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Attempts to build a North America business have left egg on the faces of many senior HSBC executives, but now, with two key differentiators – its big balance sheet and global network – it may have figured out how to be an investment bank in the US.
Euromoney February 2017
BNP Paribas COO Philippe Bordenave tells Euromoney that the bank is putting digitization at the heart of its new strategic plan.
Published February 2017 euromoney.com
BNP Paribas said on Tuesday it wanted to be the ‘bank of the future’; it probably won’t be the last to do so, but it is certainly very far from being the first.
Bank warns on AT1 coupon if €13 bln rights issue fails; move highlights importance of capital increase.
For a non-US bank to be a success in the US, it has to get its ambitions right first.
A booming start to bond issuance in 2017 is threatened on two related fronts.
Published January 2017 euromoney.com
Last year was far from a vintage year for the big five US corporate and investment banking franchises, with almost no business lines seeing an overall increase in revenues in 2016, but the gains in fixed income sales and trading were enough to inch CIB division revenues up by 1.4% to $142 billion.
As EGM approves capital increase, lender spells out impact on regulatory capital if things go wrong.
UniCredit CEO Jean-Pierre Mustier has unveiled his new strategic plan for the bank. At its heart is a €13 billion rights issue. But look deeper and Mustier is at pains to stress UniCredit’s European, rather than Italian, credentials. He’ll need to convince shareholders that this time the bank has a real prospect of breaking free of the country’s bad debt troubles.
Euromoney January 2017
The question of banks moving to the mainland after Brexit will be settled at the dining table.
Published December 2016 euromoney.com
UniCredit CEO Jean-Pierre Mustier has unveiled his new strategic plan for the bank. With a €13 billion rights issue at its centre, he will need to convince shareholders that this time the bank has a real prospect of breaking free of the country's banking troubles
The sale of Barclays’ French retail business is another feather in the cap of CEO Jes Staley and his top executive team.
The IPO of software company Misys was cancelled on October 27 after a tough period for UK IPOs and amid a challenging market backdrop. But why do bankers think the deal failed?
Published November 2016 euromoney.com
Bankers say Misys is a good company that should be public. The failure of its IPO last month was therefore a huge surprise. Euromoney investigates why it was pulled: were the company, the market or the lead managers at fault?
S&P E-mini trader faces US regulatory charges; academics dispute ‘flash crash’ connection.
Brexit threatens eurozone, but region still crucial to global banks.
Euromoney November 2016
Has Jamie Dimon been taking public speaking lessons from Donald Trump? Watching a panel discussion at the annual meeting of the Institute of International Finance (IIF) in Washington recently, where he sat alongside Mike Corbat and James Gorman, you'd be forgiven for thinking so.
Published October 2016 euromoney.com
The topic of Brexit was never going to be far from the minds of delegates at the annual meetings of the International Monetary Fund and the Institute of International Finance, both being held this week in Washington, DC. And on Friday afternoon, delegates got a chance to hear the views of three vocal US bank chief executives — Jamie Dimon of JPMorgan, Mike Corbat of Citi and James Gorman of Morgan Stanley.
The role of challenger banks in the UK has been debated at the highest political levels. But many of the people running these institutions believe their potential is limited not by lack of business opportunities, but by arguments about capital treatment. Brexit holds out the possibility of change, but that would require UK regulators to fly in the face of Basel standards. Anyone hoping for that is likely to be disappointed.
The UK’s challenger banks are stuck in a capital bind, forced to compete with each other on far worse terms than the big banks, but Brexit could offer a glimmer of hope.
Published August 2016 euromoney.com