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HSBC admits defeat

Financial Times - Banking

Plus, Brighthouse Financial considers a sale as asset managers clamour for insurers and Golden Goose lands a non-IPO deal

IPO 63
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Joint trade associations highlight equity, fixed income and market data concerns ahead of upcoming Mifir review

The TRADE

EU asset managers, banks and brokers are urging policy markets not to succumb to pressure that could potentially lead to suboptimal outcomes in the Markets in Financial Instruments Directive (Mifid/r) review.

Trading 59
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How Merchant Banks Help Businesses Grow and Succeed

Razorpay

Underwriting Services Merchant banks also provide underwriting services for initial public offerings (IPOs), private placements, follow-on public offerings (FPOs) and rights issues. Merchant banks offer a wide range of services such as underwriting, issuing of securities, asset management, portfolio management, and advisory services.

Bank 52
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A welcome freedom, temporary measure or futile task?: The industry reacts to the UK’s new research proposal

The TRADE

Rachel Kent’s review focuses on removing enough of the operational burdens to encourage asset managers to take advantage of new rebundling freedoms, but not so much that transparency to asset owners is completely jettisoned.

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Fireside Friday with… Stifel’s Raymond Powell

The TRADE

We have seen a stabilisation of money flows in recent months, global funds are returning to the UK, while we continue to see outflows (mostly to US) of domestic asset managers. I do not see the larger asset managers moving away from that model at all. We need that IPO supply and pipeline to replenish.

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How do Banks Make Money? Explanation, Examples

Peak Frameworks

When Facebook went public in 2012, it needed an investment bank to handle the Initial Public Offering (IPO). Goldman Sachs was one of the lead underwriters and earned considerable fees and reputation points for facilitating one of the largest tech IPOs ever.

Bank 52
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Event-Driven Hedge Funds: The Best Home for Bankers Turned Investors?

Mergers and Inquisitions

Here it is in the investor presentation: We don’t know the planned valuation for CMS in this spin-off, but let’s assume that Jacobs plans to spin it off at an IPO offering price that implies an 11.5x All the large multi-manager funds , such as Millennium, also use event-driven strategies to some extent.

Funds 64