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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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Hugh Hendry, the outspoken founder of former macro hedge fund Eclectica Asset Management, told GlobalCapital he sees no evidence for the re-emergence of global macro as a broad and viable investment strategy. Were volatility to rise again, Hendry says he may well get back into the financial fray but the likelihood of that is vanishingly slim. -
In this round-up, the Consumer Price Index (CPI) inflation moderates in August, the Chinese capital of Beijing opens up its financial services industry further, and Goldman Sachs is reportedly readying a deal to take full control in its China securities joint venture.
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The Indonesian government’s move to shut down a committee exclusively focused on approving offshore loans from borrowers is getting its first test, as Pertamina lines up a $3bn deal for the acquisition of energy assets. Despite the change coming into effect about two months ago, there is still uncertainty around how the new process will work, writes Pan Yue.
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Scope, which provides credit ratings, has created a foundation holding a portion of its shares, saying this is designed to keep it in European hands. In addition, Jean-Claude Trichet, former president of the European Central Bank, has joined an honorary board it has set up to advise on European issues.
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Connecticut-based Nassau Corporate Credit is starting a European CLO operation led by former Ellington portfolio managers Paul Meloche and Hekeani Mathieu. The new business will buy CLO liabilities from third parties as well as running its own CLOs.
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Ant Group has tackled more than two dozen questions posed by the Shanghai Stock Exchange ahead of its concurrent jumbo IPOs on the Star market and Hong Kong. The digital payment firm’s ownership structure, especially its ties to Alibaba Group Holding, as well as its business model and use of the listing proceeds were under scrutiny.
