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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 junior debt of Banca Monte dei Paschi di Siena rallied strongly on Wednesday on reports the Italian government was preparing to buy €2bn of subordinated bonds from retail investors, support which could potentially avoid the European Commission’s onerous state aid rules. -
In the fourth and final part of our annual awards we reveal our choice for Best Asian Investment Bank and Best Investment Bank.
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German investment giant Allianz Global Investors has bought US alternative investment manager Sound Harbor Partners for an undisclosed sum.
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Credit Suisse’s catastrophe bond protecting the bank from its own operational risk losses cut more than Sfr1bn from risk-weighted assets in the bank’s Global Markets unit, following an improvement in regulatory treatment. But the Basel Committee looks set to close off this route to cutting capital costs.
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Italy’s Mediobanca is adapting its approach and preparing for European expansion, following a hiring spree in its corporate finance division, writes David Rothnie.
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The European Central Bank is expected to announce a six month extension of its Covered Bond Purchase Programme when it meets on December 8. However, as the programme may end after that, credit curves could steepen and spreads could widen next year. GlobalCapital spoke to a number of funding officials and other bankers to gauge their views on the topic.
