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Banks welcome UK’s relaxed prospectus rules as IPO pipeline swells
Originator hired to go after bank bond issues in euros and dollars
With Sergio Ermotti set to step down as group CEO, chairman Colm Kelleher favours an orderly, internal succession. But in a critical year for the bank, there could be turbulence ahead
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Poland's Bank Pekao is planning to tap the Eurobond market for the first time in 2020, in order to set down a senior benchmark for the subsequent issuance of capital ratio raising bonds, according to Pawel Rzezniczak, head of investor relations and corporate development at the bank. -
Big banks and boutiques alike are ramping up operations to boost revenues in France, Europe’s most competitive investment banking market. But is there enough business — and talent — to go around? By David Rothnie.
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Michael Reuther, head of Commerzbank’s corporate clients division, expects more firms to enter the bank’s "intensive care department" as economic pressures weigh on European corporates. And in his unit the cost of risk more than tripled in the second quarter, helping to shrink operating profits.
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Commerzbank has appointed its first head of syndicated and leveraged finance, a unit created within its new capital markets division.
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John Flint quit his position as CEO of HSBC on Monday after less than two years in the job, as the bank warned of difficult global conditions in its second quarter results. The bank’s chair Mark Tucker implied the desire for change related to a problem with Flint’s execution of the bank’s strategy, rather than the strategy itself, but the departure has also raised questions about HSBC’s Chinese operations.
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The focus was on costs in the second quarter results of BNP Paribas and Société Générale’s investment banks, announced this week. BNP Paribas managed to keep a lid on expenses and could boast of "positive jaws", but SG took on a big charge from its restructuring.
