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Monday, 18 December 2017

Philip Scipio' s stories

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  • Morgan Stanley bolsters SSA

    People & Markets | 15 December 2017

    Morgan Stanley has bolstered its sovereign, supranational and agency debt capital markets business with three hires, according to sources.

  • US bank stocks soar into 2018

    People & Markets | 15 December 2017

    The top five US banks continued to surge one year after the surprise election of Donald Trump unleashed hopes of tax cuts and regulatory reform. While neither has come to pass, the expectations are still keeping the stocks sailing.

  • Last beat for iHeart

    People & Markets | 15 December 2017

    iHeartMedia is looking to issue debt secured by the only asset it has that is not in hock: part of its stake in Clear Channel Outdoor Holdings. It is possibly the company’s last manoeuvre to avoid being swallowed by its debt and overrun by senior bondholders.

  • M&A Adviser of the Year: Morgan Stanley

    M&A Adviser of the Year: Morgan Stanley

    All Special Reports | 15 December 2017

    For successfully defending businesses such as Unilever from unwanted approaches, and maximising prices when a bid made sense, as well as advising on some of the most significant strategic acquisitions that have been completed in the past 12 months, Morgan Stanley is IFR’s M&A Adviser of the Year.

  • Restructuring Adviser of the Year: Houlihan Lokey

    Restructuring Adviser of the Year: Houlihan Lokey

    All Special Reports | 15 December 2017

    Houlihan Lokey was involved in most major corporate reorganisations in 2017. The firm dominated by driving the kind of outcomes possible only when a team of advisers is focused on unlocking value for its clients. Houlihan Lokey is IFR’s Restructuring Adviser of the Year.

  • US banks brace for 15% Q4 trading fall

    People & Markets | 08 December 2017

    The largest US banks are predicting revenue from bond and equity trading will fall about 15% in the fourth quarter from a year ago, putting trading revenues for the top five firms on course to end the year down 7% from 2016.

  • CVS/Aetna deal shakes up M&A tables

    People & Markets | 08 December 2017

    CVS Health’s proposed US$69bn acquisition of Aetna is shaking up rankings for M&A advisers in the last month of the year.

  • Derivatives at failing banks still a danger

    People & Markets | 08 December 2017

    The US Office of Financial Research said the treatment of derivatives held by a failing financial institution is one of the top threats to the stability of the financial system.

  • MOVES-Goldman names Stein top administrative officer

    Ticker | 06 December 2017

    Goldman Sachs named Laurence Stein chief administrative officer effective January 1 succeeding Jeffrey Schroeder, who is retiring from the bank after nearly 30 years, the last 10 as chief administrative officer.

  • SunTrust Bank logo

    MOVES-SunTrust hires Carpenter for healthcare banking

    Ticker | 01 December 2017

    SunTrust Robinson Humphrey, the corporate and investment bank of SunTrust Banks, has hired Kevin Carpenter as a managing director in its technology and services investment banking group, working out of Atlanta.

  • Logo of investment bank Jefferies

    MOVES-Jefferies hires Slosser to boost 144A roster

    Ticker | 01 December 2017

    Jefferies has hired FBR head of investment banking Ken Slosser as its head of permanent capital, a new position in its equity capital markets division.

  • Canadian banks hit and miss in Q4

    People & Markets | 01 December 2017

    Canadian banks offered a mixed bag for their latest quarter as their capital markets businesses alternately boosted and dragged down performance.

  • PJT names Zelin head of restructuring

    People & Markets | 17 November 2017

    PJT Partners named Steve Zelin as head of its restructuring and special situations group to succeed longtime head of the business Tim Coleman.

  • Bonuses set to swing higher

    People & Markets | 17 November 2017

    It’s beginning to look a lot like Christmas for investment bankers with bonuses for this year set to rise as much as 20% over 2016 levels in some segments, according to consultancy Johnson Associates.

  • MOVES-Evercore hires Paul Aaron from Goldman

    Ticker | 14 November 2017

    Independent investment bank Evercore hired ex-Goldman Sachs banker Paul Aaron as a senior managing director in its advisory group.

  • MOVES-PJT names Steve Zelin head of restructuring

    Ticker | 14 November 2017

    PJT Partners named Steve Zelin as head of its restructuring and special situations group succeeding longtime group head Tim Coleman effective January 1. Coleman has been named global chairman of the group.

