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* ING Barings has taken a team of 10 investment bankers from Jardine Fleming Securities, Flemings' highly regarded Asian business. Hideaki Kineako joins as head of the investment banking division; he had been director of corporate finance and capital markets at Jardine Fleming since 1994.

Sumitomo Trust has been dropped as a dealer from NEC Capital's $500 million Euro-MTN programme. The programme, signed in 1998, has $172.72 million outstanding off eight trades and is rated Baa1 by Moody's.

Greece The price range for CosmOte, Greece's second mobile operator, has been narrowed to Dr3,120-Dr3,494 from Dr3,070-Dr3,750. The price was reduced by 85% from the top and 15% from the bottom.

* Winter, one of the 10 largest microprocessor and card producers in the world, priced its 31m IPO at the top of the range this week after the deal, which was run by GZ-Bank, was 14 times oversubscribed. The 2.45m shares were sold at Eu12.5 from a Eu11-Eu12.5 range. The freefloat of the company is now 38%. Of the shares issued, 50% were allocated to retail investors. Because of the excessive demand, every ninth applicant received 96 shares. The shares started trading on Monday at Eu13.7 and rose steadily through the week to close yesterday (Thursday) at Eu16.95, up 36% from the issue price.

UK cable company NTL tapped the high yield market for $500m of 10 year paper on Wednesday, opting for the dollar sector rather than euros, in markets that are continuing to deny access to all but the top sub-investment grade telecoms and cable credits. The deal, which was lead managed by Morgan Stanley Dean Witter, was priced at a discount with an 11.875% coupon to yield 12.25%, the wide end of the indicated price range.

Consulting firm Orbis became the first casualty of plummeting investor faith in the forecasts Neuer Markt candidates are making for revenues, as it limped on to the high growth exchange with a Eu40m IPO this week. The shares were sold at the bottom of the Eu14-Eu17 range, opened on Monday at Eu12.5 but continued to fall and reached Eu9.9 yesterday (Thursday) - down 29% from the issue price. Although the offer was twice covered, the shares had to be priced at the bottom of the range due to "some price sensitivity from some serious accounts", said a banker close to the deal. "There is some negative investor sentiment," he said, "because companies in the German market have not been able to meet their planned results." He highlighted update.com, a customer relationship management (CRM) software provider, which announced in August that it had to cut its sales forecast for 2000 by 18% from Eu27.2m to Eu22.4m, because projects were taking longer than expected to complete. update's costs are also rising more slowly than planned, so the income forecast for the year has not changed, and the company still expects to break even in 2002, but the adjustment confirmed investors' fears that many Neuer Markt companies have set their sights too high.

Pfandbriefbank International (PBI) is looking to launch its debut Eu750m five year jumbo lettres de gage publiques issue next week, depending on the market's reaction to the Danish rejection of euro participation and general market conditions. Roadshows ended on Wednesday and Martin Schulte, head of treasury at PBI, said that the issue size could be increased depending on investor demand.