Christopher Spink covers financial restructuring across Europe, as assistant editor for International Financing Review. He is currently focusing on the Eurozone crisis as well as regulatory developments as part of IFR’s People & Markets team. Previously he wrote about M&A for another Thomson Reuters title Acquisitions Monthly. During his 15 year career Chris has also covered AIM companies and venture capital backed businesses, as head of research and deputy editor at Growth Company Investor. He also wrote best-selling book, "How to invest when you don’t have any money", when he worked at investment website The Motley Fool.
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Barclays’ new executive chairman John McFarlane has admitted that the firm is no longer able to compete globally with the five largest US investment banks, in comments that are likely to precede deep cuts to the division.
RBS is aiming to complete as much of its programme of asset sales as possible at its corporate and institutional banking arm in the second half of the year, even if it means taking bigger losses on the divestments.
BNP Paribas bounced back in the second quarter from its disastrous period a year ago, when the French bank booked a €5.95bn charge relating to fines from the US authorities.