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Executive has worked for the bank since 1998
Bank’s quest to regain its former status in Europe is making headway, after heavy investments
Hire follows senior bankers quitting
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Invesco changes fixed interest line-up — BofA makes Slowey equities head — NordLB hires two for DCM -
Invesco has changed the line-up of its fund managers across a number of fixed interest funds, with Paul Read, co-head of fixed interest, stepping down from several funds.
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Several companies boasting Big Four accounting firms as auditors have emerged as fraudulent, leading many to wonder what value auditors bring to an investors' understanding of a company. The big issue is that auditors have little obligation to detect fraud at companies they audit, and neither it seems does anyone else. Until they do, investors need to stop believing a Big Four sign-off is a seal of approval. In fact, for a system supposedly built with its own reputation in mind, developed markets have offered investors very little protection.
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The US Alternative Reference Rates Committee (ARRC) has updated its reference rate guidance for the move away from dollar Libor that removes the need to get a lending syndicate’s consent. But trade bodies on both sides of the Atlantic do not agree on the details, writes Mike Turner, and some lawyers claim that major issues still need to be addressed before the ARRC-recommended method can work.
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Andreas Petrie, who is thought of as being a key figure in cultivating the Schuldschein market into an established corporate alternative to bonds in Europe, is to retire at the end of the year.
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First Eagle Alternative Credit is expanding into asset-based lending, hiring Larry Klaff and Lisa Galeota to lead the new effort.
