UK

MUFG is implementing a new hybrid work policy in EMEA that enshrines flexible working patterns that were introduced during the pandemic.

NatWest Group said on Friday that the “reshaping” of its investment banking arm, NatWest Markets, would be largely complete by the end of the year, after it moved a further 500 staff out of NWM in the second quarter.

The Bank of England will hold a key monetary policy meeting on Thursday, where market participants hope to glean some insights on how the Bank will react to the UK’s surging rate of inflation.

The Bankers Investment Trust, a London-listed investment trust which traces its origins back to 1888, has sold a £74.5m-equivalent private placement. While there are slim pickings for PP investors looking to lend to financial institutions in Europe, investment trusts have provided a steady stream of opportunities.

The UK’s Municipal Bonds Agency is not going anywhere. Despite a late 2020 curve ball in the form of a 100bp cut to the UK’s Public Works Loan Board lending rate, which undermined the MBA's ability to raise competitive bond market funding on behalf of local councils, the agency has a pipeline of deals coming together, some of which will carry ESG labels for the first time.

Credit Suisse is adding to its fintech coverage with the appointment of Orazio Tarda as global head of the sector in London. Tarda was previously global head of fintech at HSBC.

Barclays has proven the financial institutions bond market is still open for business in early August, after attracting strong demand on Monday for a large euro senior deal.

Bank of America has hired Uday Malhotra back from Goldman Sachs as head of leveraged finance origination in EMEA in London, while Eddie Martin, a managing director in the division, is relocating to the US.

It is difficult these days, if not impossible, to find a bank that does not have an official policy or target to boost diversity and inclusion. By pushing them out of their comfort zones, could the pandemic help finally turn these aspirations into reality?

German filter maker Mann+Hummel has closed its innovative Schuldschein, which had both green and sustainability-linked components, at €150m-equivalent in dollars and euros.

Investment banks are broadening the search for talent and tweaking their recruitment message to attract and retain the bankers of the future, as working conditions and corporate culture emerge as hot topics after a difficult period for staff in the industry.

Aligning with a global commercial bank has been on Jefferies’ agenda for several years, but its alliance with SMBC signals an intent to join the investment banking big league. By David Rothnie.