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Gordon Houseman moves firm four years after becoming partner
Changing one of IB bosses shows what Deutsche values
Executive has worked for the bank since 1998
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The Federal Reserve’s decision to start purchases of high yield exchange traded funds and ‘fallen angel’ cash bonds has boosted the tone in European high yield, with syndicate bankers flagging an open market for the right names and sectors. But issuers remain on the sidelines, and dual-currency companies may opt to tap the dollar market instead. -
The Federal Reserve on Thursday announced that the Term Asset Backed Lending Facility (TALF) will be expanded to include triple-A rated CMBS and CLO paper as eligible collateral, part of another sweeping set of relief measures to support the economy as damage from the virus pandemic mounts.
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Official financial lifelines to keep UK companies alive through the coronavirus pandemic are already having a tangible effect. Shares in Redrow, the UK housebuilder, rose 7.5% on Thursday morning after it announced it had been approved to borrow up to £300m from the Bank of England’s commercial paper facility for investment grade companies.
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Royal Bank of Scotland is pushing ahead with job cuts in its investment banking division, bucking a trend by big banks to delay restructuring plans and cost-cutting during the coronavirus crisis.
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The International Private Equity and Venture Capital Valuation Guidelines (Ipev) body has warned funds to take special care over quarter-end reporting and valuation of portfolios, so that marks for sponsor-owned companies reflect as well as they can the devastation of the coronavrius pandemic, rather than the benign conditions prevailing at the start of the year.
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Centerview Partners has appointed ex-Lazard rainmaker Matthieu Pigasse as head of its new French operation, as the boutique advisory firm expands in continental Europe with a 15-strong team.
