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Reorganisation changes reporting lines
With a top quality management team now able to focus on growth, Wells Fargo could shake up the pecking order in investment banking
Financial institutions dealmaking is at an 18 year high but banking consolidation is elusive
Hire of Anvita Arora for ECM is part of wider plan, says IB chief
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The resignation of Jean Pierre Mustier as group CEO on Monday night has laid bare deep fissures between the senior management of UniCredit, which has been focused on serving the interests of shareholders, and members of its board, which want to reposition the bank as a servant of the Italian economy.
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Banca Monte dei Paschi di Siena found plenty of demand for a new senior bond in the euro market on Tuesday, aided by growing speculation about the possibility of a merger with UniCredit.
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Jean Pierre Mustier will retire as CEO of UniCredit in April, the bank announced this evening, as the board no longer agrees with his strategy. The change could mean UniCredit pivots towards Italian priorities and political influence.
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Charlie Nunn, HSBC's global chief executive for wealth and personal banking, has been appointed as the next chief executive of Lloyds Banking Group.
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MUFG is overhauling personnel and its business model to try to escape a cycle of low returns, writes David Rothnie.
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UK aerospace company Rolls-Royce managed a smooth landing for its mid-pandemic equity raise despite turbulence within its inner circle of advisers. It was a triumph for strong management, writes David Rothnie.