Tuesday, 18 September 2018

Owen Wild' s stories

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  • A man is seen behind the entrance door of the offices of the Financial Services Authority (FSA) in Canary Wharf, London

    Pre-deal research: banks feel pressure on analysts

    Equities | 07 May 2011

    The uncomfortable issue of the independence of research has cropped up again with regard to IPOs in the EMEA region, with some bankers expressing concern about the selection of banks and payment of fees on the basis of the level of valuations given by analysts. Glencore was one name referenced in conversations last week.

  • Anshu Jain finally gets to bat at top of the order

    People & Markets | 30 July 2011

    Deutsche Bank has finally settled on a structure that looks set to lead to Anshu Jain’s coronation as the bank’s chief executive. But first comes an apprenticeship where he and Juergen Fitschen will act as co-chief executives for at least three years.

  • Deutsche takes sales and trading hit

    People & Markets | 30 July 2011

    Deutsche Bank held firm in the second quarter, with both revenues and pre-tax profit at its corporate and investment banking division more or less flat on a year ago. Quarter-on-quarter comparisons were less favourable, however, with a massive drop in sales and trading leading to a 50% drop in profits to €1.28bn.

  • Fears of CB market closure

    Structured Equity | 12 August 2011

    The gyrations of equity markets last week left convertible bond originators cursing conditions that continue to conspire against issuance. A measure of how down bankers could be were conveyed in the words of one EMEA analyst, who said: “It is probably too soon to draw a blank for the rest of the year” – indicating where the bearish feel the market could be headed.

  • First Reserve cashes in on Glencore

    Structured Equity | 09 September 2011

    An absence of primary issues had left some uncertainty as to what demand was like in the convertible bond market in Europe, until a rare secondary sale of bonds. The US$1.074bn sale showed strong demand for bonds from hedge funds, with outright investors then expressing their enthusiasm following the bookbuild.

  • Rights issues off the agenda

    Top News | 17 September 2011

    If one thing is certain in the European capital markets, it is that European banks desperately need to raise more equity in order to boost strained capital levels. Unfortunately, it is hard to see how they will be able to do this. Certainly, underwritten rights issues – under normal circumstances the mechanism of choice to raise equity for banks – are off the agenda for many institutions. Quite simply, most potential underwriting banks are no longer willing to underwrite rights issues.

  • Nomura first to cut European ECM

    People & Markets | 23 September 2011

    A round of redundancies at Nomura on September 16 included the surprising departure of managing director Julian Kozerski after less than a year at the firm. The decision to axe his role as head of European equity-linked came after a year-long search for a replacement for Lorraine Lodge that intensified in the final few months when the equity-linked desk was left empty by the departure of Juan Rodriguez to UBS.

  • IPOs outperform - again

    Equities | 23 September 2011

    Last week’s postponement of the Evonik IPO until 2012 (see “Evonik cancels on poisonous markets”) was yet another blow to ECM bankers already reeling from the grim drama of collapsing stock prices playing out on their screens. Clearly with the VDAX stubbornly holding around the 40 mark – and the VIX late in the week catching Europe up – there is set to be little activity, and any new issues that do come

  • Lottery

    European ECM shuts down with Loterias cancellation

    Ticker | 29 September 2011

    The cancellation of the up to €7.5bn IPO for Spanish lottery operator Loterias has dealt a hammer blow to European ECM teams a

  • Lottery

    Loterias failure damns ECM for 2011

    Top News | 30 September 2011

    The cancellation of the multi-billion euro IPO for Loterias has dealt a hammer blow to the prospects of a recove

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