Search results for

* Former DLJ executive John Smith has been chosen to replace Nick Bannister as ABN Amro's global head of equities. Smith can call on plenty of equity markets experience when he joins the London office in October. He helped to found DLJ International Securities and became its head of international equity research. But he chose not to join Credit Suisse First Boston when it acquired DLJ's equities business late last year and has since been "taking time out and advising a software company".

Deutsche Börse (DB) is set to publish a new code of best practice for companies going public on the Neuer Markt and for lead managers of such IPOs by the middle of 2002. This follows the publication of a report commissioned by the exchange aimed at uncovering the reasons for the disastrous performance of many of the stocks listed on the growth market. Dresdner Kleinwort Wasserstein, Sherman & Sterling and Roland Berger Strategy compiled the report, Gateway to European capital markets - key to growth.

In the last week of August, the talk in the swap markets was all about the bonanza of new debt expected in September and the depressing effect that this will have on spreads to government debt. Dollar swap spreads crumbled to their lowest levels in 18 months, while 10 year euro swaps declined by 4bp on the week. At the close of trading yesterday (Thursday), the five year dollar swap was dealing at about 74bp over Treasuries, while the 10 |ear was at 81bp over. These prices had risen from lows of 71bp and 78bp, respectively seen on the previous day.

Estonia The Republic of Estonia has announced that its Eu100m Eurobond via Credit Suisse First Boston could be postponed to October.

France Cinven will float its newly acquired press unit in the next three to five years. According to a spokesman for Vivendi Universal Publishing, which sold the unit to Cinven for $2.2bn last week, Cinven's plan is to develop the business with a view to floating it in the future.

Nomura this week hired Tariq Rafique as head of securitisation and asset finance. The move was foreshadowed in EuroWeek last week, when Rafique left ABN Amro, where he had been global head of securitisation.

Hong Kong dollar and Singapore dollar were the only other currencies to be traded yesterday and accounted for under 2% of the market. Eight Hong Kong dollar notes were closed and only two in Singapore dollar. Maturities in the Hong Kong dollar sector were nearly all under two months. HSBC Investment Bank (Netherlands) closed a HK$80 million ($10.26 million) note due on September 6 and maturing in 56 days. And Development Bank of Singapore issued two HK$1 million one-month notes. Only Dresdner Bank issued a mid-term note: a HK$100 million FRN that matures in 2006. Maturities in Singapore dollar again did not venture very far over the one-month mark. Development Bank of Singapore closed a S$1.62 million ($927,460) note due on September 12 and maturing on October 12. HSBC Investment Bank's S$10 million note matures in 43 days.

Hong Kong dollar led the way again with seven trades, most of which were in the short end. Lehman Brothers Treasury closed a HK$53 million ($6.80 million) 25-day note. And HSBC Investment Bank issued four HK$80 million notes, all due on August 31 and maturing on October 12, 19 and 24. MSDW Asia Securities Products was the other issuer at the short end with its HK$99.36 million trade, while National Australia Bank closed a HK$160 million issue that goes out to 2004. BNP Paribas issued in two currencies: Swiss franc and in Swedish krona (in addition to its trades in US dollar, euro and yen). Both trades mature in one year. The Sfr1.80 million ($1.08 million) note pays a final coupon of 9.250% and the Skr25 million ($2.44 million) trade pays a final coupon of 8.350%. Singapore dollar was the only other currency issued. Development Bank of Singapore's S$210,000 ($120,206) note is due on September 7 and matures on October 5.

* Landesbank Baden-Württemberg Rating: Aaa/AAA

Hong Kong Shanghai Industrial Investment (Holdings) Co has awarded a mandate to BOCI Capital, Hang Seng Bank, HSBC Industrial & Commercial Bank of China, SG and WestLB to arrange a $250m five year fundraising.

Europe * ARES Finance Srl