Goldman Sachs

Asia ex-Japan debt capital markets had a quiet opening on Monday, with a sole Chinese local government financing vehicle (LGFV) out for dollar funding. On the same day, another two LGFVs announced mandates.

The Monetary Authority of Singapore (MAS) has fined two more banks and sanctioned a former Goldman Sachs executive for breaches related to the disgraced Malaysian sovereign wealth fund 1MDB.

The busy equity block trade action in Europe since the US election has continued into its third week, though market participants are beginning to brace for the outcome of the Italian referendum on Sunday.

Tonight, Apax and Guardian Media Group are selling another 15% of Ascential, the UK events and publishing company, while Anglo-American is divesting its entire stake in Exxaro, the South African coal miner.

Citi and Goldman Sachs executed a clean-up trade for SK Telecom in South Korea’s Posco on Monday, with the club deal raising W307.9bn ($261.9m).

Goldman Sachs has appointed Andrew Lyons and Matthew Ross as co-heads of Australia equity research alongside Matthew McNee.

UBS had no trouble getting involved in the nascent trend for one year callable senior bonds this week, joining an already long line of similar deals from US banks. It won’t be the last we see of the TLAC-friendly structure, as Standard and Poor’s, regulators and investors all seem to be giving their approval. The new format is set to become a mainstay in Europe’s constantly shifting senior bank debt market.

Michael Sherwood’s influence and popularity at Goldman Sachs cannot be overstated and the bank’s European business has lost its talisman, writes David Rothnie.

SES, the Luxembourg-based satellite operator, issued its second hybrid bond of the year on Tuesday as it pounced on a calm day in the euro corporate bond market and captured an increase in risk sentiment.

The euro market for public sector borrowers repoened on Tuesday as a pair of issuers took advantage of calmer conditions since the US election on November 8 to raise nearly €2bn in total — both paying small new issue premiums.

KfW was able to increase from its original size target and tighten pricing on Tuesday with the first public sector dollar bond of over $1bn since the election of Donald Trump as US president.

Michael Sherwood, co-CEO of Goldman Sachs International since 2005 and probably the most senior and highest profile investment banker in London, announced his retirement from the firm on Monday, after 30 years at the bank.