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...The investors owned additional tier 1 bonds, or AT1s, a form of bank debt that can be converted into equity or written down when a bank runs into trouble....
...The future of AT1s have become a political issue across Europe since the Credit Suisse wipeout....
...UBS agreed to rescue Credit Suisse last March in a deal orchestrated by Switzerland’s finance ministry, financial regulator and central bank....
...Apollo has sold a stake in the lending business it acquired from Credit Suisse last year shortly before the Swiss bank’s shotgun rescue by UBS, securing a multibillion-dollar investment from one of the US...
...In February, Barclays said it had cut its annual bonus pool by 3 per cent after a tough year for its investment bank in 2023, while the bank has also embarked on a programme of job cuts, particularly in...
...Revenue also fell slightly to £7bn from £7.2bn a year earlier, the bank said on Thursday, but outpaced expectations....
...Next week, Barclays boss CS Venkatakrishnan — known as Venkat — must offer a plausible fix for this at the bank’s first strategy overhaul in almost a decade....
...Barclays made a net loss of £111mn, beating analysts’ estimates for a loss of £123mn, but compared with a profit of £1bn in the same period in 2022....
...No one has forgotten the rapid failure of a supposedly well-capitalised bank, the absurd move to prioritise equity over (AT1) debt in default and the incredibly poor communications between Finma, the financial...
...Barclays’ plan to buy back nearly half a Barclays looks part mechanical and part fantastical....
...Switzerland’s decision last year to merge Credit Suisse with UBS was an “unhelpful” way to deal with a failing global bank and US regulators would not shrink from a full shutdown in a similar situation,...
...“It’s very much about the rate differentials,” said Emmanuel Cau, a strategist at Barclays....
...The writer’s books include ‘The bank that lived a little: Barclays in the age of the very free market’ On February 20, Barclays’ chief executive C S Venkatakrishnan will be revealing the outcome of a strategic...
...Less than a year after UBS’s rescue of Credit Suisse, just a handful of Credit Suisse senior managers remain at the enlarged Swiss bank, including former chief executive Ulrich Körner....
...Almost half of the bank’s deposits were uninsured at the end of 2022, according to Barclays, just as the storm over Silicon Valley Bank and other regionals hit....
...The European bank debt market was bolstered by strong demand for a new issuance from Barclays on Wednesday, a week after UBS re-entered the market with the biggest sale of additional tier-one bonds for five...
...UBS has made Sergio Ermotti Europe’s best-paid bank boss less than a year after he returned to the lender, saying the Swiss executive had successfully steered the integration of rival Credit Suisse....
...Barclays will pay CWG an undisclosed sum to be released from its obligations at the 12-storey building also known as 5 North Colonnade, formerly home to Barclays investment bank....
...The Barclays chief, who chaired an event for business leaders at the Conservative party’s annual conference in October, said the government should begin exploring how such a proposed agency could operate...
...As a result, the average return on equity among European banks has risen to 13 per cent, Barclays analysts said....
...But one year on from the failures of Silicon Valley Bank and Credit Suisse, the strongest banks are ramping up their lending into the broadly syndicated bank loan markets — a key way to finance leveraged...
...Rupak Ghose is formerly a financials research analyst at Credit Suisse and head of corporate strategy at ICAP/NEX If Mark Twain was surveying Wall Street investment banks, would he say “Lies, damn lies...
...Can a supposedly simplified, UK-focused structure make a difference? Instead of three broader units, Barclays will now have five....
...For countless failing banks — including Credit Suisse — AT1s did the very job they were meant to do, namely provide an additional buffer to facilitate a smooth resolution....
...Barclays has cut back its bonus pool following a tough year for its investment bank, as the UK lender reported a 15 per cent decline in full-year profits....
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