City Moves | Who’s switching jobs January 22, 2013 Carmignac Gestion Keith Ney has been appointed co-manager of the asset management firm’s European bond fund, working alongside Carlos Galvis. He has worked for Carmignac for eight years, most recently as head of credit. Stenham Asset Management The asset management firm has made two appointments to its investment team. Akshay Krishnan joins as a senior [...]
Markets dive on Eurozone fears February 4, 2013 THE EUROZONE crisis returned with a bang yesterday, with shares sliding and bond yields soaring, as fresh political troubles engulfed the bloc. Yields on Spanish 10-year bonds rocketed up 23 basis points – a 4.42 per cent rise on the day – while their Italian equivalents added some 14 basis points – a 3.21 per [...]
How one rogue trader’s actions have inspired changes at UBS November 20, 2012 THE UBS of today is quite a different bank to the one that employed Kweku Adoboli up to the time of his fraud last year. It has a different chief executive, following the departure of Oswald Grubel very shortly after the scandal broke, and it has a finely tuned strategy that now emphasises the client-focused [...]
No more heads to roll at UBS for key rate fiddling December 19, 2012 UBS chief executive Sergio Ermotti yesterday led the charge to rehabilitate the bank’s image, insisting major changes have already been made to make sure Libor fiddling can never happen again. The fine comes after a series of blows shaking up the bank, from rogue trader Kweku Adoboli losing £1.4bn to the bank deciding to wind [...]
Who’s switching jobs November 8, 2012 Houlihan Lokey Sascha Kroissenbrunner has been appointed director in the investment bank’s industrials group. He joins from UniCredit Group in Vienna, where he was managing director and head of the general industrials group for central and eastern Europe. He has also held senior positions at the Royal Bank of Scotland in London and Frankfurt. State [...]
Profile: Andrea Orcel October 30, 2012 WHEN Andrea Orcel left Bank of America Merrill Lynch earlier this year to join UBS as its co-head of investment banking, many in the City believed it was only a matter of time before he claimed the top job, writes David Hellier. Yesterday the Swiss bank announced that Orcel will be leading the advisory functions [...]
Profile: Andrea Orcel October 30, 2012 WHEN Andrea Orcel left Bank of America Merrill Lynch earlier this year to join UBS as its co-head of investment banking, many in the City believed it was only a matter of time before he claimed the top job, writes David Hellier. Yesterday the Swiss bank announced that Orcel will be leading the advisory functions [...]
Banco Popular deal puts a spring in bankers’ steps December 6, 2012 THE problems of the Eurozone are far from over but some investment bankers involved in capital raising issues are hoping a type of normality is returning to their battered markets. The contrasting fortunes of two financial deals, at either end of the year, provide the backdrop to their growing confidence. At the start of 2012 [...]
City Moves | Who’s switching jobs October 17, 2012 RBS Invoice Finance James Shaw has been appointed head of portfolio, corporate at the invoice finance division of RBS. He joins from GE Capital, where he worked for 12 years. Shaw will be responsible for delivering audit and risk management to the firm’s corporate client base. Nomura Kaan Basaran has been appointed head of origination [...]
BNP and Credit Agricole start internal law-breaking probes August 27, 2012 ITALIAN bank UniCredit became the latest bank to admit it is under investigation by the US authorities for breaching Iranian sanctions, making public statements over the weekend. And French banks BNP Paribas and Credit Agricole both revealed they are carrying out internal probes into potential breaches of US regulations – although they would not say [...]