Top Stories

UBS's investment bank beat analyst consensus as capital markets revenue was up sharply year-on-year, while a sale of intellectual property rights resulted in a one-off gain, the bank showed in third quarter results on Tuesday.

JP Morgan's Raj Kapadia has joined MUFG as international head of capital markets, as the firm increases its leveraged finance focus. It has also set up a new group to advise clients at the C-suite level on market and macroeconomic developments, led by Tom Joyce, a hire from Deutsche Bank.

The leading US investment banks raked in fees from equity origination in the third quarter, with Goldman Sachs, Morgan Stanley and Bank of America all doubling their ECM revenues year-on-year.

Despite a year of turmoil, many bankers have a spring in their step, writes David Rothnie. They are rushing to get involved in the boom in special purpose acquisition companies (Spacs).

The former head of global debt capital markets origination at Deutsche Bank has linked up with 40 of his former colleagues to form a capital markets advisory firm very much in the spirit of the times — as a network that operates online — as the coronavirus pandemic forces a rethink of traditional investment banking models.

Credit Suisse has hired Bank of America's former investment bank boss Christian Meissner to link its wealth management business with the investment bank.

The coronavirus crisis will continue to lead to divergence in economic fortunes, and that will play out in European capital markets as well.

The European Central Bank's Isabel Vansteenkiste welcomed a proposal for green Targeted Longer-Term Refinancing Operations (TLTROs) on Monday, but talked through what she saw as some concerns with the idea.

Julia Hoggett, director of market oversight at the Financial Conduct Authority, said that market participants need to be careful about insider information, and that companies should be overseeing staff use of private devices at a time when many are working from home.

Origin, a fintech firm involved in the bond issuance process, has raised Series A capital from Deutsche Börse's Clearstream and the Luxembourg Stock Exchange. The two investors said they want to automate the Eurobond issuance process from origination to settlement.

A top-level reshuffle suggests that Barclays chief executive Jes Staley is not going anywhere, but raises fresh questions about whether the bank’s top-five ambitions are achievable, writes David Rothnie.

A group of some of the UK's biggest asset managers, professional bodies and banks are supporting a proposal for an SRI-themed UK sovereign debt product to deliver environmental and social benefits as part of the country’s recovery from the pandemic.