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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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Technology M&A will continue to power corporate finance activity in 2019 but, as deals increasingly cross sectors, banks are having to re-tool their coverage and break up internal silos, writes David Rothnie.
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EU banks have drastically reduced their non-performing exposures over the past year, and the weakest lenders in terms of provisioning shortfalls are not from Europe’s periphery, according to research by Axiom Alternative Investments. However, two banks named as some of the worst performers disagreed with this label. -
Kensington Mortgages has renewed a warehouse line of credit with BNP Paribas and Citibank, giving it the ability to fund nearly £1bn worth of new originations.
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Santander has said it would not be hiring Andrea Orcel as group chief executive after all, because the cost of buying him out of previous compensation awarded at UBS would be too high. But sources close to and away from the situation said that the Spanish bank under Orcel would have also looked to poach other senior UBS employees, potentially sending the buy-out bill spiralling.
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Mitsubishi UFJ Financial Group has appointed Jason Mann as European head of financial institutions DCM, a role which will be based in a branch of the bank’s new subsidiary, established to prepare for Brexit.
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China’s activity in central and eastern European (CEE) lending and investment is set to swell further in 2019, as its banks and other financial institutions extend their reach.