  • US dollar bills

    Investment banking bonuses on the upswing in 2018

    Ticker | 14 November 2017

    It’s beginning to look a lot like Christmas for investment bankers with bonuses set to rise dramatically, as much as 20%, over 2016 levels in some segments, according to consultancy Johnson Associates.

  • iHeart tries to resuscitate failing exchange

    People & Markets | 10 November 2017

    iHeart Communications is trying to breathe life into its massive debt exchange, but time is running out and some creditors would prefer if the US media company were forced to seek bankruptcy protection.

  • Goldman shakes up leadership ranks

    People & Markets | 10 November 2017

    Goldman Sachs shook up its leadership team last week for trading, risk and strategy as it attempts to reverse a slump in performance in some of its core areas.

  • Fed's Quarles sees Dodd-Frank C

    People & Markets | 10 November 2017

    The US Federal Reserve’s top bank regulator, Randal Quarles, affirmed the hopes of major US banks last week when he vowed to review all of the Dodd-Frank era rulemaking with a view to easing the regulatory burden.

  • US dollar bills

    M&A fee battle pits David v Goliath

    Top News | 10 November 2017

    Independent investment banks have been well represented on every large M&A transaction over the past 15 years, and Broadcom’s new US$103bn (US$130bn including debt) hostile bid for Qualcomm is no exception.

  • MOVES-Goldman Sachs' chief risk officer retires

    Ticker | 06 November 2017

    Goldman Sachs chief risk officer Craig Broderick will retire after 32 years in January, according to an internal memo obtained by IFR. A Goldman Sachs spokesman confirmed the contents.

  • Cowen names Wieseneck, Charney co-presidents

    People & Markets | 03 November 2017

    Investment bank Cowen & Company has named Larry Wieseneck and Dan Charney co-presidents, both reporting to chief executive Jeffrey Solomon.

  • Puerto Rico bonds may be attracting new vultures

    People & Markets | 03 November 2017

    Puerto Rico’s benchmark 8% 2035 bond is recovering from the low of 25 cents as the investor base shifts from mutual funds that had been trying to preserve creditors rights towards hedge funds who have a higher threshold for pain and can wait longer to see a recovery.

  • Powell picked as next Fed chairman

    People & Markets | 03 November 2017

    US President Donald Trump tapped Jerome Powell to be the next chairman of the Federal Reserve, replacing Janet Yellen when her term expires in February.

  • MOVES-Cowen & Co names Wieseneck, Charney co-presidents

    Ticker | 01 November 2017

    Investment bank Cowen & Company named Larry Wieseneck and Dan Charney co-presidents reporting to chief executive Jeffrey Solomon.

  • MOVES-Goldman hires Jindal from Morgan Stanley

    Ticker | 01 November 2017

    Goldman Sachs hired former Morgan Stanley banker Nitin Jindal as partner and head of North American natural gas and power trading.

  • Boutique market share gains checked in Q3

    People & Markets | 27 October 2017

    Independent investment banks Lazard and Evercore continue to report record revenue even as the market for M&A sputters compared with last year. But bulge-bracket banks appear to be taking back market share they lost in recent years.

  • Momentive IPO may have to wait

    People & Markets | 27 October 2017

    The US Second Circuit court of Appeals threw sand in the gears of Momentive Performance Materials’ planned initial public offering, opening the door for bondholders to claim more than US$100m in interest payments.

  • New tests for financial 'blood pressure and body temperature'

    People & Markets | 27 October 2017

    The US Office of Financial Research has unveiled two new tools to track risk in the global financial system, which it equates to testing the blood pressure and body temperature of a patient.

  • MOVES-Paul Weiss hires ex-Kirkland lawyer Paul Basta

    Ticker | 24 October 2017

    New York law firm Paul Weiss has hired Paul Basta as co-chair of its bankruptcy and corporate reorganization group. He will work alongside Alan Kornberg.

  • Greenhill battered by weakness in Europe

    People & Markets | 20 October 2017

    Boutique investment bank Greenhill posted a loss of US$6m in the third quarter as revenue fell 37% to US$48m as few of its major M&A transactions closed and income slumped in Europe.

