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North America

  • 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.
  • Wells Fargo has informed staff in the US that it is delaying the reopening of its offices in the country as a result of rising Covid-19 cases.
  • Banks are seeing light at the end of the tunnel as they emerge from major cost cutting exercises at the same time as economies around the world begin to emerge, erratically, from pandemic restrictions. Now the question is whether there will be enough capital markets business to go around.
  • 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.
  • TechnipFMC, the French-US energy technologies group, executed on Thursday night its second block sale of shares in Technip Energies, the engineering and construction subsidiary it span off in February. Despite the holiday season, the parent achieved a fractionally higher price than in the last trade and a significantly tighter discount.
  • It is difficult these days, if not impossible, to find a bank that does not have an official policy or target to boost diversity and inclusion. By pushing them out of their comfort zones, could the pandemic help finally turn these aspirations into reality?
  • Morgan Stanley ventured north of the 49th parallel this week to visit a Maple bond market that is on course for its busiest year for financial institutions issuance since the 2008 financial crisis.
  • 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.
  • Export Development Canada (EDC) sold the first offshore Chilean peso bond of the year as it dropped into the currency in search of short dated borrowing earlier this week.
  • Aligning with a global commercial bank has been on Jefferies’ agenda for several years, but its alliance with SMBC signals an intent to join the investment banking big league. By David Rothnie.
  • Canada’s Equitable Bank covered programme received legislative approval this week, paving the way for a debut deal in the coming months.
  • The Province of Ontario received a strong reception in the Canadian dollar market on Tuesday, helping it to issue its biggest ever green bond in the currency.
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