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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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The new World Bank president used his first public statement to pledge to increase efforts to ensure China was more transparent in its lending to Africa. -
Nomura’s growth plan in its latest restructuring depends on sweeping away regional fiefdoms while finding greater consistency. History suggests this could be a tall order, writes David Rothnie.
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Cross-border bank M&A in Europe is not completely dormant. Mediobanca has bought two-thirds of Messier Maris & Associés and will also partner with the French corporate finance house.
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Nomura has put at risk a number of senior bankers in its Americas investment banking operation and refurbished its management team as part of a $1bn plan to cut costs. Senior names in M&A, leveraged finance, Latin America and risk solutions are leaving.
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Société Générale is looking at cutting around 1,600 jobs across the group, while also closing its over-the-counter (OTC) commodities business and proprietary trading firm.
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Emirates NBD (ENBD) has renegotiated the price it is paying to buy Turkish lender Denizbank from Sberbank after the fall of the lira since the deal was first announced last year. Some bankers have wondered how the acquisition will be financed, but ENBD has told GlobalCapital the bank will not raise debt to fund the deal.
