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
- Tel: +44 (0)20 7542 1923
- E-mail: email@example.com
The UK bank has placed $878 mln of shares in its Africa arm at a tight discount of 6.5 pct, with South Africa’s state pension fund taking a tenth. Central bank opposition to private equity won’t stop a tilt by its former boss for the rest. Barclays can sell that in 90 days’ time.
France’s third bank by assets added more capital than BNP Paribas, with better returns. It also trounced fixed income trading rivals with a 17 pct revenue increase. SocGen’s decision to cut 220 mln euros more costs could provide cover against future rises in bad debts.
The Swiss bank is rejigging its wealth unit after trading income as a percentage of invested funds dipped to historic lows. Group return on equity was just 5.1 pct in the first quarter. UBS depends on rich folks being active. When they aren’t, the only option is to trim expenses.
- RBS sale delays hit credibility more than finances
- Deutsche Bank upgrades from dire to depressing
- Barclays inches forward as rivals inch back
- Technogym IPO is fittest without luxury tag
- Ericsson's Nokia-Alcatel fear rings in new changes
- European tech stocks send conflicting signals
- Finance wakes up to fintech's systemic dangers