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The ratings review finished with both upgrades and downgrades linked to senior bonds now being subordinated to regular deposits
Stefan Jost will take over the role
New role includes digital assets
Sugrue specialised in covering the insurance and reinsurance sectors
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Federal Reserve economists have warned of ‘financial stability’ concerns around the US treatment of foreign banks, after publishing research suggesting that some institutions were hiding assets in branches to escape closer regulatory oversight. -
Crédit Agricole has promoted four staffers to fill vacant and newly created positions in its debt capital markets leadership team, including global head of financial institutions DCM and head of European corporate DCM.
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UBS has revamped its management of sustainability and appointed Michael Baldinger as chief sustainability officer. Last month it named Suni Harford, president of UBS Asset Management, as group executive board sponsor for sustainability and impact.
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The European Central Bank’s top supervisor has hit out against plans to implement the Basel III output floor using a “parallel stack” of risk-weighted assets, warning EU lawmakers of the reputational risks of diverging from international agreements.
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NatWest Group recorded a loss at its investment bank on Thursday, after climbing down from the dizzying heights of last year’s first quarter profits. The weaker numbers weighed on the performance of the group, but the bank still managed to breeze past market expectations.
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Market participants will embark in the coming weeks on the difficult task of working out how to use the European Union’s sustainable finance Taxonomy, after the first criteria were published this week. In doing so, they will be conscious that the smooth tide of green finance is now breaking against the hard reality of power politics and resistance by fossil fuel industries — a clash that is rocking the Taxonomy’s credibility, writes Jon Hay.
