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Lombard Odier has appointed Nicolas Walon as the new Head of Global Market Services, effective March 2025. With 25 years of experience in cross-asset derivatives, he joins from Bank J. Safra Sarasin, where he led Financial Engineering, and has held senior roles at major investment banks in London and New York. Paul-Andre Pittard is currently overseeing the division on an interim basis.
UBS is under pressure to bolster its equity capital, with discussions around increasing it by 15 to 25 billion francs. While UBS argues against excessive capital requirements, it lags behind several European competitors in capital ratios, prompting calls from regulators for a stronger balance sheet. The Swiss Finance Institute is hosting an event to debate the future of banking capital requirements, highlighting the need for UBS to reassess its capital strategy.
Deutsche Bank has rehired Randy Russell as co-head of its media and telecommunications investment banking division, partnering with Jacqueline Gordon. Russell will operate from New York, as announced in a memo by Gavin Deane and Bruce Evans, the bank's leadership in TMT and Americas origination and advisory.
A group of banks led by Deutsche Bank AG is facing challenges after being unable to sell a portion of an $875 million term loan for the acquisition of protein bar brand FitCrunch. The debt remained unsold before 1440 Foods finalized the purchase on November 1. Jefferies Financial Group, Macquarie Group, and BNP Paribas also provided financing for the deal.
UBS has launched its first tokenized money market fund, the uMINT, on the Ethereum blockchain, responding to rising investor demand for tokenized assets. This initiative aligns with UBS's broader strategy in digital asset management and reflects a growing trend among major banks like Goldman Sachs and Deutsche Bank to explore tokenization in finance. As tokenization gains traction, Ethereum solidifies its position as a leader in the real-world asset sector, with a current market value of $3 billion.
The DAX index rebounded at the start of November, closing at 19,255 points after a 0.9% gain, recovering from a weak October. The upward momentum could lead to a break above the October low of 19,330, while a drop below 19,250 may test lower support levels. The index, consisting of 30 major German companies, is a key performance indicator for the Frankfurt stock market.
Tesla Inc. has successfully sold $499 million in bonds backed by loans for customers purchasing solar equipment. The five-tranche deal, marketed by Deutsche Bank, received investment-grade ratings from Fitch, reflecting the strong credit profiles of the borrowers involved.
U.K. borrowing costs rose following a budget announcement that included £70 billion in spending funded by tax hikes, raising concerns about fiscal responsibility and inflation. Analysts believe this situation differs from the 2022 mini-budget crisis, though market apprehension remains due to the government's investment strategy and upcoming U.S. elections. The British pound has also seen fluctuations against the dollar and euro amid these developments.
German online car-parts dealer Autodoc SE has selected Barclays, Citigroup, Deutsche Bank, and Jefferies to lead its upcoming initial public offering in Frankfurt, several years after a previous attempt. The company's valuation for the IPO may be lower than the €10 billion sought in 2021.
CA Indosuez has appointed Mikhail Galtsov as the new Head of Corporate and Investment Banking, effective immediately. Previously with BNP Paribas, Galtsov brings over 25 years of experience and will focus on enhancing the bank's corporate banking presence, particularly with major Swiss corporations. CEO Marc-André Poirier emphasizes the potential synergies between corporate and private banking divisions.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
lombard odier appoints new head of global market services starting 2025
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Michael Strobaek
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08:51 05.11.2024
ubs faces pressure to increase equity amid capital ratio concerns
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08:16 05.11.2024
Deutsche Bank appoints Randy Russell as co-head of media and telecom banking
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Randy Russell
Gavin Deane
Bruce Evans
Jacqueline Gordon
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20:55 04.11.2024
deutsche bank group faces challenges with fitcrunch acquisition financing
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19:40 04.11.2024
ubs launches first tokenized money market fund on ethereum blockchain
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USA
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15:33 04.11.2024
DAX rebounds in November driven by Wall Street recovery and labor data
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08:25 04.11.2024
tesla raises 499 million through bonds backed by solar equipment loans
21:32 01.11.2024
uk borrowing costs rise amid concerns over fiscal policy and inflation
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12:24 01.11.2024
autodoc selects banks for potential ipo in frankfurt next year
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Citigroup Inc.
DEU
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11:27 01.11.2024
ca indosuez appoints mikhail galtsov as head of corporate banking
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Mikhail Galtsov
Georg Orssich
Marc-André Poirier
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10:18 01.11.2024
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