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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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Activist shareholder Edward Bramson’s Sherborne Investors Management has made a detailed critique of Barclays’ markets business in a letter penned to shareholders, saying it did not have enough support from asset management or corporate banking operations to work well. -
The executive chairman of Nomura’s Middle East and North Africa business is among those set to leave the firm as part of a big restructuring. Senior bankers in EMEA capital solutions and convertibles are at risk of redundancy
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Data modelling firm Simudyne, which uses an innovative approach to simulating market scenarios, has said its technology will help banks execute trades, as different asset classes grapple with algorithmic trading and risk predictions. The company has closed a new round of fundraising led by Barclays.
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Amir Hoveyda, UBS’s global head of debt capital markets, is stepping down from his job at the firm.
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Citigroup has won a prestigious mandate to help Pimco buy £4.8bn of mortgages from the British government’s bad bank, UK Asset Resolution. It was victorious partly because it was able to get comfortable with holding the ‘risk retention’ in the deal, something only Barclays and Goldman Sachs have done so far. With UKAR gearing up to sell its last £8bn of assets and shut up shop, other banks may need to follow suit. Owen Sanderson reports.
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UniCredit will seek to ensure it hits its 2019 financial targets before going ahead with a bid for Germany’s Commerzbank, if the latter’s talks with Deutsche Bank collapse.
