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Banks welcome UK’s relaxed prospectus rules as IPO pipeline swells
Originator hired to go after bank bond issues in euros and dollars
With Sergio Ermotti set to step down as group CEO, chairman Colm Kelleher favours an orderly, internal succession. But in a critical year for the bank, there could be turbulence ahead
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Lakshmi Vilas Bank is set to merge with DBS Bank’s operations in India, under a central bank plan to save the cash-strapped local lender. -
BBVA said on Monday that it had reached an agreement to sell its US subsidiary to PNC Financial Services. The Spanish bank’s bonds rallied sharply on the news of the deal, which will increase its main capital ratios by as much as 300bp.
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Commerzbank has endured a tough year but, with a new strategy on the way, loan impairments lower than at many peers, and executives seeing an uptick in its trade finance business, the worst may be behind it.
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Jefferies has enjoyed a record year in European investment banking, powered by equity capital markets, writes David Rothnie.
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Finnish financial services group Sampo has begun cutting its stake in Nordea, one of the Nordic region’s biggest banks, following pressure from Elliott International, the activist hedge fund, to simplify its business.
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Crédit Agricole benefitted from brisk capital markets activity in the third quarter, its results on Tuesday showed, while it has also set up a private investment banking division for wealthy individuals and families.
