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Bank M&A is back on the agenda, but talk of SMBC buying Jefferies is premature. The two firms are prioritising their multi-stranded alliance and a takeover now would jeopardise it
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
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The first wave of the big investment banks reported first quarter numbers this week, showing that the promised dive in fixed income trading revenues was no idle warning, writes Owen Sanderson. JP Morgan, Citigroup, Bank of America Merrill Lynch and Credit Suisse all reported first quarter FICC or fixed income numbers down between 15% and 21%, as trading volumes and volatility slumped.
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HSBC has built its corporate finance strategy on its emerging markets credentials, but it has big ambitions in Western Europe, writes David Rothnie. -
Lloyds has hired three bankers for its expanding credit markets team in New York, as well as transferring another, Wesley Fallan, from its London headquarters, as it looks to win more business in the US in fixed income and securitization.
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The IMF has warned in its Global Financial Stability Report that market sentiment towards European banks may be running ahead of the repair of their balance sheets, and recommends that authorities push on with “accelerating the clean-up of bank and corporate balance sheets without disrupting the recovery in market sentiment”.
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The bank is profitable in corporate finance again, but now it needs to bolster its senior ranks, writes David Rothnie.
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Credit Suisse’s fixed income, currencies and commodities business relies too much on credit, EM and securitization, said analysts from JP Morgan on Wednesday.
