Bank Strategy - All articles

  • The end of the road for roadshows

    The shock of the Covid-19 coronavirus outbreak has forced some rapid thinking among capital markets participants. Almost the first impact has been on travel.

    • 27 Feb 2020
  • Corbat’s chief of staff moves to Europe

    Citi has reshuffled positions in its Europe, Middle East and Africa business, including forming a new position for crisis and climate risk and naming a new head for European businesses.

    • 27 Feb 2020
  • UBS goes for ‘one firm’ approach to improve IB

    Sergio Ermotti’s call for improvement in UBS’s investment bank could be undermined by the arrival of his successor as chief executive, writes David Rothnie.

    • 27 Feb 2020
  • Metro launches new strategy, plans to issue more MREL

    Metro Bank is looking to become a more profitable institution after launching a review of its strategy this week, but the lender still faces the challenge of having to raise a further £500m of debt to meet its capital needs.

    • 26 Feb 2020
  • Regulator to launch climate "stress tests" for Aussie banks

    The Australian Prudential Regulation Authority (APRA) outlined plans to develop and impose "vulnerability assessments", or stress tests, to evaluate the resilience of Australian banks to the effects of climate change.

    • 24 Feb 2020
  • Top banks culled 1,700 equities jobs last year

    Twelve of the largest global investment banks reduced their headcounts in equities by 10% last year, leading to one of the “steepest declines in years” in the number of investment bank employees, according to analytics firm CRISIL Coalition.

    • 21 Feb 2020
  • Intesa fires starting gun on new phase of Italian bank consolidation

    Intesa Sanpaolo took the market by surprise when it launched a takeover bid for UBI Banca this week. A successful deal could set off a long overdue wave of mergers and acquisitions within the Italian banking sector, which ECM bankers are hoping will be financed through a slew of new rights issues. Tyler Davies and Sam Kerr report.

    • 20 Feb 2020
  • HSBC’s restructuring: is it enough though?

    HSBC’s corporate finance staff have survived its restructuring largely unscathed, but the more ambitious among them will see the bank’s plans as a missed opportunity, writes David Rothnie. And with no answer yet on the identity of the next full-time CEO, the uncertainty is not over.

    • 20 Feb 2020
  • UBS cuts Spanish business as Orcel legacy hangs heavy

    UBS has made several senior staff in Spain redundant, including Madrid-based DCM managing director Daniel Vazquez Villanueva, GlobalCapital understands. The cuts came as part of a general redundancy round last year, but revenues from the region have been hurt by a hard stop in business from Santander after it decided not to hire former UBS investment banking boss Andrea Orcel as chief executive.

    • 20 Feb 2020
  • UBS plumps for an outsider to replace Ermotti

    A lack of credible internal candidates and a desire for stability across its divisions led UBS to cast the net wider to find a successor to chief executive Sergio Ermotti. It has appointed ING CEO Ralph Hamers.

    • 20 Feb 2020
  • JP Morgan appoints new heads of IB, DCM, ECM, M&A

    JP Morgan has promoted a whole new layer of leadership in its investment bank, reaching down to debt capital markets, equity capital markets and M&A. At the top of the tree, Carlos Hernandez has moved from being head of global investment banking to executive chair and has appointed new co-heads of global investment banking.

    • 18 Feb 2020
  • ECM and cash equity trading unaffected by HSBC cuts

    HSBC will not be making cuts to its equity capital markets or its equity trading capabilities after announcing the results of a strategic review on Tuesday. The bank will be reducing headcount in sales and research, but said that its execution ability in ECM will not be affected in any way.

    • 18 Feb 2020
  • HSBC plans to slim down rates, derivs, equities in Europe

    HSBC’s new strategic plan involves numerous changes to its investment banking division, including shifting resources to Asia and the Middle East, reducing the scale of many operations in the European markets business, and combining product functions with commercial banking.

