People & Markets - All Articles

  • BoE ‘turbo charges’ post-Libor transition with plans for index and ramped-up haircuts

    The Bank of England turned up the heat on Libor this week with plans to publish a compounded Sonia index and averages in a move that will drive the transition to the new risk-free rate with a simpler coupon calculation methodology. It will also increase haircuts on Libor-linked collateral which is intended to accelerate the switch out of Libor FRNs maturing after 2021.

    • 27 Feb 2020
  • MUFG loses co-head of DCM

    MUFG has put one of its co-heads of debt capital markets at risk of redundancy.

    • 26 Feb 2020
  • Bank of England lays out plans to publish compounded Sonia averages and index

    The Bank of England has said it intends to publish compounded Sonia averages and a Sonia index using a ‘shift’ calculation method by the end of July, subject to feedback on a series of questions it has asked sterling market participants. This follows the first deal using that method from the European Bank for Reconstruction and Development Bank last week.

    • 26 Feb 2020
  • Tech boutique offers tool to spot greenwash

    Investors who have been longing for the EU Taxonomy of Sustainable Economic Activities to tell them what is green are now realising that its arrival could make life tricky. From the end of next year, they will have to start reporting how sustainable all their portfolios are. It could prove an enormous headache. But a tiny company has developed a tool it claims can cut out a lot of the worries investors face in working out how to comply.

    • 26 Feb 2020
  • Standard Chartered loses levfin head

    Standard Chartered’s global head of leveraged finance and structured solutions has left the bank, according to a source close to the situation.

    • 25 Feb 2020
  • ECB is revving the engine but the handbrake is on

    Europe’s capital markets are back in super-demand mode.

    • 20 Feb 2020
  • HSBC’s restructuring: is it enough though?

    HSBC’s corporate finance staff have survived its restructuring largely unscathed, but the more ambitious among them will see the bank’s plans as a missed opportunity, writes David Rothnie. And with no answer yet on the identity of the next full-time CEO, the uncertainty is not over.

    • 20 Feb 2020
  • JP Morgan appoints new heads of IB, DCM, ECM, M&A

    JP Morgan has promoted a whole new layer of leadership in its investment bank, reaching down to debt capital markets, equity capital markets and M&A. At the top of the tree, Carlos Hernandez has moved from being head of global investment banking to executive chair and has appointed new co-heads of global investment banking.

    • 18 Feb 2020
  • People moves in brief

    HSBC hires Lahham for MENA corporate finance — Lisanti broadens markets role at Citi — Muscatt joins BMO

    • 13 Feb 2020
  • Banks jostle for position in sustainable M&A revolution

    Nomura has made sustainability one of the pillars of its fightback in investment banking, as it joins the race to harness the power of sustainability-related M&A and capital markets deals.

    • 13 Feb 2020
  • HSBC appoints Lahham for advisory and coverage

    Nabil Lahham has joined HSBC to head up advisory and corporate finance coverage for the Middle East, North Africa and Turkey. He was most recently at Perella Weinberg Partners.

    • 13 Feb 2020
  • Thiam quits Credit Suisse on fixed income high

    Credit Suisse has reported a strong end to last year for fixed income sales and trading, in chief executive Tidjane Thiam’s last week in the job.

    • 13 Feb 2020
  • Investec makes five hires and continues broking push

    Investec has furthered its push in corporate finance with five new hires. It continues to win new UK broking mandates.

    • 13 Feb 2020
  • Sustainability: more stick, less carrot

    Sustainable finance players are enthusiastic about regulation, which they expect to bring clarity and order to the market. It may — though when the new EU rules are implemented they are likely to irk participants more than they expect. But what would be really effective are direct actions that bypass finance.

    • 11 Feb 2020
  • Alcentra promotes Glaser to sole head of European direct lending

    Peter Glaser will become sole head of European direct lending at Alcentra, as his former co-head Graeme Delaney-Smith is leaving the firm for retirement. Alcentra has also hired two senior people for its origination team.

    • 10 Feb 2020
  • Bayside promotes Scotland for special situations

    Andrew Scotland has become co-head of Bayside Capital’s special situations debt activities in Europe.

    • 10 Feb 2020
  • Santander scores solution for costly undrawn revolver exposures

    Santander has bought credit protection on two portfolios of undrawn revolving credit facilities, taking advantage of a regulatory decision last year to sharply boost the efficiency of the protection. The deal points the way for banks to cut the costs of providing revolvers, which are usually extended as a ‘loss leader’ for a broader banking relationship.

    • 10 Feb 2020
  • US natural gas exposure hits Natixis

    Natixis, one of the investment banks that has gone furthest to prioritise greener financing, had to ramp up its provisions for credit loss from US natural gas producers in the fourth quarter, pointing to “structural transformation” in the sector. But it told GlobalCapital that it still saw opportunity in the industry.

    • 07 Feb 2020
  • Goldman’s growth plan faces Europe test

    As Goldman Sachs hunts for incremental gains in its investment banking division, it need look no further than its European franchise, where it continues to trail JP Morgan, writes David Rothnie.

    • 06 Feb 2020