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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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Michael Reuther, head of Commerzbank’s corporates and markets unit, told GlobalCapital that the banking industry needed to see the “endgame, the final state” of its capital requirements, with an end to the new overlapping layers of extra capital requirements. -
Jean-Pierre Mustier, chief executive of UniCredit, told GlobalCapital that US regulators do not really want foreign banks to have big operations in their domestic market, and he pointed to the unequal treatment of European banks in the US compared with US banks in Europe.
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The European Securities and Markets Authority has proposed making it mandatory to trade the iTraxx Europe and Crossover credit default swap indices on a regulated market or other recognised trading facility.
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The US is one step closer to becoming a renminbi hub with Bank of China New York officially appointed as the country’s first RMB clearing bank, a major development towards the internationalisation of the currency.
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Lloyds has told GlobalCapital that a lawsuit which could cost it £275m ($357m) does not have merit, and promised to contest the suit vigorously.
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Synechron, a technology services provider, is targeting margin calls as one of six ‘blockchain accelerator’ applications for the financial markets.
