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...He declined to comment “specifically” on Capital One and Discover, but made clear his concerns about the combination of two “large issuers . . . that compete in a number” of credit card sub-markets, calling...
...He will replace former banking and insurance executive David Godfrey on several of Nomura’s European and UK boards in April....
...Some of the biggest private equity and asset management groups — including TPG, BlackRock, T Rowe Price and CVC Capital Partners — have recently acquired credit managers as they look to diversify their assets...
...and have therefore not purchased credits,” it said....
...the ripples from the banking crisis in the US last year and the collapse of Credit Suisse....
...Barings is suing a Nomura-backed venture after most of its top private credit team defected to the new firm, in what the fund manager described as one of the “largest corporate raids at an asset manager...
...Donald Trump is losing support from small donors, US lender Capital One has agreed to buy rival Discover Financial for $35.3bn, and Barclays updated investors on its strategy for the first time in eight...
...Credit Suisse, Deutsche Bank, Goldman Sachs and HSBC reported losses in their China-based units in 2022....
...Capital One and Discover are two of the biggest credit card lenders, behind JPMorgan Chase and Citigroup....
...In a statement on Tuesday, Barings said it “remains open for business and able to invest across our private credit platform” and it would “continue to provide meaningful capital support to our many sponsor...
...The ironic quirk, however, is that this newcomer is backed by Japan’s Nomura, a traditional bank which private credit has been designed to displace....
...But it is department stores, rather than lenders, that may have most to lose as the credit cycle sours. The biggest of these — Macy’s, Nordstrom and Kohl’s — do not own their credit card portfolios....
...Drew Dickson is the founder and chief investment officer of Albert Bridge Capital. He is short Tesla in his personal account....
...He rose to be deputy chief executive officer of ICBC based in Hong Kong, where he was responsible for business development and management of investment banking and capital markets....
...A decoupling environment, however, strains those skills and could actively benefit companies such as Seven & i, Taiheiyo Cement, Sony and Kyocera in which the earnings balance is far heavier in the US, Nomura...
...While new Fed proposals to increase bank capital (dubbed the “Basel endgame”) are being recalibrated, further adjustments to liquidity, capital rules and risk management practices are nonetheless likely....
..., at Nomura....
...While the group has invested $3.5bn in more than 350 Chinese start-ups, it somehow hasn’t come under fire in Washington yet, even while rivals like Sequoia Capital and GGV Capital have faced scrutiny....
...Visa and Mastercard — the country’s two biggest card payment processors — have agreed to lower the fees that merchants pay to accept credit card payments....
...Many banks, she reckons “are unable to uniquely identify and systematically aggregate or measure their combined credit and counterparty risk exposures to the private equity sector”....
...“The World Bank is, we believe, ultimately keen to see the capital market step in and for market-oriented incentive mechanisms to develop.”...
...Capital One’s $35.3bn proposed takeover of Discover Financial Services would fuse two leading credit card lenders and give it control of a network that connects consumers, merchants and banks....
...Swiss banking rules have come into sharp focus since the collapse of Credit Suisse last March and its rescue by UBS....
...“Rising physical climate risks will cause mounting economic and financial losses for governments,” Atsi Sheth, chief credit officer for Moody’s Ratings, told me....
...Those two markets — private credit and BSL — are seen as near competitors, if not substitutes....
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