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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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Nomura highlighted the strength of its sovereign, supranational and agency debt business in its second quarter results, reported on Wednesday, despite recent senior level cuts in its primary debt business. -
Banks outside the bulge bracket are pushing to be allowed more influence and information in high yield bond syndications, which have traditionally been tightly controlled by the top banks. Victor Jimenez reports.
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Nordic companies are showing a strong willingness to adopt the renminbi for payments which is a creating an opportunity for Sweden’s SEB Paula da Silva, head of transaction services at SEB, told GlobalRMB at the recent Sibos conference held in Singapore.
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P&M Notebook
The phrase 'hard decisions' is usually a euphemism, meaning unemployment for the many and bonuses for the few. That could certainly be the relationship between Credit Suisse’s rates business and incoming chief executive Tidjane Thiam, after the latter announced his new strategy for the bank on Wednesday last week.
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Standard Chartered has decided to exit its equity derivatives and convertible bonds businesses in yet another move by the bank to bolster its performance by withdrawing from non-core operations.
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The UBS comparisons were unavoidable, but the contrasts are stark. Instead of turfing out hundreds of traders on a windy autumn morning, leaving panic and rumour to flood the City, Credit Suisse laid out its equally radical restructuring in a sober seven hour PowerPoint marathon.
