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A selection of the clever, funny and weird to keep your mind sharp over the new year break
European and high yield chiefs to take the reins
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George Thimont will rejoin Crédit Agricole at the end of September, having previously worked at the French’s bank SSA DCM team from 2013 to 2014, GlobalCapital understands. -
There was a time, not so very long ago, that Barclays and Deutsche Bank seemed to be plunging down the same path together. Fixed income flow monsters both, the two firms unveiled superficially similar revamps in 2014 and 2015, driven by the same structural imperatives. In the last year though, the pair couldn’t have been more different.
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The package of business cuts unveiled by new chief executive Christian Sewing earlier this year has already started to bite on Deutsche’s balance sheet, with trading assets plunging and borrowing in repo down 95%. Despite the cuts, though, the bank beat rock bottom expectations this quarter, but still faces a challenge to return to sustainable profit-making, according to analysts.
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Fannie Mae on Thursday ensured its name would be included in future financial textbooks on the replacement of Libor as it priced the first ever floating rate notes linked to the new Secured Overnight Financing Rate (SOFR), drawing a wide range of investors from money funds to state treasuries in the process.
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Brexit has been a slow-burning problem for the City of London, but burning it is. Financial markets are regulated. With worse access to Europe, the UK must make itself attractive to financial firms in other ways.
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The International Finance Corporation has made some internal appointments following the departure of veteran Matthew Bauer.
