UK

After a short stint at ANZ, a former Royal Bank of Scotland managing director joined Banca Imi last week

A Barclays FIG DCM banker is moving into a senior treasury job at the bank.

The Bank of England governor, Mark Carney, is not being allowed to stay out of the debate over the UK’s membership of the European Union, which is set to ramp up again this week.

The UK Debt Management Office (DMO) has mandated four banks for its re-opening of the 2.5% 2065 Gilt, which it has scheduled for the week beginning April 25, 2016.

The process for IPOs in the UK could be improved as a result of reforms mooted by the Financial Conduct Authority, market participants say. But they also warn that the market works well now and some of the FCA’s ideas could hinder rather than help, especially if they are not implemented carefully, writes Jon Hay.

Over the past 15 years UK banks have set aside over £53bn to pay for their misconduct, according to a report published on Monday, with the end nowhere in sight.

The primary covered bond market was active this week with as many as seven issuers raising more than €6bn, including the longest deal in over a year and a debut borrower in euros.

Primary Health Properties, the UK real estate investment trust that lets property to doctors’ surgeries and health centres, completed on Wednesday (April 13) its £120m capital increase, which grew to £150m.

Arrow Global, the UK consumer debt manager, printed a €225m floating rate note on Thursday to fund its buyout of consumer debt purchaser InVesting and repay its revolving credit facility.

Yorkshire Building Society pulled in £1bn of orders in no time on Thursday morning, as sterling investors fought over the first long end senior bond in the currency since January.

Leeds Building Society quickly built a well oversubscribed and broadly distributed transaction for its first euro benchmark covered bond, launched on Thursday. The short tenor, which has largely been displaced by TLTRO funding, provided a strong catalyst for its success.

Equity capital markets bankers are digesting this morning’s announcement by the Financial Conduct Authority that it might change the rules about IPOs in the UK, as part of its study of competitiveness in investment and corporate banking.