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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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  • Lloyds Bank's former head of loan markets, who subsequently became its global head of industrials and manufacturing, has left the bank.
  • ICG said on Friday that it had hired Blackstone’s Vijay Bharadia as chief financial and operating officer and as a director, subject to regulatory approval.
  • SRI
    Sixteen companies, all leading green bond issuers, have formed a Corporate Forum on Sustainable Finance. Electricité de France was the prime mover. Xavier Girre, chief financial officer of EDF, tells GlobalCapital why the group is needed, why he supports a green supporting factor and how EDF’s sustainable finance strategy is developing.
  • S&P expects speculative grade default rates to rise to 2.6% in 2019, from 1.9% at the end of last year, thanks to tightening credit conditions, and slowing economic growth. But new accounting standards could also worsen the credit cycle.
  • The European Investment Bank, European Commission and EU member states are struggling to decide how to run InvestEU, a €47bn guarantee from the EU budget supposed to support €650bn in investment, as a successor to the Juncker plan. The Commission is seeking more direct control, while the European Bank for Reconstruction and Development is also after a bigger role.
  • The Reserve Bank of India’s recent relaxation of rules governing offshore fundraising is set to give a fillip to dollar loan volumes from the country, bankers told GlobalCapital Asia this week.