ShareResizeHSBC is interested in automating functions within its markets business, people familiar with the talks told FNPhoto Illustration: FN StaffHSBC is looking to automate some back office jobs using AI to boost its investment bank’s returns,Financial Newshas learned.The UK bank has held discussions with British startup CausaLens about rolling out AI agents within its corporate and institutional banking division, according to people fam...
ShareResizeMorgan Stanley is relocating a senior banker from Madrid to London to head up equity syndicate in EmeaPhoto: Bloomberg via Getty ImagesMorgan Stanley has named a new head of equity syndicate in Europe following the departure of its previous lead banker to Citigroup. Javier Esteve, a managing director within Morgan Stanley’s equity capital markets division, is set to take over as head of equity syndicate for Europe, the Middle East...
ShareResizeCitigroup has new heads for its DCM business in LondonPhoto: Mike Kemp/Getty ImagesCitigroup has hired a former JPMorgan banker to lead its debt capital markets business in Europe as the US investment bank continues to shake-up the business.Rob Cascarino will join Citigroup in the coming week as co-head of DCM for the UK, Europe, the Middle East and Africa, according to a person familiar with the matter. He will lead the team alongside...
ShareResizeDeutsche Numis employees will move into Deutsche Bank’s London headquarters in JanuaryPhoto: Mike Kemp/Getty ImagesDeutsche Bank is preparing to move former Numis employees into its UK headquarters by January as it looks to draw a line under the integration of the City broker more than two years after its acquisition completed.Deutsche Numis will transfer hundreds of employees into 21 Moorfields from early next year, which will mark on...
ShareResizeCitigroup has bolstered its European rates trading businessPhoto: Dominika Zarzycka/Getty ImagesCitigroup has hired a top rates trader from JPMorgan to lead its business in Europe as banks look to capitalise on a surge in revenue.Tom Prickett has joined Citigroup as head of G10 rates for Europe, the Middle East and Africa, the bank said in a statement.
ShareResizeUBS has added dealmaker Jacob Spens to its Nordics teamPhoto: Roberto Machado Noa/Getty ImagesUBS has hired a senior dealmaker from BNP Paribas to bolster its investment bank in the Nordics.Jacob Spens is set to join UBS as a vice chair in its Nordics investment bank, according to a memo seen byFinancial News.
ShareResizeRBC has added senior banker Tom Raynesford to its corporate broking businessPhoto: Anatoliy Cherkasov/NurPhoto/Getty ImagesRBC Capital Markets has recruited a senior HSBC dealmaker as it expands its European investment banking operations.The Canadian bank has hired Tom Raynsford as a managing director within its UK corporate broking business, according to a memo seen byFinancial News.
ShareResizeFenchurch Partners has bolstered its operations in New YorkPhoto: Roy Rochlin/Getty ImagesBarclays’ global co-head of financial institutions has been hired by specialist boutique Fenchurch Partners to lead its business in the US.Gautam Chawla is joining Fenchurch as a senior managing director and co-head of its US office, the bank said in a statement.
ShareResizeUBS has hired a new vice chair of Emea in a bid to increase collaboration across divisionsPhoto: Mike Kemp/Getty ImagesUBS has hired a senior executive to develop closer ties with clients in Europe as it looks to sell its products across divisions.The Swiss bank has named Magdalena Gatzinska as vice chair for Europe, the Middle East and Africa, according to a memo announcing the appointment seen byFinancial News.
ShareResizeThe bank is eyeing expansion in the metals sectorPhoto: Artur Widak/Getty ImagesRoyal Bank of Canada has hired a senior commodities salesman from Citigroup as a managing director at its London office, as the lender looks to grow its investment banking arm in Europe.Ron Ruffini has joined RBC Capital Markets as head of commodities risk solutions for Europe, the Middle East and Africa as well as the Asia-Pacific region, a spokesperson sa...
