgan | 332.66 | 618 | 6.92% |
| 3 | Bank of America Merrill Lynch | 299.89 | 590 | 6.24% |
| 4 | Goldman Sachs | 276.71 | 375 | 5.76% |
| 5 | Citi | 264.54 | 592 | 5.51% |
Bookrunners of European Subordinated FIG
| Rank | Lead Manager | Amount €m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Credit Agricole CIB | 3,286.19 | 8 | 11.28% |
| 2 | Barclays | 3,229.69 | 10 | 11.08% |
| 3 | UBS | 3,210.90 | 11 | 11.02% |
| 4 | BNP Paribas | 2,554.19 | 12 | 8.76% |
| 5 | HSBC | 1,754.26 | 12 | 6.02% |
