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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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Following a stress test result that saw its stressed capital ratio dip into negative territory, Monte dei Paschi di Siena is once again turning to heavy duty financial engineering to save its skin, with a giant non-performing loan securitization — the largest ever structured — to clean its balance sheet and unlock a €5bn rights issue. The bank, however, has a tradition of relentless innovation in finance, which hasn’t always served it well.
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Jean-Pierre Mustier’s had a busy first month at UniCredit. Already, the new CEO has launched a strategic review, sold 10% each of FinecoBank and Bank Pekao, made a host of senior appointments and scrapped two-year-old talks with Santander about combining their asset management businesses.
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New UniCredit chief executive Jean Pierre Mustier has moved quickly to stamp his mark on the bank’s organisation and senior management, as well as reshuffling the top ranks of the financing and advisory business.
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The new head of EMEA CIB has a clear plan and a determination to prove Deutsche can be Europe’s only global bank, writes David Rothnie.
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The woes of the Deutsche Bank, proclaimed the world’s riskiest global systemically important bank (G-Sib) by the International Monetary Fund, were compounded on Wednesday morning when it reported second quarter results. Headline figures confirmed that a challenging operating environment, as well as the bank’s painful 2020 restructuring plan, are hitting operations hard.
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UniCredit's new chief executive, Jean Pierre Mustier, has simplified the bank's management structure, cutting the number of his direct reports, naming a new CFO and COO, and handing Gianni Franco Papa, a broader, group-wide role.