Dominic is a London-based columnist covering investment banking. Prior to Breakingviews, he spent two years at moneydealer ICAP, where he brokered equity derivatives trades between investment banks, high-frequency trading firms and hedge funds. He has more than five years of financial journalism experience, including stints as news editor and investment banking editor at Financial News. He has also written for The Wall Street Journal Europe. Dominic holds an MA in Classics from Oxford University and an MSc in Development Management from the London School of Economics. Follow Dominic on Twitter @DominicElliott
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The Bank of England has introduced a new capital requirement for lenders deemed systemically risky in a domestic context. Big banks basically have enough equity to meet it already. But Royal Bank of Scotland’s weighting to the UK means it has most to gain from getting smaller.
Germany’s biggest bank has no role on potentially the country’s largest deal - the $62 bln offer by Bayer for agrochemicals peer Monsanto. Deutsche’s share of global and domestic dealmaking is down. It sorely needs BASF, its own advisory gig, to hatch a successful counterbid.
The country may elect Europe’s first fiercely anti-immigration president. Though the role is largely ceremonial, such an outcome would be a triumph for a party with an ugly past. To halt its rise, Vienna needs to fix fears over asylum seekers and flawed welfare and tax policies.
- Deutsche's latest mess looks like a Protium moment
- Heta bail-in mess nears suitably ugly endgame
- Limp UK banks probe cedes antitrust fix to fintech
- Blockchain teamwork could help banks fight hackers
- Bankers and lawyers hold key to fighting graft
- Raiffeisen's untangling gets off to a bad start
- Credit Suisse investment bank decline will persist