  • Banks fear Q4 trading to remain grim

    People & Markets | 20 October 2017

    Banks are bracing themselves for another down year in fixed income trading after a premature celebration last year that trading had rebounded.

  • Goldman, Morgan Stanley less reliant on trading for earnings win

    Ticker | 17 October 2017

    Morgan Stanley and Goldman Sachs posted solid third quarter results easily beating analysts’ expectations for the quarter as revenue from investment banking outperformed.

  • MOVES-RenCap takes two for emerging markets FICC

    Ticker | 17 October 2017

    Renaissance Capital hired Amir Zada as a managing director and head of special situations, fixed income commodity and currency sales focusing on Russia/CIS and frontier markets at its RenCap Securities unit.

  • Independent voices stand up to bond issuers

    Top News | 13 October 2017

    Independent research firms are carving out a lucrative niche in the US bond market with hard-hitting analyses that bolster investor resolve when it comes to aggressive bond terms.

  • ECM helps Citi, but FICC resumes freefall

    People & Markets | 13 October 2017

    Citigroup came within a hair of outperforming JP Morgan in equity underwriting in the third

  • MOVES-Houlihan hires two for dispute resolution group

    Ticker | 10 October 2017

    Houlihan Lokey hired Michael Hedden and Daniel Beaulne for its dispute resolution consulting practice.

  • Goldman may corner bitcoin market making

    People & Markets | 06 October 2017

    Goldman Sachs is weighing options for trading crypto-currencies, including bitcoin, as rivals continue to voice loud reservations.

  • Tax plan success may spur mega M&A deals

    People & Markets | 06 October 2017

    With US President Donald Trump’s tax plan finally making its way into the public sphere, a key stumbling block for large takeover transactions could fall away and create a beehive of activity.

  • Puerto Rico bondholders relent on recovery hopes

    People & Markets | 06 October 2017

    A few words from US President Donald Trump last week stripped away any expectation that holders of Puerto Rico’s general obligation bonds would still see a recovery of 50 cents or more on the dollar.

  • MOVES-Credit Suisse taps Mesny, Rubio-Alvarez to run EMEA FIG

    Ticker | 29 September 2017

    Credit Suisse named Max Mesny and Armando Rubio-Alvarez co-heads of the EMEA financial institutions group, replacing Eric Richard, who will become a vice chairman of the group and focus on strategic client coverage.

  • Puerto Rico

    Puerto Rico recovery plan miffs creditors

    Top News | 29 September 2017

    Puerto Rico is counting on US federal aid to rebuild after a massive hurricane ripped the island apart - but that could leave more than a few bondholders unhappy.

  • US banks may get two years between living wills

    People & Markets | 29 September 2017

    The eight largest US banks will get another year to rework their resolution plans, or living wills, to win approval of the Federal Reserve and the Federal Deposit Insurance Corp.

  • Greenhill with envy

    People & Markets | 29 September 2017

    Greenhill made an abrupt about-face from recent comments about its capital strength and last week unveiled an aggressive recapitalisation plan.

  • MOVES-Natixis hires ex-Deutsche Bank economist Lavorgna

    Ticker | 25 September 2017

    Natixis has hired former Deutsche Bank chief economist Joseph Lavorgna, naming him chief economist for the Americas.

  • Hurricane tears at Puerto Rico bondholder recovery estimates

    People & Markets | 22 September 2017

    Hurricane Maria has devastated Puerto Rico, plunging the island into darkness, added to uncertainty about how restructuring of debt will play out, and left investors reconsidering recovery projections, according to restructuring advisers involved in the process.

  • Window closing to change US stress test for 2018

    People & Markets | 22 September 2017

    Hope is fading that the US Federal Reserve will make changes to its annual stress test of major banks in time for it to be used in 2018.

  • Record investment banking for Jefferies

    People & Markets | 22 September 2017

    Independent investment bank Jefferies reported a record three months for investment banking and defied expectations with only a modest slide in third-quarter trading results.

  • The entrance to the Toys "R" Us Times Square store is seen in New York

    Playtime over for Toys 'R' Us

    Top News | 22 September 2017

    Toys ‘R’ Us has agreed a US$3.125bn debtor-in-possession financing as it seeks to restructure US$5bn of long-term debt.

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