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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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After a heady period of expansion, CIMB Bank’s merger and acquisition spree appears to be coming undone. The Malaysian bank is aggressively slashing costs and reducing its headcount. But those vilifying its expansion strategy are missing the big picture. Having established an impressive foothold outside its home base, CIMB should not give up on its regional ambitions now. -
BGC Partners has launched an electronic trading platform for yen interest rate swaps, making it the first interdealer broker to launch a fully electronic platform for such a market.
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Malaysia’s CIMB Bank is scaling back its investment banking business in the Asia Pacific region as it seeks to reduce a ballooning cost base and cut operating costs by about 30% this year, just three years after it forked out £75m ($114m) to buy the Asian and Australian investment banking assets of the Royal Bank of Scotland. The plan saw it shutter its offices in Australia on Monday, in a bid to trim costs across its investment banking and equities franchise.
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The Chicago Board Options Exchange is expanding trading hours for CBOE Volatility Index options and S&P 500 options, adding more than six hours of trading per day, five days a week.
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Investors are now actively trading the UBS delta-hedged short volatility strategic index launched last year that seeks to replicate a series of short S&P 500 options as market participants look to gain risk premium exposure.
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Market participants are showing substantial interest in structured products on the iBoxx Euro Contingent Convertible Index on the back of a surge in popularity of contingent convertible (CoCo) bonds. This comes after the European Central Bank’s decision to introduce quantitative easing last month.
