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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
EU’s new real time price feed could be nice to have, but market participants are not sure it’s essential
Investment bank, like the group, wants to diversify outside France, and will lead with its strongest suit, real assets
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Credit Suisse has announced that Patrick Porritt will become vice-chairman of its financial institutions group. Porritt joins from Bank of America Merrill Lynch, where he was head of APAC FIG.
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A former head of UK equity capital markets at Bank of America Merrill Lynch has been appointed chief executive of UK Financial Investments, which manages the government’s stakes in Lloyds and Royal Bank of Scotland.
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The European Securities Markets Authority announced this week that it had taken enforcement actions on a number of shortfalls by issuers in the way they calculate Deferred Tax Assets — capital relieving accounting instruments based on unused tax losses.
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Spreads on bank bonds have wound tighter this month on improved sentiment following more ECB stimulus, feeding greater optimism around banks' first quarter results.
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The Basel Committee has proposed scrapping internal models for large corporate and bank exposures – which could push big borrowers away from the loan market and into bonds. But the Committee kept quiet about its plans for a crucial ratio which will limit the total benefit banks get from internal models.
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Credit Suisse is marketing an insurance-linked security to hedge its operational risk, a class of losses which usually include rogue traders, fraud, and IT failures, at the same time as it announced an unauthorised build-up of positions in its illiquid and distressed trading businesses.