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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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Standard Chartered is going through its peak of disruption, according to chief executive Bill Winters, as the bank cuts senior staff. It announced a comprehensive restructuring and restoration package on Tuesday, with a third quarter loss, 15,000 job cuts, a £3.3bn rights issue, and $100bn of assets to be restructured or sold.
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Greek banks will have to address a €14.4bn capital shortfall as part of ongoing plans to strengthen the viability of the country’s banking system, said the European Central Bank on Saturday. -
HSBC announced it was launching a joint venture with Shenzhen Qianhai Financial Holdings, to give it an onshore securities license and build an onshore renminbi debt capital markets business.
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Deutsche Bank will close several businesses in its global markets division, including market making in uncleared credit default swaps, uncleared interest rate swaps with dealers, agency RMBS trading and high risk weight securitized products trading.
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The 2011 acquisition of Lexicon has paid off as the independent Evercore has turned itself into a credible force in Europe, writes David Rothnie.
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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.
