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Latest news
Deal raises questions about whether transaction was done at arm's length
Joanna Chan is taking on the role of head of strategic capital
Key points of contention include the investor sanctions regime and the definition of 'resilience'
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Intesa Sanpaolo says it is planning a sale of senior unsecured bonds to raise at least EUR500 million ($655.5 million), which would make it the first such debt deal of its kind in months.
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The Royal Bank of Scotland has scooped up A.J. Davidson as managing director and head of hybrid capital in the investment bank’s London office.
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The U.K.’s Financial Services Authority and the Swiss Financial Market Supervisory Authority may impose a penalty on UBS for oversight failures that led to costly unauthorized trades and some $2.3 billion in losses last year.
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Antonio Horta-Osorio, ceo of Lloyds Banking Group, is said to be planning management changes that would result in his relinquishing some responsibilities in the hopes of avoiding another bout of exhaustion, which led to his recent two-month medical leave.
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Stephen Hester, ceo of Royal Bank of Scotland, has waived his bonus of nearly £1 million ($1.6 billion) after the U.K.’s Liberal Democrat party threatened to force the government, which holds a 83% stake in RBS, to cancel the compensation.
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Bank of America is said to have told investment bankers that their compensation would on average be 25% less than a year ago.
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Portugal’s Banco BPI is planning to raise its capital ratio with a discounted buyback offer for a covered-bond issue, the second European bank to do so this year following National Bank of Greece.
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Morgan Stanley has been hit with lawsuits by two foreign banks over residential mortgage-backed securities.
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UniCredit is looking to boost its capital with an offer to buy back up to EUR3 billion ($3.9 billion) of Tier 1 and Tier 2 bonds.