UK

British American Tobacco and Brown Forman gave the sterling corporate bond market a much needed boost on Thursday as both brought benchmark transactions to enthusiastic investors.

Investors have been forced to think twice about buying euro-denominated UK bank paper following the country’s vote to leave the European Union, though the borrowers remain strong and spreads on their debt securities are at attractive levels.

The Loan Market Association appointed four new board members at its annual general meeting this week

Investors have been forced to think twice about buying UK bank paper following the country’s vote to leave the European Union, though lenders remain strong and spreads on their debt securities appear at attractive levels.

The outcome of the Brexit referendum has cast a shadow over London’s ability to maintain its status as Europe’s foremost RMB business hub. In this lowdown, GlobalRMB pits three other European capitals – Frankfurt, Luxembourg, and Paris – against the City as the most likely contenders for Europe’s RMB crown.

UBS has rejigged its global investment banking team as it feels the need to re-examine its business in the face of a “perfect storm of challenges”, according to an internal memo sent to staff by Andrea Orcel, president of the investment bank.

Germany’s financial regulator this week cast further doubt on the planned merger between Deutsche Börse and the London Stock Exchange by objecting to a London headquarters for the group in the wake of the United Kingdom’s vote to leave the European Union.

Clearing looks set to be one the first areas of London’s dominance as a financial centre to be challenged, following last week’s vote to leave the European Union, with uncertainty over the future of euro business putting pressure on central counterparties based in the UK to relocate their clearing operations elsewhere.

Standard Chartered Bank has hired an executive director for its European corporate DCM team.

The London Stock Exchange (LSE) could be closing in on an equity trading link for UK-listed depositary receipts by Chinese firms that would see the participation of Euroclear and LCH.Clearnet, GlobalRMB has learned.

The Singapore Exchange (SGX) has extended the period of exclusive discussions with the Baltic Exchange for a proposed cash offer to acquire 100% of the shipping-based bourse.

An impassioned Brexit-inspired request from the managing director of the GlobalCapital group