UK

Lloyds Bank has formulated a succession plan to prepare for the departure of Allen Appen, its head of bond financing, as another senior figure prepares to leave its debt capital markets group.

Barclays has made several further promotions across its capital markets and M&A teams in London and New York, a week after rolling out a new global investment banking management structure.

Standard Chartered has launched an apprenticeship programme that is open to school leavers without academic qualifications as it seeks to bring more diversity to financial markets.

US-style Spac IPOs will soon be possible on the London Stock Exchange following a review by the Financial Conduct Authority, although the changes come at a time when the vehicles have fallen increasingly out of favour with investors.

Mid-market investment bank Liberum has brought in the co-founders of corporate finance boutique Bullfinch Corporate Finance as co-heads of M&A as it looks to raise its profile in takeovers.

A sell-off in global equities at the beginning of last week, in response to the Delta-variant-fueled rise in Covid-19 cases, was largely erased in the following days. But the episode offered a glimpse of the disquiet in the market, and a hint as to the likely reaction if the pandemic were to take a course that put the brakes on economic growth.

JP Morgan has topped up its expertise in shareholder activism in EMEA with the appointment of Darren Novak, a veteran of the discipline who previously worked at UBS, as head of shareholder engagement and M&A capital markets (SEAMAC) for the region.

Ascential, the UK media and events company, has completed a £154m capital raising to strengthen its balance sheet so that it can take advantage of new M&A opportunities.

Fixed income investor BlueBay Asset Management has added to its environmental, social and governance (ESG) investment team in London with an external hire and a move from within.

RBC Capital Markets has hired three women to its European global equity sales business at director level in London and Frankfurt.

The People & Markets section of GlobalCapital could almost have been called the Barclays section this week, given the number of stories that involved the bank. What has been going on?

The Bank of England said this week that lenders with £15bn-£25bn in assets should still be subject to the minimum requirements for own funds and eligible liabilities (MREL), despite calls from the industry to raise the threshold. The Old Lady will, however, give new and growing firms longer to comply with their targets.