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Five months in, Alessandro Melzi is getting started on the plan, but his boss is about to change
The launch of a €35bn exchange offer for Germany’s Commerzbank marks a decisive attempt to break a stalemate that has frustrated Andrea Orcel in his quest to turn UniCredit into a pan-European banking champion
Bank strives for ‘complete global offering’ in M&A and ECM but market conditions hang in the balance
‘New kid on the block’ disrupts established order with lead role on Schroders takeover
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The large British banks have just completed one of the most complex structural reforms they’ve ever undertaken, severing their UK retail businesses from their wholesale operations to meet ringfence regulations. The sheer disruption of the changes has led competitors to scent blood, while the UK banks have been anxious to reassure their clients that nothing will change. -
The Japanese bank has revamped its investment banking division as it looks to boost efficiency and grow revenues following a grim first quarter and cuts in global markets.
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Bank of America Merrill Lynch has made sweeping changes to its European equity capital markets franchise and has hired Credit Suisse’s Jerome Renard for a new position of head of EU ECM.
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ABN Amro said on Wednesday that it would cut staff and risk-weighted assets from its corporate and investment banking business, aiming to push return on equity at the unit from 5.8% in the first half of this year to above the bank’s 10% target.
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Barclays has hired Dean Galligan from Goldman Sachs as head of cross asset structuring solutions.
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The bank’s creation of a new senior banker layer comes as big banks struggle with a talent brain drain, writes David Rothnie.
