Day of change at UBS and Bank of America March 22, 2012 YESTERDAY was a day of musical chairs at two of the City’s top investment banks as both UBS and Bank of America Merrill Lynch (BoAML) made significant management changes. UBS, the bank still reeling from the after-effects of the rogue trader scandal, indicated its intention to remain a major force in investment banking by hiring [...]
Fed says it will publish interest rate projections January 3, 2012 THE FEDERAL Reserve will from this month onwards publish quarterly projections of future interest rates, in a move widely seen as a further attempt to stimulate the economy. The policy change “could provide an opportunity for a back door policy easing in January”, said Harm Bandholz of UniCredit last night. “If for example most participants [...]
Sovereign risk appetite falls January 31, 2012 SOVEREIGN wealth funds are heavily reining in their investment in risky new deals because they are sitting on huge losses from bets made during the crisis, according to three senior investment banking sources. In aggregate, sovereign wealth funds have lost a staggering $62bn of the $90bn in capital they plunged into financial stocks in 2007-2008, [...]
Sovereign risk appetite falls January 31, 2012 SOVEREIGN wealth funds are heavily reining in their investment in risky new deals because they are sitting on huge losses from bets made during the crisis, according to three senior investment banking sources. In aggregate, sovereign wealth funds have lost a staggering $62bn of the $90bn in capital they plunged into financial stocks in 2007-2008, [...]
FTSE steady as investors eye US jobs data January 6, 2012 The FTSE 100 was steady in early trading with media and telecoms gains offsetting weak financial services and retail sectors. Investors were focusing on US jobs data out later while the Eurozone debt crisis continued to dampen sentiment. Analysts’ fears that Eurozone countries and banks could struggle to tap markets for capital this year continue [...]
FTSE solid as banks edge up January 9, 2012 The FTSE 100 saw modest advances today ahead of talks between France and Germany on how to create the environment for a sustained recovery in the Eurozone. The bloc’s debt crisis will be top of the agenda when German Chancellor Angela Merkel and French President Nicolas Sarkozy meet in Berlin. Later this week the European [...]
FTSE solid as banks edge up January 9, 2012 The FTSE 100 saw modest advances today ahead of talks between France and Germany on how to create the environment for a sustained recovery in the Eurozone. The bloc’s debt crisis will be top of the agenda when German Chancellor Angela Merkel and French President Nicolas Sarkozy meet in Berlin. Later this week the European [...]
S&P extends its warnings December 7, 2011 CREDIT rating agency Standard & Poor’s piled further pressure on the Eurozone last night by putting the EU’s triple-A rating on downgrade watch. The US agency then added to the beleaguered bloc’s misery by issuing a similar ratings warning to some of the largest banks, including France’s Societe Generale and BNP Paribas, Italy’s UniCredit and Germany’s [...]
Bank’s fate rests on stylish Swiss Sergio November 15, 2011 SUAVE, smooth and Swiss, Sergio Ermotti was seen by many – but not all – as the man to restore the fortunes of UBS. The former deputy head of UniCredit spent most of his early career at Merrill Lynch, where he rose to become co-head of global equity markets. The well-dressed executive is seen as [...]
Bank’s fate rests on stylish Swiss Sergio November 15, 2011 SUAVE, smooth and Swiss, Sergio Ermotti was seen by many – but not all – as the man to restore the fortunes of UBS. The former deputy head of UniCredit spent most of his early career at Merrill Lynch, where he rose to become co-head of global equity markets. The well-dressed executive is seen as [...]