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Financial institutions specialist heads to German bank
New system starts with nearly 100% coverage of trading data
Europe’s regulator proposes preserving capital requirements while trimming the complexity that hampers cross-border M&A
Banks face an uncertain future as finance goes digital
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Natixis posted solid results on Thursday as it reported a 26% increase in net income, and confirmed the close of its ‘bad bank’ GAPC at the end of June. -
UBS reported this week that its DCM revenues for the second quarter were up 50.8% on the year — an incredible performance relative to its peer group and to the broader market. It credits US leveraged finance for much of the increase, but in Europe, bank capital raising was the sector which stood out.
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Moody’s changed its outlook on the Swiss banking system to negative on Thursday. The change was driven mainly by the Swiss regulator’s move towards implementing a new bank resolution framework allowing the bail-in of creditors of failing banks.
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BNP Paribas was in the spotlight on Thursday as it posted the largest loss in its history, but underneath the red numbers — caused by a huge fine for violating US sanctions — was a very strong performance.
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JP Morgan has slashed its European financial institutions debt capital markets operation, taking three senior members off the team. All three are understood to still be employed by the bank.
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Sustained cost-cutting allowed UBS to report almost a 20% increase in profits on Tuesday. By cutting expenses the bank was able to shrug off declining profits in its investment bank and wealth management business.
