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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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Guggenheim Securities has bought the European brokerage arm of Lazard Capital Markets, in a move which signals the start of the broker-dealer’s European expansion plans. The new entity will be branded Guggenheim Securities International.
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The Financial Stability Board called for clarity regarding bail-in debt to help resolve cross-border banks, ahead of a crucial G20 meeting which should set the final round of bank capital requirements.
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Banks have shed trading platforms and physical assets but talk of a retreat is overdone, as the business becomes more tailored for the banking mainstream, writes David Rothnie.
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Samuel Rosenberg, the ex-global head of financial engineering at Newedge in New York, has joined Natixis, also based in New York.
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Overall credit default swap notional reported to swap data repositories last week increased marginally by 4% from the previous week, according to data from the International Swaps and Derivatives Association. This follows three weeks of a consistent uptick in CDS notional, with a combined increase of 98%.
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The Foreign Exchange Benchmarks Group has recommended the fixing window used to calculate FX rates should be widened from its current width of one minute, following its review of major FX benchmarks on the back of allegations that FX fixing rates were being manipulated.