North America

CPPIB Capital

In 2016, JP Morgan launched a service to help its corporate clients fill board positions with directors well versed in corporate governance. Now, as board composition comes under ever greater scrutiny, the bank is expanding the offering into EMEA.

Moelis & Company has hired senior equity syndicate banker Melissa Mariaschin from Barclays in New York as the boutique investment bank expands its capital markets capabilities.

Barclays has elevated Jean Francois (JF) Astier and John Miller to co-heads of investment banking as part of a raft of promotions in New York that also include the appointments of Kristin Roth DeClark and Taylor Wright as global co-heads of capital markets.

Mexican state-owned utility Comisión Federal de Electricidad (CFE) sold $850m of 12 year bonds on Tuesday on its second visit to international markets this year.

Robinhood’s mission to democratise stock markets is taking its inevitable next step with its own initial public offering, of which it says it will sell between 20% to 35% to retail investors. But while opening up the IPO investor base beyond the institutional investor clique sounds good in theory, such transactions remain extremely risky for retail investors.

CPPIB Capital, the issuing entity for Canada Pension Plan Investment Board, launched its first ever syndicated bond linked to the secured overnight financing rate on Tuesday, impressing onlookers with its size.

UBS opened the European bank earnings season on Tuesday with a strong set of results from its M&A and capital markets businesses, which CEO Ralph Hamers seized as an opportunity to play up the importance of talented bankers over the generous application of balance sheet.

Michelle Neal has left her position as head of US fixed income, currencies and commodities trading at RBC Capital Markets in New York to take a leading role at high tech corporate bond trading platform LedgerEdge.

A pair of SSA borrowers are set to squeeze a pair of benchmarks in on Tuesday just before the summer holidays period commences in earnest.

Santander intends to enhance its fixed income offering in the US by buying Amherst Pierpont Securities, a broker-dealer based in New York, for $600m.

Large US banks are expected to turn their attention to the euro market next week, having raised $21.75bn of debt in their home currency after reporting their latest results.