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Five months in, Alessandro Melzi is getting started on the plan, but his boss is about to change
Paul Gibbs among those departing the firm after long service
Head of capital markets and advisory leaves
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  • Agents active in private debt markets in the UK are growing increasingly frustrated by a crop of advisory firms muscling in on their market share, often arranging deals without the need an investment bank. Some bankers allege that advisory firms don’t have the capacity to price deals effectively, and also that some do not have appropriate regulatory cover from the US regulators to pitch investors there legally.
  • Banks like Goldman Sachs have positioned corporate broking as part of a wider, integrated offering to clients — a strategy that appears to be the future of this traditional UK line of business, writes David Rothnie.
  • China’s central bank has shaken up the way banks quote lending rates, reforming an interest rate benchmark to more closely track the market. But onshore bankers expressed doubts about the move. Rebecca Feng reports.
  • Ed Welsh will join HSBC in November as global head of business services, although his work is expected to be heavily centred around the UK, as the bank ramps up efforts to gain market share among the country’s biggest listed firms.
  • Alastair Blackman, formerly a top media investment banker at Deutsche Bank, will be developing relationships with the heads of UK firms on behalf of Barclays from next month.
  • ANZ has expanded its sustainable finance team in Sydney.