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Syndicate and trading executives get wider responsibilities
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A managing director in Barclays' investment grade bond syndicate team in New York is set to leave the bank.
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Nomura's head of sovereign, supranational and agency, covered bonds and financials trading has left the bank.
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The shock of the Covid-19 coronavirus outbreak has forced some rapid thinking among capital markets participants. Almost the first impact has been on travel.
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The worsening of the Covid-19 outbreak has battered equity prices and sent investors scurrying for the safety of core government bonds. Most primary markets are all but shuttered, and investors are praying for central banks to provide a glimmer of hope.
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The Bank of England turned up the heat on Libor this week with plans to publish a compounded Sonia index and averages in a move that will drive the transition to the new risk-free rate with a simpler coupon calculation methodology. It will also increase haircuts on Libor-linked collateral which is intended to accelerate the switch out of Libor FRNs maturing after 2021.
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Citi has reshuffled positions in its Europe, Middle East and Africa business, including forming a new position for crisis and climate risk and naming a new head for European businesses.