UK

Deutsche Bank is bringing in Daniel Ross from Barclays to oversee its investment banking activities in the UK and Ireland, taking over from Scott Bell, who is moving into a chairman post.

Crédit Agricole asked holders of its sterling additional tier one (AT1) to exchange their bonds for new notes on Thursday, which will recognise the regulatory order after Brexit and will reset the debt to pay to a rate based on Sonia rather than Libor.

French technology manufacturer Mersen has sold US private placements, according to market sources. Investors are expecting more European corporates to tap the market in the coming months.

Severn Trent, the UK water company, is raising £250m of equity capital to fund green projects. Banks working on the deal quickly attracted enough demand to cover the transaction.

Cordiant Digital Infrastructure Ltd, the UK investment trust focused on digital infrastructure assets, has unveiled plans for a £250m capital raising, three months on from its successful flotation on the London Stock Exchange.

In conference calls with the UK Debt Management Office on Monday, Gilt-edged market makers and investors gave their preferred maturities and timings for the UK’s debut green bond.

TD Securities has hired a senior debt capital markets syndicate banker from SMBC Nikko Capital Markets in London, to handle new issues from corporate and financial issuers.

Hedosophia European Growth, a new special purpose acquisition company sponsored by UK investor Ian Osborne, has listed on the Amsterdam Stock Exchange, raising €400m.

Marex, the commodities dealer, has launched a London IPO hoping to cash in from the increasing demand for commodities exposure. Bankers on the deal know that they are launching into a tough IPO market but hope a small deal size and strong sectoral trends will support the transaction.

Citi has replaced the former head of its EMEA alternative assets group with a promotion from within, Theo Giatrakos, who will work alongside a newly hired chairman, Didier Denat, the former head of corporate banking at Credit Suisse.

Santander’s equity capital markets tie-up with Peel Hunt finally provides it with the entry into the UK that it has been seeking while giving the UK broker the firepower to compete with the biggest banks ahead of its planned listing, writes David Rothnie.

Market participants expect to see the end of “vanilla” deals in the European bank bond market, as tier two debt becomes the latest asset class to embrace call periods over call dates.