ShareResizeMorgan Stanley International adds another non-executive directorPhoto: Bing Guan/Getty ImagesMorgan Stanley has added former BlackRock executive Anna Khazen to the board of its UK arm.Khazen has joined the Wall Street bank as a non-executive director for Morgan Stanley International, which is based in London and oversees its businesses outside the US.
ShareResizeThe French bank has been investing in its equities team Beata Zawrzel/NurPhoto via Getty ImagesBNP Paribas’s fixed income unit notched a 26% rise in revenue during the second quarter, but its stock traders failed to follow Wall Street rivals by riding the volatility wave caused by US president Donald Trump’s tariff policies.The French bank brought in €1.4bn in fixed income trading revenue in the second quarter of 2025, an increase of 2...
ShareResizeWilliam Blair’s head of European investment banking, Stewart Licudi, said it is aiming to add dealmakers across EuropeMid-market investment bank William Blair set to bolster its European business as it looks to capitalise on an expected wave of private equity activity. The bank is looking to add dealmakers in key sectors and countries this year, its head of European investment banking Stewart Licudi toldFinancial News.
ShareResizeLloyds is introducing a new performance management system for staffPhoto: Mike Kemp/Getty ImagesLloyds Banking Group is introducing a new performance system for its employees that could lead to thousands of job cuts, according to reports.The UK lender is set to roll out a system that will see up to 5% of its employees who do not reach performance expectations put at risk, theFinancial Timesreported citing people familiar with the matte...
ShareResizeVTB Capital’s London arm is being wound down over the next four yearsPhoto: Richard Baker/Getty ImagesRussian investment bank VTB Capital paid a handful of London employees £3.3m in the first half of 2025, as administrators continue the complex process of unwinding the firm three years after it was shuttered in the UK.The bank, which announced plans to close its London operations shortly after Russia’s invasion of Ukraine in March 2022...
ShareResizeJPMorgan has shaken up the senior ranks of its European ECM teamPhoto: Mike Kemp/Getty ImagesJPMorgan has shaken up the senior leadership of its European equity capital markets team as it continues to bulk up in the region.Virginie de Grivel Nigam, who is currently head of ECM for the UK and Ireland, has been named head of equity-linked for Emea and head of execution within its equity underwriting unit in London, according to a memo se...
ShareResizePerella Weinberg has been steadily adding dealmakers this yearPhoto: Mike Kemp/Getty ImagesBoutique investment bank Perella Weinberg Partners has poached a senior dealmaker from rival Evercore to bolster its European technology team.Mathijn Queis is joining Perella as a partner within its European advisory business, and will start at the boutique on 11 August, a bank spokesperson said.
ShareResizeInvestment banks’ latest headcount figures are showing more positive signs for the sectorPhoto: Mike Kemp/Getty ImagesThe world’s biggest investment banks have kept headcount steady over the past 12 months after years of deep cuts as deals and trading revenue surges.Overall front office employee numbers at the top investment banks stood at 51,000 at the end of the first half of 2025, according to numbers provided toFinancial Newsby dat...
ShareResizeUBS has promoted Steve Studnicky to co-head ECM in the AmericasPhoto: Jb Reed/Getty ImagesUBS has shaken up the leadership of its US equity capital markets team and hired a pair of senior bankers as it looks to gain ground in the sector.The Swiss bank has hired Pete Castoro as head of healthcare ECM from JPMorgan and brought in Brian DeLeo from Citigroup to lead its coverage of technology companies in the unit, according to a memo seen...
ShareResizeDeutsche Bank has named new leaders of its DCM franchisePhoto: Michael Nguyen/Getty ImagesDeutsche Bank has promoted two senior dealmakers to lead its debt capital markets business as the German lender looks to expand its investment bank.Marc Fratepietro and Mark Lewellen have been promoted to global co-heads of DCM, according to people familiar with the matter.
