UBS has changed the pay structure for about 10,000 staff, scrapping variable bonuses and instead giving them a fixed annual award, which the bank said is more transparent and reduces pay uncertainty.
Taiwanese life insurers have steered around curbs on the Formosa bond market by pouring money into Taiwan-listed exchange-traded funds focused on foreign bonds.
Veteran bond manager Bill Gross, who co-founded Pimco in 1971, will retire from Janus Henderson to focus on managing his personal assets and charitable foundation, Janus Henderson said on Monday.
California utility PG&E filed the largest bankruptcy case in more than a decade, but rather than scurry away, some of its largest creditors continued to build positions throughout its capital structure.
Sorting out Venezuela’s financial situation is likely to require the most complicated debt restructuring ever, according to a former US Treasury official who represented the country at the International Monetary Fund for three years.
Bondholders who are part of institutions with detailed policies committed to addressing climate change are reluctant to use their ultimate sanction and stop financing debt issues by companies causing damage to the environment.
Fitch launched its European high-yield index report on Thursday, which expands its research offerings in the leveraged finance sector.