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Artificial intelligence is changing the investment banking game. But banks are divided on whether to cut costs or try and win more deals
Ex-Crédit Agricole banker to be based in Paris
Édouard Sauce had been with the firm for almost a decade
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Philip Hertlein, the former head of SSA origination and syndication at LBBW, has joined BNP Paribas’s public sector debt capital markets desk.
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Axiom Alternative Investments has launched a new long/short global high yield fund, following the hire of Gilles Frisch as a portfolio manager last year, targeting the opportunities that will come through at the end of this credit cycle.
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The European Leveraged Finance Association has called for better transparency in high yield covenant packages, arguing that clarity is crucial for pricing risk. The call comes shortly after one of the largest covenant climb-downs in recent market history, when lead banks on ThyssenKrupp Elevator stripped many of the most controversial terms from the €8bn financing.
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Nicholas Sossidis and Stephen Partridge-Hicks, the founders of investment manager Gordian Knot and pioneers of structured investment vehicles, are planning the firm’s comeback in the securitization market, with a new venture focused on corporate receivables ready to launch.
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François-Louis Michaud was approved as the next executive director of the European Banking Authority on Wednesday. The EBA’s previous choice was rejected by parliamentarians, and this nomination faced scrutiny too over gender balance.
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Philip Brown and Sanaa Mehra are leading a new unit at Citi, the latest the bank has designed for its sustainable finance business.
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