ShareResizeJPMorgan has hired Citigroup banker Casper ElnegaardPhoto: Mike Kemp/Getty ImagesJPMorgan has poached a senior dealmaker from Citigroup as it continues to bolster its European investment bank.Casper Elnegaard, a managing director within Citigroup’s investment banking team in Copenhagen, is set to make the switch to JPMorgan, according to people familiar with the matter.
ShareResizeGoldman Sachs was the first major bank to overhaul its compensation structure after the UK scrapped an EU cap on bonuses Photo: Bloomberg via Getty ImagesGoldman Sachs bolstered average bonuses by nearly 40% across its UK investment bank in 2024, the first year it was free of the long-standing cap on variable compensation.The Wall Street bank paid an average of $967,841 in bonuses for so-called material risk takers working in its Londo...
ShareResizeRaymond James has launched a new Paris officePhoto: Igor Golovniov/Getty ImagesRaymond James has kicked off a Paris office with the hire of a former Alantra dealmaker, becoming the latest bank to expand in the French capital.The mid-market focused investment bank, which has been expanding in Europe, has hired Franck Portais to lead its French business and has also opened a new office office in Paris, it said in a statement.
ShareResizeUBS has elevated senior bankers as part of a raft of changesPhoto: FABRICE COFFRINI/Getty ImagesUBS has hired a top Barclays dealmaker as part of a raft of senior changes within its investment bank that will see it double down on leveraged finance and financial sponsors coverage.In the latest senior changes at the Swiss bank, Peter Toal is joining UBS from Barclays as global head of leveraged and debt capital markets, according to a me...
ShareResizeCity brokers have had a tough time after a slow period for London capital markets Hollie Adams/Bloomberg via Getty ImagesTop executives at Peel Hunt have lost out on annual bonuses for a third straight year as the City investment bank grapples with subdued equity capital market activity.Chief executive Steven Fine was paid £465,000 for the financial year ending on 31 March 2025, which was unchanged from a year earlier, according to Pee...
ShareResizeAlantra shifted its investment bank HQ to the City in 2023. Its top bankers tell FN what comes nextPhoto: Jason Alden/Getty ImagesPhilipp Krohn admits that Alantra overstretched. The mid-market investment bank spent years opportunistically poaching from larger rivals, pushing ahead with an aggressive international expansion even as a deal slump forced Wall Street banks to cut thousands of jobs.In December last year, the bank unveiled a...
ShareResizeThis is a post of Financial News’s weekly investment banking newsletter. Get it in your inbox first and free each week bysigning up here.Financial Newshas just revealed its second annualMost Influential in European Financelist, which recognises the top names in the sector.
ShareResizeGoldman Sachs is set to ask juniors to confirm they are not accepting offers from other firms every three monthsPhoto: Michael Nagle/Getty ImagesGoldman Sachs is set to ask its junior bankers to declare their loyalty to the company every three months, as investment banks look to fend off poaching from private equity firms.The US investment bank will ask its new analyst hires to certify that they have not accepted jobs elsewhere every q...
ShareResizeRBC has added a senior dealmaker to run its Benelux businessPhoto: Christinne Muschi/Getty ImagesRBC Capital Markets has hired a senior dealmaker from Rabobank to lead its investment banking team in the Benelux region.The Canadian lender, which has been bolstering its European investment banking team in recent months, has taken on Sergio Herrera as a managing director and head of Benelux, according to a memo seen byFinancial News.
ShareResizeStifel has bolstered its investment banking team in ParisPhoto: Jevone Moore/Getty ImagesStifel has poached a senior Citigroup dealmaker for its investment bank in Paris as it continues to bolster its business in the French capital.The bank has hired Jean-Baptiste Didier as a managing director within its Paris office, according to a statement. He was latterly head of sponsor coverage in France at Citigroup, where he spent five years.
