Bank Strategy - All articles

  • HSBC halts job cuts in response to Covid-19

    HSBC has put its mass redundancy plan on hold as its seeks to limit the impact of the coronavirus crisis on its staff.

    • 30 Mar 2020
  • Société Générale: French ECM’s serial winner

    For consistency and execution, Société Générale is GlobalCapital’s best bank for equity capital markets in France and Benelux.

    • 27 Mar 2020
  • HSBC builds up converts into success story

    HSBC entered Europe’s top three in the equity-linked league tables in 2019, capping a multi-year rise with a series of firsts and eye-catching deals.

    • 27 Mar 2020
  • ABN Amro suffers $200m loss as another strat bites the dust

    Another derivatives strategy has fallen foul of volatile trading conditions, as ABN Amro on Thursday declared a $200m net loss as a result of the blow-out of a client’s positions.

    • 26 Mar 2020
  • Your country needs you, investment bankers

    The 2008 financial crisis forged a generation of investment bankers well versed in advising governments — and with many having returned to banking, they are likely to be in demand again. But history suggests banks will not be earning lucrative fees, writes David Rothnie.

    • 26 Mar 2020
  • Cash-rich firms shun bonds, poor beg for loans

    Corporate funding markets have been thrown into turmoil faster than anyone can remember by the aggressive onslaught of the coronavirus and government measures to put society in emergency shutdown. Borrowing costs have soared for all firms, but markets are not closed. As Jon Hay, David Rothnie and Silas Brown report, the coming weeks will sort those that can still raise cash from those that need rescuing.

    • 19 Mar 2020
  • Covid-19 trading boost mitigates pressures at big investment banks

    The biggest investment banks are enjoying strong trading revenues from the market moves related to the coronavirus pandemic, alleviating a freeze in M&A and underwriting activity. The banks appear well-placed to deal with corporate drawdowns, although there is some debate around wider liquidity profiles.

    • 19 Mar 2020
  • Debt advisers called up for liquidity battle

    Firms across Europe are clamouring for crisis funding but while debt advisory bankers have joined the frontline in finding solutions some admit they may struggle to cope with the sheer scale of the challenge, writes David Rothnie.

    • 19 Mar 2020
  • HSBC brings CEO search to a close, appoints Quinn to top job

    HSBC’s hunt for a group chief executive has ended where it began, with the bank appointing interim boss Noel Quinn on a permanent basis.

    • 18 Mar 2020
  • Soon we’ll know what 'relationship banks' are really worth

    Since the financial crash, the crucial part of relationship banking has been pretty straightforward: offer borrowers cheap cash and become a core lender, then pitch for ancillary business. But the disastrous effects of Covid-19 on corporate finance mean that cozy relationships will be tested, with companies under pressure and in serious need of extra cash. We’ll soon know which relationships were real and which were not.

    • 17 Mar 2020
  • AIIB re-opens Beijing headquarters following Covid-19 lockdown

    The Asian Infrastructure Investment Bank re-opened its headquarters in Beijing on Monday after being shut for weeks as a result of the outbreak of the coronavirus, which began in China but quickly spread across the world.

    • 17 Mar 2020
  • Banks prepare for mass RCF drawdowns despite borrowers' qualms

    The coronavirus crisis is shaking up companies' financing arrangements in the most drastic way since the 2008-9 financial crisis, as firms strive to secure liquidity for what are likely to be many tough months. So far there have been only a few high profile cases of companies drawing down revolving credit facilities, but this is expected to grow, as long-established norms crumble and new patterns emerge.

    • 17 Mar 2020
  • Capital markets firms activate disaster plans

    As the coronavirus pandemic threatens every facet of capital markets activity, trading floors and back offices have emptied in recent days, leading to questions about how efficiently business can be done from home and alternative sites, write Paola Aurisicchio, Jasper Cox, Jennifer Kang and Ross Lancaster.

    • 12 Mar 2020
  • Investec pulls asset manager IPO amid market meltdown

    Investec Group has cancelled the IPO of its asset management division Ninety One due to extreme market volatility, although the listing and demerger of the unit will still go ahead as planned, according to a stock exchange filing.

    • 12 Mar 2020
  • Pandemic threatens M&A pipeline

    The coronavirus will depress mergers and acquisitions activity, hurt advisory revenues and change the emphasis of deal-making in 2020, writes David Rothnie.

    • 12 Mar 2020
  • Italian, UK banks freeze mortgage payments to stabilise virus fallout

    Italy has announced a freeze on mortgage payments following the implementation of a nationwide lockdown to deal with the spread of the Covid-19 coronavirus, with RBS offering similar mortgage relief to those affected by the outbreak in the UK.

    • 10 Mar 2020
  • Hiring on hold as banks battle virus impact

    Investment banks are said to be freezing hiring plans in capital markets, as the impact of the coronavirus epidemic slashes new issuance volumes and expectations for the year ahead. Some institutions are also said to be using the virus as an excuse to push through planned cuts to banking businesses.

    • 10 Mar 2020
  • Market awaits BoE moves to help corporates hit by Covid-19

    The Bank of England may soon tweak its macroprudential policies and introduce a new funding scheme for banks to mitigate the economic impact of the Covid-19 coronavirus epidemic on companies. The measures would help lenders at a time when they could face pressure from lower rates and rising impairments.

    • 05 Mar 2020
  • HSBC creates GBM unit to ditch RWAs

    Thierry Roland has been picked to lead HSBC’s new RWA Optimisation Unit, where the bank will put assets that do not meet its return requirement.

    • 05 Mar 2020
  • JP Morgan seeks solution for deal-making big dogs

    JP Morgan’s latest high-level reshuffle has put a crack team of dealmakers at the top of the firm, and opened room for new leaders to come up. But keeping senior bankers happy can be difficult, writes David Rothnie.

    • 05 Mar 2020
  • HSBC to join up securities services and markets

    HSBC is moving its securities services business into global markets to create a new unit. Allegra Berman and Richard Godfrey, co-heads of securities services, will gain new responsibilities as part of the change.

    • 04 Mar 2020
  • Mazi and Bibbey take over as El Hayek leaves HSBC

    HSBC has made Mehmet Mazi global head of debt trading and financing, a newly created position. It comes after the departure of Elie El Hayek, a veteran of the bank who had run fixed income.

    • 03 Mar 2020
  • Perella Weinberg sets up Munich base

    Boutique advisory firm Perella Weinberg Partners has chosen Marcus Schenck and Stefan Jentzsch to lead a new office in Germany.

    • 03 Mar 2020
  • Domann joins MUFG for structured solutions

    Roland Domann has moved to MUFG to be part of its European sales and distribution team, just months after being hired by Nomura.

    • 03 Mar 2020
  • New losses at Novo Banco prompt further Portuguese state aid

    Novo Banco is requesting €1.037bn from the national resolution fund in Portugal in an effort to cover losses incurred on some of its assets. The majority of the financing is likely to come from the Portuguese state.

    • 02 Mar 2020
  • AIIB makes adjustments to operations amid Covid-19 outbreak

    The Asian Infrastructure Investment Bank, the Beijing-based supranational, has had to adapt fast to prevent its lending and funding operations being disrupted by the spread of the Covid-19.

    • 02 Mar 2020
  • Bramson calls on Barclays to fire Staley

    Activist investor Edward Bramson has called on Barclays not to renew chief executive Jes Staley’s contract over his links with dead sex offender Jeffrey Epstein. He also questions the bank’s corporate broking relationship with JP Morgan.

    • 02 Mar 2020