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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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The European Banking Authority has highlighted the “search for yield” as a danger for Europe’s banks, warning in a report published this week that “risks of overvaluations with sudden, potentially substantial repricings and spread movements remain”.
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The Bank of Italy’s efforts to get Italian banks ready for supervision by the ECB has crushed Intesa’s 2013 P&L, as the bank follows the same strategy as peer UniCredit in taking a huge impairment in the final quarter to clean its balance sheet for the impending asset quality review and stress test double-whammy.
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The International Capital Markets Association and the Bank of England are united in saying that the repo markets suffer from poor use of collateral rather than a lack of supply. -
BNP Paribas has put disintermediation at the heart of its 2016 strategy for the corporate and investment bank, and committed to “bolster debt platforms, in particular high yield”. It also plans to launch an integrated derivatives clearing platform for the first time, straddling CIB and Securities Services.
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Banks are still allocating resources to unprofitable areas of business which are unlikely to get better, according to research from Morgan Stanley and Oliver Wyman.
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JP Morgan’s head of investment banking for China, Fang Fang, has decided to retire from the company amid a SEC hiring probe, and will be replaced by Frank Gong, according to an internal memo.
