LatAm Loans

HSBC has merged its capital markets businesses into one single division, called global capital financing, and promoted Kevin Adeson, global head of leveraged and acquisition finance and global co-head of principal investments, to run it.

Société Générale is forging ahead with its plans to build a global advisory business, undeterred by some fairly daunting competition. Last week, the focus was on France with its capture of JPMorgan’s Thierry d’Argent but the bank is now scouring Europe for 20 coverage bankers and 15 M&A specialists to beef up what it acknowledges to be a weakness in advisory.

Such is the contrast between Europe’s fired-up corporate bond market and its damp squib cousin the loan market that some senior capital markets officials are predicting a permanent shift in funding patterns. But that is unlikely. The loan market, while not out of the mire, will remain an essential source of funding for corporate borrowers.