Steve Slater is associate editor of International Financing Review based in London and is responsible for the People & Markets section. Steve has worked for Thomson Reuters since 2001. He joined IFR at the start of 2016 after a decade covering European banks for Reuters, including the financial crisis bail-outs and nationalisations, takeovers, senior management changes and industry scandals. He has worked as a financial journalist in London and New York, covering commodities, equities and banking and capital markets.
The value of distressed debt and bankruptcy restructurings completed in the first half of this year jumped 28% from a year ago to US$105.9bn, led by the debt restructurings of Abengoa and Peabody Energy.
US bank Citigroup is setting up a broker-dealership in Frankfurt for its European Union operations when Britain leaves the European Union, joining other Wall Street rivals choosing to move staff to the German financial centre.
Nordea has delayed until September its decision on potentially moving its headquarters, saying it wants to assess if Nordic countries join the eurozone’s banking union.