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Bank Strategy

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The likely bonus calendar for the Street, expectations and why it all matters
New plan involves hiring to make ECM and M&A revenues match DCM in three years
Ten months after its unusual regional retreat in equity capital markets and M&A, HSBC has had a good year in debt capital markets, suggesting its new strategy can work
New look corporate finance division has merged M&A and sponsor coverage
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  • Risk adverse equity capital markets banks have largely moved away from bidding for auctioned block trade activity in 2019, and are concentrating on large client-mandated business, which they can de-risk before they launch.
  • National Australia Bank has hired Ross McEwan as its new group CEO, as the bank seeks to improve its reputation after a damning report criticised its conduct.
  • Libya has paid in capital to become a shareholder in the European Bank for Reconstruction and Development, in a move that extends the development lender’s reach across the region.
  • Leaders of the big US investment banks were cautiously optimistic about upcoming investment banking activity, despite a poor second quarter across their capital markets divisions.
  • Crédit Agricole’s corporate and investment bank (CA–CIB) aims to be realistic in how offers value to clients and its parent company. It’s looking to achieve growth without overreaching in unprofitable or less strategic areas, writes David Rothnie.
  • SRI
    NatWest Markets, the investment bank owned by Royal Bank of Scotland, has launched its own environmental, social and governance deposit product, responding to a desire among companies, public bodies and investment firms to invest their cash ethically.