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Bankruptcy experts foresee unprecedented defaults ahead
The next economic downturn will be much more severe than the last financial crisis because firms have twice as much outstanding debt as they did in 2008, said a leading academic this week.
17 Oct 2019 -
People moves in brief
Nomura’s Cicchine heads for Deutsche — Macquarie finds head for new lending group — Citi promotes ECM bankers.
17 Oct 2019 -
Deutsche takes Nomura’s Cicchine for healthcare
Paolo Cicchine will join Deutsche Bank as vice-chairman of global healthcare coverage.
17 Oct 2019 -
Goldman slips up as JPM powers ahead
JP Morgan, Citi and Goldman Sachs kicked off the third quarter results season for investment banks on Tuesday. While debt and equity underwriting revenues grew substantially at JP Morgan compared with the equivalent quarter of last year, they fell at Goldman.
15 Oct 2019 -
Macquarie hires UBS’s Repaci to lead new levfin group
Macquarie Capital has hired UBS banker Vincent Repaci to head a new asset-based lending group to cover sponsor clients, supporting LBOs, refinancings and restructurings. He joins three other recent senior hires in leveraged credit at the firm.
14 Oct 2019 -
People moves in brief
UBS names levfin head — Mizuho finds four high yield bankers — Fintech firm Nivaura gives role to ex-HSBC syndicator
10 Oct 2019 -
Mackey to head levfin at UBS
UBS has appointed Sarah Mackey as head of leveraged finance for Europe, the Middle East and Africa.
10 Oct 2019 -
Mizuho picks up four HY bankers
A clutch of traders and sales bankers are joining Mizuho International within fixed income, focusing on high yield, investment grade, securitization and SSA.
10 Oct 2019 -
Rates desks seek CLO tranches for spare parts
Rates trading desks are seeking owners of triple-A European CLO tranches, because of the value of the embedded Euribor floors, which convert negative Euribor prints to 0%. These can be stripped out and sold to the market, monetising a feature of the bonds that has become sharply more valuable as euro interest rates have plunged this summer.
10 Oct 2019 -
People moves in brief
MUFG hires derivs head from HSBC — ex-Stan Chart chief to chair ICG — DCM banker goes to sustainable finance centre
03 Oct 2019
