News content
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Deutsche Bank has hired from ING to replace a recent departure in its Latin American debt capital markets team, and the German bank’s head of LatAm DCM told GlobalCapital that he hoped to build around the new hire.
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Moelis & Co supercharged its capital markets team last year just in time to take advantage of the booming market for special purpose acquisition companies (Spacs). But as the craze subsides, the team continues to expand, with the firm looking to generate repeat business from clients that appreciate its product-agnostic approach.
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NatWest Group said on Friday that the “reshaping” of its investment banking arm, NatWest Markets, would be largely complete by the end of the year, after it moved a further 500 staff out of NWM in the second quarter.
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It has been an earnings season of rebounds. UBS, the first of the European investment banks to report its results for the second quarter of the year, used the word “rebound” three times in its earnings report, which it published on July 23. Since then, BNP Paribas has pointed to an “established rebound” in its results while HSBC has reported a “rebound” in profits in the US and Europe.
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Berenberg has hired a fourth senior equity syndicate banker to cover France and southern Europe, amid big plans to expand its investment banking business, with new offices and teams in Brussels and Stockholm.
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Bank of America has hired Uday Malhotra back from Goldman Sachs as head of leveraged finance origination in EMEA in London, while Eddie Martin, a managing director in the division, is relocating to the US.
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Andrea Orcel is looking to clinch a deal for Unicredit to acquire parts of stricken Italian lender Banca Monte dei Paschi di Siena (MPS) in the early part of September after revealing it was negotiating with the Italian government.
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Investment banks are broadening the search for talent and tweaking their recruitment message to attract and retain the bankers of the future, as working conditions and corporate culture emerge as hot topics after a difficult period for staff in the industry.
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After several quarters of strong performance among European investment banking businesses, there are signs that firms are satisfied with cost cutting measures and are prepared to resume investment instead.
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Lloyds Bank has formulated a succession plan to prepare for the departure of Allen Appen, its head of bond financing, as another senior figure prepares to leave its debt capital markets group.
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The Loan Market Association (LMA) and the European Leveraged Finance Association (ELFA) jointly released a best practice guide for sustainability-linked loans on Wednesday. The guidance is aimed specifically at the leveraged loan market and stresses the importance of agreeing on clearly defined key performance indicators ahead of announcing a SLL.
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Barclays has made several further promotions across its capital markets and M&A teams in London and New York, a week after rolling out a new global investment banking management structure.
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Standard Chartered has launched an apprenticeship programme that is open to school leavers without academic qualifications as it seeks to bring more diversity to financial markets.
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US-style Spac IPOs will soon be possible on the London Stock Exchange following a review by the Financial Conduct Authority, although the changes come at a time when the vehicles have fallen increasingly out of favour with investors.
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SMBC has beefed up its coverage of the technology sector with the addition of two senior bankers in San Francisco who previously worked together at HSBC.
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Crédit Agricole has hired the former head of Santander's global banking and corporate finance business, Georg Orssich, in a regional management position.
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Barclays has elevated Jean Francois (JF) Astier and John Miller to co-heads of investment banking as part of a raft of promotions in New York that also include the appointments of Kristin Roth DeClark and Taylor Wright as global co-heads of capital markets.
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The European Commission will have completed a legislative proposal for the finalisation of Basel III by early October, according to a new agenda published this week.
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Barclays has promoted from within to fill the role of head of investment banking for continental Europe that has been vacant since Carlo Calabria left earlier this year to concentrate on a special purpose acquisition company.
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Reinout Böttcher is leaving UBS, where he was head of global banking for Switzerland, for a vice-chair role at JP Morgan in Zurich.
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Charlotte Weir is leaving Barclays after more than 20 years with the firm, most recently as head of corporate debt capital markets in EMEA, for a job at another bank in London.
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Credit Suisse has filled six roles in its sustainability strategy, advisory and finance (SSAF) group, headed by Marisa Drew, including a global head of net zero strategy.
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As Western companies operating in Hong Kong await the details of a warning from the US State Department about the risks of doing business in the special administrative region, analysts say the growing rift between China and the US is putting HSBC in an especially uncomfortable position.
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Japan’s Sumitomo Mitsui Financial Group has formed an alliance with Jefferies and is providing the US investment bank with capital to pursue its ambitions in leveraged finance.
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The Financial Conduct Authority has helped to put the UK at the forefront of financial innovation with its pioneering regulatory sandbox programme. While it has inspired similar schemes in various jurisdictions, its next big challenge is to implement this concept across borders.
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UniCredit’s CEO Andrea Orcel has revealed further refinements to the bank’s organisational structure that are aimed at increasing the independence of its new regional divisions.
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A veteran of some 27 years at Nordea will leave this year to become the Nordic Investment Bank’s CFO.
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US investment banks enjoyed a boost in earnings from their M&A bankers in the past quarter as a flurry of deal making made up for a return to more normal levels of debt issuance and trading.
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Goldman Sachs celebrated its second highest ever firm-wide quarterly net revenues, net earnings and earnings per share on Tuesday. It set the as-yet unbeaten net revenue record in the first quarter of the year.
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Investec has hired two new staffers to its growth and leveraged finance team, after launching an inaugural direct lending fund at the start of 2021.
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Simon Denny, whom Barclays hired as head of banking for South Africa in 2019, is no longer with the firm.
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As capital markets bankers gradually start to spend more time back in the office, a nuanced debate is playing out over how much flexibility they can expect to enjoy with regard to remote working when pandemic restrictions are finally lifted.
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Agence France Trésor, the French sovereign debt office, has appointed a new chief executive to replace Anthony Requin, who has stepped down after six years in the role.
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HSBC Asset Management has created a new sustainability office as part of a refresh of its responsible investment team after the departure of Melissa McDonald, head of responsible investment.
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Santander has appointed a new head of sustainable capital markets in London: Victoria Land, until recently head of APAC sustainable banking at Crédit Agricole in Hong Kong.
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Frank Drouet, who left Société Générale's global markets business in 2019 after 30 years, has landed a role at rival Crédit Agricole.