Ahead of Sibos, Commerzbank has published its newsletter for financial institutions, FI.News. Centred around the theme delivering excellence in a changing banking environment, the biannual newsletter features in-depth articles by and interviews with some of Commerzbank’s leading financial experts.
The new edition features updates on Commerzbank’s latest initiatives for: trade and supply chain finance; securities services; cybersecurity; as well as assessments of the trade landscape across Africa, Asia and central Europe.
Moorgate has produced FI.News since 2013. To read the latest edition, please click here.
In an interview with Law360, Anthony Whitehouse – Natixis’ UK Head of Compliance – discusses the evolution of the compliance function over the past decade, stating that these days, compliance is all about advising senior management on how to improve culture and the organisational structure of their business.
Other topics of discussion included how the bank handles discrepancies in regulations across jurisdictions, how the compliance department interacts with the risk division and how the bank is dealing with the uncertainty around Brexit.
To read the full interview, please click here (paywall).
As the green finance market continues to expand, new sectors such as telecommunications have started to issue green bonds and capitalise on investor demand for sustainable financial instruments, according to a recent report by S&P Global Ratings.
Labeled green bond offerings to date include three significant issuances by telecom giants Telefonica, Verizon, and Vodafone. But some investors have expressed concern that green bonds issued by telecom companies fund projects that could be described as “business as usual” and that lack environmental “additionality”.
In the report, S&P attempts to gauge the environmental contribution of the bonds issued in the sector thus far, issuing these bonds a score based on public information using its Green Evaluation analytical approach.
Following outreach by Moorgate, news of the report was covered by the following specialist press: Mobile Europe, Environmental Finance and Environmental Leader.
The sustainable finance space, comprised of the green and sustainability-linked loan markets, is booming. Although the green loan market still dominates, sustainability-linked loans (SLLs) – which tie the pricing of a loan to an entity’s performance on environmental, social, and governance (ESG) criteria – are quickly catching up. Indeed, the SLL market grew nearly sevenfold to US$36.4 billion in 2018.
In a recent report, S&P Global Ratings considers the proliferation of the SLL market and the growing trend of linking ESG performance to loan margins to explicitly align pricing with achieving sustainability performance targets (SPTs), as well as the obstacles facing the SLL market; namely, transparency and disclosure.
Following outreach by Moorgate, the report was covered by Climate Change News, Banking Dive, Euractiv, and Sustainable Business News.
ExWorks Capital invited guests to celebrate the relocation of its London office to The Wells Fargo Building, 33 King William Street, London. The event took place on the building’s stunning roof terrace, where over 100 attendees, including journalists from TXF, TRF and Bridging and Commercial, were able to network against a spectacular backdrop.
The move to the new location is designed to help facilitate the continued growth of ExWorks and cater to the needs of its expanding client base.
Natixis has appointed Arié Boleslawski as Global Head of Equities within their Corporate and Investment Banking division. With more than 20 years’ experience in the banking industry, Arié joined the bank in August, and reports to Selim Mehrez – Global Head of Equity Derivatives & Fixed Income.
In his new role, Arié is in charge of Equity Derivatives Trading and will co-supervise Global Secured Funding along with Mehrez, while helping to meet the bank’s global ambitions to expand equity derivatives and structured products related activities.
The news was covered by GlobalCapital (paywall), Risk.net (paywall), IFR, SRP (paywall), Risk.net
Speaking to The Banker, Orith Azoulay – Natixis’ Global Head of Corporate and Investment Banking (CIB) Green and Sustainable Finance – notes that access to green projects in emerging markets happens through banks, which have a crucial role to play in emerging market green bonds.
However, “the mass of green bond investors remains Western, it is very European. The investor who really wants to go green does not really invest in emerging markets”, explains Azoulay.
To read the full article, please click here.
Speaking to Global Capital, Eric Arnould – Natixis’ Global Head of Equity Capital Markets – comments on the revival of French IPOs, exemplified by the forthcoming transactions from Française de Jeux (FDJ) and glass packaging company Verallia.
Arnould notes that ‘for the first time in years, France is expected to lead the pack in terms of IPOs’, as French equities are seen by investors as a safer bet than other European jurisdictions, which are hamstrung by political instability.
To read the full article, please click here.
Chris Southworth – Secretary General of the International Chamber of Commerce – contributes the Foreword for Trade Finance Global and East & Partners’ Whitepaper: State of the Global Supply Chain Finance Market, UK and China trade corridors.
Chris notes that we are at a critical moment in the history of trade, and this whitepaper contributes towards a new and positive potential chapter, as we transition towards a more inclusive system that works for everyone.
To read the full whitepaper, please click here.
Writing for The Asset, Commerzbank’s Agnes Vargas and Hans Krohn assess the opportunities that the Belt and Road Initiative (BRI) may bring for Europe’s small- and medium-sized enterprises, and how they can engage with the project.
While the “first phase” of the BRI – the construction of large-scale infrastructure – largely excludes SMEs across Central Europe, it is the “second phase” – financing and trade opportunities along these revived trading corridors – for which international financial institutions should be preparing.
Given the enormity and volume of the infrastructure projects defining the first phase, it is likely to be some years until these projects will link to enable the second phase’s transcontinental trade flow. So for the time being, European SMEs should treat the BRI as a lesson in patience. In the meantime, advise Vargas and Krohn, financial institutions should take advantage of the time they have to prepare.
To read the full article, please click here (requires subscription).