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Corporate broking relationships endure for decades and build deep roots between both individuals and institutions, enabling banks to win outsized revenues from clients they serve. No wonder that a new crop of banks are expanding their ambitions
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
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The Swiss bank’s investment in its M&A business is targeting both ends of the deal spectrum, writes David Rothnie. -
Citic Securities is consolidating its Hong Kong-based units to create a single platform for all its offshore businesses under the CLSA brand, with a committee being formed to complete the process within 12 months.
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Banks may lose out to other market players in competition to buy Commerzbank’s structured investment and ETF businesses, which will be on the market from next year, once they have been carved into a new entity. But investment banks are likely to be in pole position for the German bank’s exotic FICC derivatives book, also up for sale.
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October’s $500bn deal bonanza may have been the biggest monthly total for over a decade but global M&A actually peaked a year ago, writes David Rothnie.
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ANZ has undergone a number of changes since Shayne Elliot took over as CEO a year ago, raising questions about the bank's commitment to Asia. But ANZ has not given up its ambitions to be Australia’s most international bank and Asia remains a key part of that strategy, Farhan Faruqui, head of international institutional business, said this week.
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ANZ is selling its retail and wealth businesses in some countries in Asia to DBS as CEO Shayne Elliot continues to restructure the bank's operations outside of Australia. The bank says the move will allow to focus more resources on institutional banking but comes in the wake of decision to cut jobs in the division.
