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Five months in, Alessandro Melzi is getting started on the plan, but his boss is about to change
Bank strives for ‘complete global offering’ in M&A and ECM but market conditions hang in the balance
Bond trading platfrom has global ambitions but challenges remain in fragmented market
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When António Horta-Osório takes over as chairman of Credit Suisse on May 1, he will be fighting fires on all fronts. While the bank has a relatively strong capital position, boosted by a $2bn fundraising announced on Thursday, shareholders are demanding answers over strategy and controls. Perhaps more ominously, the Swiss regulator Finma has instigated enforcement proceedings, writes David Rothnie. -
Market participants will embark in the coming weeks on the difficult task of working out how to use the European Union’s sustainable finance Taxonomy, after the first criteria were published this week. In doing so, they will be conscious that the smooth tide of green finance is now breaking against the hard reality of power politics and resistance by fossil fuel industries — a clash that is rocking the Taxonomy’s credibility, writes Jon Hay.
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Sources in the CLO market have expressed doubt over the CLO trading platform known as Project Octopus launched last week by Citi and Bank of America, questioning whether the platform will succeed in expanding to a critical mass with enough other banks involved. However, some active in the nascent electronic trading market, such as KopenTech, welcome the venture as an endorsement of their vision.
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WhiteStar Asset Management, the Texas-based credit manager which sponsors the Trinitas CLO shelf, has opened a London office, appointing Gordon Neilly to run it as executive chairman of WhiteStar Asset Management Europe.
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The long-running debate in the European Union about how to optimise its development finance effort and strengthen its role in sub-Saharan Africa is tending towards the most basic of the possible options: closer collaboration between the European Investment Bank and the European Bank for Reconstruction and Development.
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The Single Resolution Board said this week that it could only get behind a "hybrid model" for the European deposit guarantee scheme (EDIS) if it forms part of a temporary solution on the way to establishing a fuller framework.
