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Investment bank, like the group, wants to diversify outside France, and will lead with its strongest suit, real assets
Demand to invest in the low carbon transition is growing fast, but strategies are very diverse
Recruitments in sales and origination are separate but intended to build debt franchise
Two senior investment bankers have resigned from SMBC, one headed to BBVA
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Etrading Software has launched a system to ramp up the efficiency of loan trading, enabling dealers to strip out the motley collection of spreadsheets, emails, instant messages still used in the market and centralise crucial information ahead of executing loan trades. -
HSBC has agreed to tighten its policies on climate transition and coal funding, in response to a shareholder motion calling on it to phase out fossil fuel financing. The move underlines the power investors have to accelerate change on environmental and social issues using shareholder votes, and could raise the bar for other banks.
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Tesco, the UK supermarket chain, has reacted quickly by setting new targets to sell healthier food, less than a month after a group of shareholders filed a resolution calling for this — a sign of how sensitive companies are to having environmental, social and governance motions voted on at their annual general meetings.
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The UK’s monetary policy will officially be designed to fight climate change from now on, after chancellor of the exchequer Rishi Sunak changed the Bank of England’s mandate this week, delighting sustainable finance campaigners.
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Lawyers for struggling supply chain finance firm Greensill argued in court that over 50,000 jobs could be at risk from its collapse, precipitated by the withdrawal of credit insurance. But experts in the sector with knowledge of Greensill’s exposures argue that even Sanjeev Gupta’s Liberty Alliance empire could come out ahead.
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Jane Fraser, CEO of Citigroup, said on Monday — her first day in the post — that the bank was committing itself to net zero financed greenhouse gas emissions by 2050. It joins major banks such as Barclays, HSBC and Morgan Stanley in having made such a promise.
