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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Regulators are to unbundle charges for financial analysis and trading in Europe. Greater transparency is welcome. But buyside and sellside alike will be cheered that asset managers can still charge research to clients. Determining value for money may be tricky for end-investors.
The German bank is set to review its direction in 2015. Its bet on capital markets remains unproven. Likely regulatory settlements in the coming months could raise further doubts. Recent executive moves suggest Deutsche is keeping options open for strategy and leadership change.
Last year’s much criticised privatisation of the UK postal company did not go so badly after all, a report has found. But it still offers lessons for improving the process of IPO price discovery. Technology can help, as would bookrunners relaxing their grip on information flow.
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