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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
Hire comes from Ares
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Deutsche Bank may devote more resources to its Schuldschein business after its restructuring and cutting of its equities business, a senior banker has said, though it does not plan to hire any extra staff in the area.
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The European Securities and Markets Authority (Esma) has had to row back on fines for four Nordic banks for issuing credit ratings, after an appeal board found that the banks had not broken the rules negligently.
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Amundi and the European Investment Bank are collaborating on a new €1bn fund aimed at bringing the benefits of green bond funding to smaller issuers in the EU and those with weaker credit quality. They will originate deals through a network of banks.
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ING’s Boekhout to head Commerz corporate biz — ICBC loan syndication head resigns — Ex-Barclays’ Wright joins S&P
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The Bank of England said that the proportion of new highly leveraged loans would swell from 18% of the market to 28%, once add-backs and subsequent borrowing were included, taking overall leverage levels in the market above those prevailing in 2007.
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Deutsche Bank’s strategic overhaul looks set to maintain the bank’s leading position in debt capital markets and leveraged finance. But it casts doubts over Deutsche’s ability to retain a top tier corporate finance franchise and could signal the slow death of its equity capital markets franchise, writes David Rothnie.