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Europe’s self-proclaimed investment banking champions are playing to their strengths, but remain far behind US peers
After quitting M&A and equity capital markets in Europe and the US last year, HSBC is striving to maintain global relevance — and London and New York still have a role to play
Deal raises questions about whether transaction was done at arm's length
Public pension schemes have sold shares in coal, oil and gas companies but are still funding expansion of the gas industry through infrastructure funds
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Intercontinental Exchange has named a replacement for the president of its ICE Clear US operation, Thomas Hammond, who will leave the post at the end of this year. -
We noted last week that Deutsche Bank could soon become the widest name in the Markit iTraxx Europe index if its credit deterioration continued. It came to pass perhaps sooner than many expected, with its senior five year spreads closing at 251bp on Monday, 6bp wider than Glencore.
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European policymakers are working on a plan to create synthetic pan-European bonds backed by a pool of member state sovereign debt, giving the continent and its banks a more stable supply of safe assets.
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Bank of America Merrill Lynch and Goldman Sachs are taking a knife to their Asian investment banking operations amid slower capital markets activity and as competition from Chinese lenders intensifies. This is just the latest in a series of culls in Asia as global banks struggle to find a suitable model. Shruti Chaturvedi reports.
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In just a few days, the renminbi will be officially included in the International Monetary Fund’s Special Drawing Rights basket — a move widely seen as a validation of the currency’s internationalisation. But the actual impact of the development on fund flows is expected to be limited, market participants told GlobalRMB.
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The London Stock Exchange this week moved to deflect a mounting list of European Commission concerns about its proposed merger with Deutsche Börse by saying it would consider selling off its LCH SA French clearing business.
