Bank strategy and results
Proposals approved by European Union leaders last week will make it likely major investment banks will locate more of their European business outside the UK once it leaves the EU.
Goldman Sachs is ramping up its presence in South Africa and plans to offer onshore fixed income and foreign exchange products, and has teamed up with Investec for equities trading.
JP Morgan’s former vice-chair of Asia investment banking has become the first person to face criminal charges in Hong Kong over the bank’s “Sons and Daughters” programme that connected potential hires to investment banking opportunities.
The cost of default protection on Deutsche Bank declined sharply last week following the introduction of new derivatives contracts used to insure against German bank debt defaults.