The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Equity: Market round-up

ECM syndicate merry-go-round BNP Paribas has hired Florence Sztuder from SG to replace Tom Kennedy, who left the bank in April, as head of equity syndicate.

Meanwhile, Ghislain de Brondeau was promoted to head of European equity syndicate at SG to replace Jean-Francois Tine, who left the bank to join rival Lazard-Ixis at the end of April.

Seen and heard

"On an earnings basis, we should have got 70% and the NYSE 30%."

Gerry Putnam, CEO of Archipelago, speaking at the Baruch College Nasdaq conference on May 3, on NYSE seat holders' complaints that Archipelago's 30% holding of the proposed merged company was too generous.

The month in numbers

-10.50%: The year-to-date performance of the Bloomberg IPO Index, a market-cap weighted index for all US IPOs above $50 million. US IPOs, despite being sold at a discount, have proved a worse bet than the S&P500, which year-to-date is down just 1.87%.

$544 million: The amount in US dollars that the US securities industry is expected to spend over the next four years on IT projects to ensure compliance with the SEC's Reg NMS, according to consultants at the Aite Group.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree