Gareth Gore is an associate editor at IFR, where he heads the global people and markets coverage. Since joining the magazine in 2009, he has written extensively on the eurozone crisis, sovereign debt, banking regulation and the international capital markets. He previously worked as a Madrid-based correspondent for Bloomberg, and has also worked for Risk magazine.
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Deutsche Bank has poached senior technology staff from two of its major investment banking rivals, as the firm seeks to bolster its back-office capabilities after reports that it had been rebuked by US authorities for failings.
The subdued outlook for eurozone interest rates hurt revenues at Commerzbank’s investment bank in the second quarter of the year, offsetting an otherwise strong performance for the firm in equity capital markets, debt underwriting, loans and equities trading.
BNP Paribas has made as-yet-undisclosed cuts to its balance sheet as it prepares to pay a US$8.9bn fine for breaching US sanctions, analysts believe, with bosses trimming back on risk-weighted assets in order to avoid investors losing their dividend while keeping up capital ratios.