    • 18 Feb 2020
  • Rose to prune NatWest Markets, take secateurs to rates

    Royal Bank of Scotland — or NatWest Group, as it plans to rebrand itself later this year — is set to cut back risk-weighted assets in the investment bank, particularly in rates. The bank also committed to stricter lending and underwriting criteria for fossil fuel companies.

    • 14 Feb 2020
  • Staley’s Epstein links mar Barclays’ solid CIB results

    Barclays posted another strong set of returns from the corporate and investment bank (CIB) on Thursday, but the disclosure that UK regulators are investigating chief executive Jes Staley’s relationship with the late sex offender Jeffrey Epstein was described as a “red flag”.

    • 13 Feb 2020
  • EU to discuss candidate for EBRD head

    EU member states plan to agree on a common candidate to succeed the UK’s Suma Chakrabarti as president of the European Bank for Reconstruction and Development after his term ends in May. France, Italy and Poland have each put a name forward.

    • 13 Feb 2020
  • Banks jostle for position in sustainable M&A revolution

    Nomura has made sustainability one of the pillars of its fightback in investment banking, as it joins the race to harness the power of sustainability-related M&A and capital markets deals.

    • 13 Feb 2020
  • Thiam quits Credit Suisse on fixed income high

    Credit Suisse has reported a strong end to last year for fixed income sales and trading, in chief executive Tidjane Thiam’s last week in the job.

    • 13 Feb 2020
  • Investec makes five hires and continues broking push

    Investec has furthered its push in corporate finance with five new hires. It continues to win new UK broking mandates.

    • 13 Feb 2020
  • Wells Fargo gives CIB new leader and more prominence

    Wells Fargo has reorganised its group structure, including hiving out its corporate and investment bank as a separate business line and giving it a new leader.

    • 12 Feb 2020
  • Gottstein may play better with Credit Suisse’s investment bankers

    Credit Suisse’s outgoing chief executive Tidjane Thiam thought he could win the power struggle against chairman Urs Rohner but he overlooked the real power broker — Severin Schwan.

    • 10 Feb 2020
  • US natural gas exposure hits Natixis

    Natixis, one of the investment banks that has gone furthest to prioritise greener financing, had to ramp up its provisions for credit loss from US natural gas producers in the fourth quarter, pointing to “structural transformation” in the sector. But it told GlobalCapital that it still saw opportunity in the industry.

    • 07 Feb 2020
  • CS shares drop but analysts sanguine after Thiam exit

    The departure of Tidjane Thiam as chief executive of Credit Suisse on Friday caused the bank’s share price to fall, but analysts believe the firm’s strategy is likely to remain largely unchanged.

    • 07 Feb 2020
  • Goldman’s growth plan faces Europe test

    As Goldman Sachs hunts for incremental gains in its investment banking division, it need look no further than its European franchise, where it continues to trail JP Morgan, writes David Rothnie.

    • 06 Feb 2020
  • SG keeps lid on costs after restructuring

    Société Générale grew revenues while keeping costs steady in its markets and investor services activities in the fourth quarter. Bondholders will have also welcomed a boost to the bank’s capital ratio.

    • 06 Feb 2020
  • UniCredit surges after 2019 results, Yapi Kredi sale

    Shares in UniCredit, Italy’s largest bank by assets, closed 8.1% higher on Thursday after the bank cut its stake in Turkey’s Yapi Kredi, while announcing a dividend increase and a share buy-back.

    • 06 Feb 2020
  • Quinn picks his chief of staff as HSBC regional boss

    Stephen Moss and Nuno Matos have been given new roles of responsibility for Europe at HSBC, ahead of expected restructuring of the group in that region, particularly in global banking and markets (GBM).

    • 05 Feb 2020
  • BNP Paribas expects CIB growth in 2020

    BNP Paribas expects to buck the trend of malaise at European investment banks and grow its revenues this year, it said in its fourth quarter results on Wednesday.

    • 05 Feb 2020