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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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BNP Paribas made disintermediation the heart of its 2016 strategy for the corporate and investment banking business, and committed to “bolster debt platforms, in particular high yield”.
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Credit Agricole’s medium term plan, published on Thursday, features the investment bank moving to a “distribute to originate” model, anchored to Europe and serving major borrowers and investors.
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Barclays has been in the public firing line all week, with the market anticipating job cuts in the investment bank. Meanwhile, equity analysts at Deutsche have said that the market is valuing the division at zero, based on the current share price.
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Donald Workman, the new head of Royal Bank of Scotland’s corporate and institutional banking (CIB) business, is expected to announce in the next seven to 10 days a steering committee or integration board to lead the restructuring of the business, write Jon Hay and Owen Sanderson
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After announcing a spectacular €9.3bn goodwill writedown and €7.2bn loan loss provision, UniCredit is trying to get back on the front foot, with a plan to deploy more capital in central and eastern Europe, while hiving off its non-core portfolio into a standalone business.
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The doyen of Italian banking is looking overseas to secure its future in investment banking, writes David Rothnie. Chief executive Alberto Nagel has his work cut out.
