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BPCE is drawing Natixis closer at a pivotal time for the investment bank and European banking consolidation, writes David Rothnie.

Société Générale and Natixis both endured a difficult 2020 in their markets business, but in the fourth quarter their equities divisions managed to pull off a brighter performance.

BPCE is planning to buy the stake in Natixis it does not already own, and is also examining splitting it up, placing its corporate and investment banking activities and asset and wealth management branch into a new structure.

Axa Investment Managers' Yo Takatsuki has joined JP Morgan Asset Management as head of investment stewardship for Europe, the Middle East and Africa.

Under its new "Strategy 2024" plan, Commerzbank is considering outsourcing equities services to a partner as several rivals have done. It also wants to focus its equity capital markets and M&A franchises more squarely on existing clients.

Philippe Henry, head of HSBC's global banking franchise for Europe, the Middle East and Africa, is leaving the bank.

Goldman Sachs is trying to steal a march on rivals as it looks to turbo-charge its European business by leading the listings of the region’s most vibrant start-ups, writes David Rothnie.

Deutsche Bank was able to present a successful year for its investment bank when it announced fourth quarter and full year results on Thursday, coming 18 months after the restructuring of the business. The question now is whether it will be able to hold onto its increased profitability when times are less lucrative for investment banks.

Nomura said that net revenues in its investment banking business for the last three months of 2020 were the highest in nine years. Yet while it was a good quarter overall for the firm's wholesale business, revenue fell year on year in Europe, the Middle East and Africa.

Danske Bank’s new large corporates and institutions business, headed by Berit Behring, took effect on Monday, with three global client-facing divisions. Loans — grouped with primary and secondary equities and the advisory business — is in a different division from bonds.

In a rare sign that environmental campaigners are having an impact on the financial industry, the burden of financing the Ecuadorian Amazon oil trade has shifted between banks in the past six months. But it is clear the banking industry is supporting the trade in more ways than have yet been uncovered.

Banks and other financial services firms continue to adapt to Brexit, with more than 400 firms estimated to have moved some part of their business to the EU.