Top Stories

Bankers and investors are unconcerned by an inquiry by UK members of Parliament into the cost-effectiveness of syndicated Gilt issues.

The European Union’s Taxonomy of Sustainable Economic Activities, the cornerstone of its action on sustainable finance, looks set to bless several technologies such as biofuels and hydroelectric power that are not just environmentally questionable but actively harmful, as a result of lobbying by vested interests.

UniCredit chief executive Jean Pierre Mustier upset the Italian establishment but he acted in the best interests of shareholders. But if he moves on, the bank would face an uncertain fate amid a new chapter of domestic and international banking M&A, writes David Rothnie.

The European Commission is considering a way to proceed with its €750bn coronavirus recovery fund that will exclude Hungary and Poland. The two countries have stood firm in their opposition over the idea that receipt of EU funds will depend on states adhering to the rule of law.

Martine Mills Hagen, the head of funding at the Asian Infrastructure Investment Bank, has left to join the Opec Fund for International Development.

The resignation of Jean Pierre Mustier as group CEO on Monday night has laid bare deep fissures between the senior management of UniCredit, which has been focused on serving the interests of shareholders, and members of its board, which want to reposition the bank as a servant of the Italian economy.

Banca Monte dei Paschi di Siena found plenty of demand for a new senior bond in the euro market on Tuesday, aided by growing speculation about the possibility of a merger with UniCredit.

Credit Suisse has picked the outgoing chief executive of Lloyds Banking Group, António Horta-Osório, as its next chairman.

Jean Pierre Mustier will retire as CEO of UniCredit in April, the bank announced this evening, as the board no longer agrees with his strategy. The change could mean UniCredit pivots towards Italian priorities and political influence.

The Riksbank, Sweden’s central bank, is adding a “negative screening” process to its purchases of corporate bonds under its quantitative easing programme, meaning it will no longer buy the bonds of the most polluting companies.

The Basel Committee on Banking Supervision (BCBS) has declared the end of the Basel III policy agenda, promising that any further reforms in this area will be "limited in nature".

Ed Mulderrig has been appointed head of European debt syndicate at UBS, the latest in a series of changes to the responsibilities of the firm's senior debt capital markets bankers.