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Bank Strategy

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After hiring stacks of bankers in north America with rich pay packages, Citigroup has switched its attention to Europe. So far, Citi’s chequebook is still wide open
Lake leaves bank, Rohrbaugh moved to get retail experience
The extra scrutiny that comes with working on the most visible, public and largest deals would give even the Stoics something to scratch their heads about.
New equity capital markets talent and Bernstein joint venture have helped Société Générale win eye-catching mandates. Next, it will expand sector teams
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  • Trading volume driven by volatility during September could mean a decent third quarter for trading focused investment banks. Meanwhile, the primary markets saw the best September on record for IPOs, and although the high yield machine has spluttered a little against a shakier backdrop, bank capital continues to deliver the goods for DCM teams.
  • 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.
  • 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.
  • 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.
  • Samuel Rosenberg, the ex-global head of financial engineering at Newedge in New York, has joined Natixis, also based in New York.
  • 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%.