ShareResizeCitigroup has bolstered its European leveraged finance teamPhoto: Mike Kemp/Getty ImagesCitigroup has hired a senior Deutsche Bank leveraged finance banker as it continues to focus on gaining more work from financial sponsor clients. The US bank has hired Ludovic Ingelaere as a managing director for its leveraged finance team based in Paris, according to people familiar with the matter.
ShareResizeUniCredit has hired two senior bankers in GermanyPhoto: Emanuele Cremaschi/Getty ImagesUniCredit has hired a senior investment banker to lead its coverage of technology, media and telecoms in Europe as part of a broader push in Germany.Roland Nicklaus has joined the Italian lender as head of advisory for Germany and will also head up its TMT team across Europe, it said in a statement announcing the appointment.
ShareResizeThe Square Mile’s brokers are continuing to feel the squeezePhoto: Getty ImagesUK investment bank Peel Hunt’s losses increased last year, even as revenue improved amid a difficult market for London listings.The bank posted a £3.5m pre-tax loss for the full fiscal year to 31 March, with staff restructuring costs weighing on its business.
ShareResizeCitigroup has taken on JPMorgan dealmaker Amit Nayyar as co-head of UK, Europe and the Middle East and Africa investment banking coveragePhoto: Mike Kemp/Getty ImagesCitigroup has hired a senior JPMorgan dealmaker to lead its coverage of the technology sector in Europe as it continues its recruitment spree.Amit Nayyar has joined as co-head of UK, Europe and the Middle East and Africa investment banking coverage, according to a memo see...
ShareResizeCitigroup is bolstering its investment banking team, and some senior JPMorgan bankers have moved acrossPhoto: Mike Kemp/In Pictures via Getty ImagesThis is an online version of Financial News’s investment banking newsletter. Sign up to receive it in your inbox here.Depending on who you speak to, the narrative about the poaching war betweenCitigroup and JPMorgangoes one of two ways.
ShareResizePhoto: Mike Kemp/In Pictures via Getty ImagesUK investment bank Cavendish is looking for “selective acquisitions” to grow its business and is not “up for sale”, its chief executives toldFinancial News, following an approach by a private equity-backed professional services firm.Cavendish received an unsolicited approach from private equity-backed professional services firm S&W for its M&A and and debt advisory business. It confi...
ShareResizeLondon’s brokers have faced a tough time in recent years as equity capital markets deals have been in short supply Hollie Adams/Bloomberg via Getty ImagesCavendish has rejected a takeover approach for two of its key dealmaking units in a move that would have triggered a breakup of the City investment bank.London-listed Cavendish confirmed in a stock market statement that it had “received interest” in its private M&A and debt adviso...
ShareResizeEurope has lagged the US when it comes to AI, but dealmakers expect a wave of M&A activityPhoto: VCG/Getty ImagesBoutique investment bank Perella Weinberg is bulking up its technology advisory team in anticipation of a boom in AI and fintech deals in Europe. The bank, which advises on big M&A deals alongside larger rivals, has built a team of 30 dealmakers focused on technology in Europe since it launched four years ago an...
ShareResizeMizuho has hired a senior Macquarie banker to lead financial sponsors in EmeaPhoto: Kentaro Takahashi/Getty ImagesMizuho has hired financial sponsors dealmaker Michael Magliana as it continues to build out its European investment bank.Magliana has joined Mizuho as a vice chair and head of financial sponsors for Greenhill in Europe, the Middle East and Africa, according to people familiar with the matter. Mizuho acquired Greenhill in 20...
ShareResizeStandard Chartered has maintained its hybrid policy as many banks want staff to return in personPhoto: May James/Getty ImagesStandard Chartered is sticking with its hybrid working policy as many of its banking rivals call staff back to the office. The UK lender, which was one of the first banks to introduce a formal hybrid working policy in November 2020, is “maintaining our current approach”, according to a memo sent to staff by ...
