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‘New kid on the block’ disrupts established order with lead role on Schroders takeover
Former MDB sustainable finance expert joins as HSBC rebuilds sustainability leadership
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Investment bank, like the group, wants to diversify outside France, and will lead with its strongest suit, real assets
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Nomura plans to close most of its equity operations in Europe, shutting down origination, research, sales and equity derivatives. But it will maintain a sales force focussed on bringing Asian products to European clients. -
When it comes to Italian banks, pessimists are not in short supply. Indeed, to be bullish on this sector could be considered contrarian, or even foolhardy, given its parlous state. Asset quality is the overriding problem — Italy’s banks have €360bn of non-performing loans on their balance sheets, about a third of the eurozone’s total.
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The Federal Reserve (Fed) and the Federal Deposit Insurance Corporation (FDIC) have tossed out big bank plans to wind themselves up in a disaster situation, citing a string of failures in preparing the “living wills” which are supposed to guide regulators when a systemic firm goes down.
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JP Morgan may have beaten expectations with a 22% drop in profits at its investment bank, but the severity of the decrease augurs ill for other banks this earnings season.
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Nomura plans to close most of its equity operations in Europe, shutting down origination, research, sales and equity derivatives, though it will keep a sales force focused on bringing Asian products to European clients.
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Market participants have reacted positively to the creation of a new privately-backed fund in Italy, which will support the recapitalisation of struggling banks and reduce the country’s huge stock of bad loans.
