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Credit Suisse AG has hired Goldman Sachs Group Inc leveraged finance banker Matt DeFusco as a managing director. DeFusco will report to head of U.S. loan capital markets Jonathan Moneypenny and head of U.S. high yield capital markets Marc Warm and start later this year, according to an internal memo from the Swiss bank on Tuesday.
Matthew Masso has been tapped by Credit Suisse to head the commercial real estate finance group, replacing former chief Mark Brown, a person familiar with the matter told IFR. Credit Suisse ranked third in terms of CMBS originations last year with US$13bn of deals, according to IFR league tables.
Despite recent changes at banks such as faster promotions intended to retain employees, many firms are still in danger of losing top talent, according to a new report. The study, released on Wednesday night by consulting firm Quinlan & Associates, said some banks are incurring up to $1 billion in costs annually associated with replacing employees who leave voluntarily. "Only when there is a fundamental re-engineering of a bank's DNA to deliver a more holistic career proposition will they see a meaningful, lasting change in perceptions towards the industry as an employment choice," the report said.
By Kristen Haunss and Olivia Oran NEW YORK, Jan 18 - Credit Suisse has hired Michael Eilert as head of US par loan trading, according to an internal memo from the bank. Eilert, the head of US par loan ...
The U.S. Supreme Court on Tuesday allowed private antitrust lawsuits brought by investors including big U.S. cities accusing major banks of conspiring to manipulate the pivotal Libor benchmark interest rate to move forward. The justices rejected an appeal filed by a group of banks including Bank of America Corp, Deutsche Bank AG, UBS AG and JPMorgan Chase & Co of a May 2016 ruling by the New York-based 2nd U.S. Circuit Court of Appeals that allowed various lawsuits against them to proceed. The appeals court reversed a lower court judge's dismissal of investors' antitrust claims against the banks.
The US dollar market proved more than a match for US$18.05bn of European banks' loss-absorbing debt supply this week, giving a glimpse of the year ahead as banks flock to the deepest bond market to meet new regulatory requirements. BNP Paribas, Credit Agricole and Societe Generale printed US$5.3bn in the first US dollar senior non-preferred transactions, while Barclays, Lloyds, Santander UK and Credit Suisse raised US$12.75bn in holding company debt.
Credit Suisse AG said it has blocked an attempt by Jefferies Group LLC to lure a number of its senior bankers. Of the eight bankers that had agreed to take on new roles at Jefferies, five are remaining at the Swiss bank, according to Credit Suisse spokeswoman Nicole Sharp. This includes Jonathan Moneypenny, who had agreed to join Jefferies to co-head its global leveraged finance capital markets business, Reuters reported on Tuesday.
Jefferies Group LLC has hired four senior Credit Suisse AG loan team members, according to people familiar with the matter, reflecting anticipation for new trading opportunities around leveraged finance. The hires come after Jefferies, a unit of Leucadia National Corp, quadrupled its profit during the fourth quarter. The hires include Credit Suisse veteran Jonathan Moneypenny, who will co-head global leveraged finance capital markets alongside Brian Wolfe.
Britain avoided a collapse in mergers and acquisitions activity after the shock Brexit vote as foreign companies used sterling's spectacular devaluation against the U.S. dollar to snap up British companies, Thomson Reuters data shows. British M&A totalled $177.5 billion in 2016, down sharply from the record $394.8 billion reached in 2015 - a year when the UK data was skewed by two of three biggest global deals - but was in line with the longer 5-year trend.
The U.S. Securities and Exchange Commission (SEC) is investigating the sale of $850 million in bonds issued by Mozambique by Credit Suisse, Russia's VTB Group and BNP Paribas, the Wall Street Journal reported on Wednesday. The southern African nation said in October its debt was unsustainable and the International Monetary Fund suspended assistance to Mozambique when evidence of $2 billion in secret loans emerged.
Deutsche Bank's riskiest bonds jumped on Friday after the lender said it would pay US$7.2bn in a settlement related to pre-crisis sales of mortgage-backed securities that is around half the size feared. The German bank's Additional Tier 1 bonds, the riskiest form of debt that banks can sell, have been under periodic bouts of pressure since mid-September, when the US Department of Justice said it would be asking for as much as US$14bn. Deutsche's 6% 1.75bn AT1 bonds callable in 2022 jumped from 82 cash price to 86 on Friday morning, according to Tradeweb.
Investment bank Credit Suisse AG has hired internet equities analyst Robert Peck to run its global internet banking business, according to a memo reviewed by Reuters. Peck was previously an analyst at investment bank SunTrust Banks Inc, where he led global internet research since 2013. Peck has been covering the internet and digital media sector for more than a decade, covering stocks including Amazon.com Inc , Facebook Inc and Google Inc.
It's usually not big news when an exchange-traded product is shut down. Dozens of ETPs are routinely shuttered each year due to lack of interest from investors. In those cases, it makes total sense for an issuer to close a product that's not popular and likely not profitable.
NEW YORK, Nov. 21, 2016 /PRNewswire/ -- On November 16, 2016, Credit Suisse declared a Coupon Payment for the Credit Suisse X-Links Cushing ® MLP Infrastructure ETN ("the ETN"). ETN Ticker ...
Credit Suisse has announced that it will delist and then suspend its pair of leveraged/inverse crude oil ETNs. The Velocity Shares 3x Inverse Crude Oil ETN (DWTI) and the VelocityShares 3x Long Crude Oil ETN (UWTI) are expected to see their last day of trading on Dec. 8, with further issuances suspended as of Dec. 9. However, this does not necessarily represent a “closure” of the ETNs.
NEW YORK, Nov. 8, 2016 /PRNewswire/ -- Credit Suisse AG announced today its intention to delist and repurchase the following Exchange Traded Notes (the "ETNs") in whole pursuant to their terms: ...