Top Stories

Nikhil Rathi will be the new chief executive of the Financial Conduct Authority. He is currently CEO of the London Stock Exchange.

The European Commission proposal for a debt-financed coronavirus recovery fund goes before the European Council on Friday. The Council is unlikely to reach a decision on the fund this week, but analysts hope a verdict will emerge before July.

European Central Bank funding proved irresistible for lenders across the eurozone this week, with participation in the latest round of Targeted Longer-Term Refinancing Operations (TLTRO III) reaching a record €1.31tr. The astonishing take-up will cement expectations for fewer deals and more buy-backs in the FIG market, as well as the return of the government bond carry trade, write Tyler Davies and Bill Thornhill.

Financial markets are at risk of a renewed dollar funding squeeze, the Bank for International Settlements (BIS) warned on Thursday. This would mirror the stresses that hit when the impact of the coronavirus pandemic triggered a rush for cash.

Deutsche Bank has appointed Diarmuid Toomey head of its newly created strategic capital markets group, which will combine leveraged finance, structured equity and equity-linked products, according to a memo seen by GlobalCapital.

‘Angrynomics’, a well-timed book on anger and how it relates to politics, economics and finance by Eric Lonergan and Mark Blyth, is published this week. GlobalCapital spoke to Lonergan to discuss its meaning.

The success of Rich Ricci’s banking comeback depends on getting a revered old broking brand back on its feet.

Stephan Gimpel is leaving Citi to pursue an opportunity in fintech, after 14 years in the US bank’s debt capital markets business.

Angus Whelchel, former global head of private capital markets at Barclays, has been hired by US boutique advisory group Moelis & Co to head its private capital markets team.

The UK Treasury should set up a £15bn fund for British companies, which could be floated on the stock market in a few years’ time, according to member of parliament Bim Afolami. He also spoke to GlobalCapital about how he thinks the Bank of England could benefit from a new target linked to GDP.

Armin Peter has been made head of sustainable banking for Europe, the Middle East and Africa at UBS.

J. Christopher Flowers, the eminent private equity investor, sees a lot of potential for new deals in European finance in the aftermath of the coronavirus pandemic.