Capital-raising in direct listings: wait, what?
The news that the New York Stock Exchange (NYSE) is mulling ways in which capital raising might be added into the direct listing toolkit has sparked a lively discussion among market participants as to the merits – and practicalities –...
What they said about CIB in Q3 ’19: a guide to bank results
Investment bank quarterly heatmaps numbers are percentage change figures for Q3 ’19 vs Q3 ’18, then YTD ’19 vs YTD ’18 1 CIB is ICS+IB at GS, IS at MS, GB+GM at BAML, CIB at JPM, ICG at Citi, IB...
Europe should rein in its rogue bank supervisors
After the eurozone sovereign debt crisis, and Italy’s subsequent sluggishness in tackling its mountain of non-performing loans, northern Europeans have tended to think that the need for a stronger European Union financial regulatory framework was all about controlling chaos and...
HSBC: The world’s interim bank
To be in HSBC senior management is to be one of two things. Traditionally, you were a dyed-in-the-wool lifer, more often than not making the slow crawl to the top through retail and commercial banking. More recently, you might have...
Arab-Latin lessons on diversification
Diversification from oil could remain a pipe dream This is not just because of geography but also because they are in some respects so similar. Their economies are, above all, just too reliant on exports of primary goods – not...
Are the wheels coming off BNP Paribas’ grand plan?
Today, February 6, BNP Paribas bowed to the inevitable and revised the targets it had set for corporate and institutional banking (CIB) revenue growth and cost savings in its 2017 to 2020 strategic plan. The move came after a year...
IEX research fans the flames of US exchange data feed pricing row
On January 7, a group of nine leading retail broker-dealers, banks, financial services firms and global market makers announced their agreement to launch an equities exchange, called MEMX, or Members Exchange. The consortium includes Morgan Stanley, Fidelity, Citadel Securities, Bank...
EBRI Q1 2019 results: Bangladesh, Ethiopia, Laos top list of most-improved investor locations since 2013
Net worth: Employment is on the up in Bangladesh The EBRI Q1 results show Bangladesh moving from tier-two to tier-one status for the first time since signing 27 agreements with China in 2016 for investments and loans worth approximately $20...
Country risk: Italy is still the eurozone’s Achilles heel
The European Parliament maintains a safe pro-European majority following recent elections Eurozone investor risk worsened in Q1 2019, according to Euromoney’s country risk survey, as contributing experts downgraded 10 of the region’s 19 member states, including Germany, France and Italy. Uncertainty...
Brazil growth: Of lost years, lost decades
Figures from Brazil’s central bank show a deceleration in credit growth in the second quarter of 2019 (compared with the first quarter), which led an exasperated Octavio de Lazari, president of Bradesco, to say that 2019 is “already another lost...