ShareResizeBrian Moynihan (left), CEO of Bank of America; Jamie Dimon, CEO of JPMorgan Chases; and Jane Fraser, CEO of Citigroup.Photo: Getty ImagesAs the largest U.S. banks prepare to release earnings next week, their shares have surged to prices that may give them little room for error as investors evaluate the results.JPMorgan Chase, Bank of America, Wells Fargo, and Citigroup—the country’s four biggest banks—as well as Goldman Sachs and Morga...
ShareResizeING said it has too many senior bankers within its wholesale banking divisionPhoto: Klaudia Radecka/NurPhoto via Getty ImagesING is cutting 230 senior jobs within its wholesale unit after a period of expansion for the Dutch lender which has been adding dealmakers to its ranks in recent months.The bank will make around 230 redundancies within its wholesale banking unit with a focus on managing directors and directors, it said in a state...
ShareResizeAnthony Diamandakis left Citigroup in March after more than a decade at the US investment bankJPMorgan has hired Citigroup’s top private equity dealmaker in the latest senior dealmaker move between the two banks.Anthony Diamandakis, who was latterly co-head of Citigroup’s global asset managers unit, is set to join JPMorgan as a vice chair within its strategic investor group, according to people familiar with the matter and a memo seen ...
ShareResizeCiti UK CEO Tiina Lee said ‘it’s simply not true that clients have just been sitting on their hands’Photo: Laura Zapata/Getty ImagesCitigroup’s top UK bankers said confidence in M&A has sharply rebounded in recent weeks after volatility stoked by US tariffs in April slammed the breaks on dealmaking.Citi’s UK chief executive Tiina Lee told reporters at a 16 June roundtable that the Wall Street bank’s clients have been “extremely act...
ShareResizeRothschild has bolstered its coverage of private capital marketsPhoto: Antoine Antoniol/Getty ImagesRothschild has hired a private capital markets veteran to lead its distribution efforts within its global markets business.Laura Klaassen has joined the independent investment bank as head of private distribution, the bank said in memo announcing her appointment.
ShareResizeGoldman cuts underperforming staff every yearPhoto: Michael Nagle/Getty ImagesGoldman Sachs has decided against a second round of performance-related job cuts this year after both its investment bankers and traders pulled off a surprising surge in profit during the second quarter.The Wall Street bank is not planning a second round of redundancies this year after an improved performance across its business lines, theFinancial Timesrepor...
ShareResizeCitigroup has reorganised its DCM team in Europe after some major exitsPhoto: Mike Kemp/Getty ImagesCitigroup has shaken up its debt underwriting business in Europe, installing new leaders in key roles and combining business units.The Wall Street bank is bringing together its teams that work on investment grade loans and bonds in a new unit, as well as bolstering its coverage of financial institutions with a new lending division, accor...
ShareResizeBNP Paribas has promoted key executives to lead its corporate and investment bankPhoto: Erik McGregor/Getty ImagesBNP Paribas has named new leaders of its corporate and investment banking unit as part of a senior reshuffle and a broader overhaul of its business.The French lender said that Yannick Jung, who is currently head of its dealmaking unit within its corporate and investment bank, is moving to head up a new unit called commercia...
ShareResizeSir Simon Robey (pictured) and his partner Simon Warshaw have received a bumper price for their businessPhoto: Courtesy Young Classical Artists TrustSir Simon Robey certainly knows how to do a deal. Some seasoned City watchers have been astonished by the price that he and partner Simon Warshaw have extracted from Evercore to buy their firm Robey Warshaw.The pair have been looking to sell the business for a while and some observers had ...
ShareResizeBank of America has joined rivals in asking juniors to disclose job offersPhoto: Michael Nagle/Getty ImagesBank of America has asked junior bankers to disclose job offers for 18 months after starting as large investment banks look to crack down on private equity poaching.The Wall Street bank has joined rivals by asking its analysts to disclose if they have a job offer elsewhere, telling them that they will be reassigned to another busi...
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