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Bankers fired when HSBC closed its European M&A and ECM business at the start of the year are resurfacing as big banks plug holes and target mid-market deals
Big volumes as emerging market desks bear big changes
CEO’s departure comes ahead of business’s full integration into German bank
Reorganisation changes reporting lines
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UniCredit’s chief executive, Jean Pierre Mustier, moved fast this week to sell €1bn of stock in FinecoBank, the Italian bank’s online brokerage, after a decision to deconsolidate the unit. Many in the market see UniCredit's accelerating asset sales as an effort to boost its capital position before exploring M&A opportunities in 2020. Aidan Gregory reports. -
The European Investment Bank is preparing to launch a new entity — potentially called the European Bank for Sustainable Development — that will focus on sustainable projects outside the EU, GlobalCapital understands.
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Plans by the EBRD to enter sub-Saharan Africa have been criticised by delegates at the annual meeting for taking on more responsibilities at a time when they have not completed their tasks in their original areas of operation
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The formal separation of FinecoBank, the Italian online brokerage, from UniCredit has begun with Italy’s biggest bank selling almost half stake to institutional investors via an equity block trade – a strategy UniCredit has used numerous times in the past to shed non-core assets under its CEO Jean-Pierre Mustier.
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Société Générale’s financing and advisory operations again produced strong revenues in the first quarter, according to results announced on Friday. Revenue in global markets and investor services fell, however, and here the bank is slashing risk-weighted assets, to refocus its business.
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The vast majority of Barclays’ shareholders declined to support activist investor Edward Bramson’s bid to put himself on the board of the bank at its annual general meeting on Thursday.
