Dominic's Feed
Oct 22, 2015
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Big banks win by a whisker in UK competition probe

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The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Big banks 1, good sense nil. The British investigation into banking competition that concluded on Oct. 22 after 18 months has let large lenders off the hook, and done little for their smaller rivals. The UK’s Competition and Markets Authority decided against breaking up the country’s four dominant players – Barclays, HSBC, Lloyds Banking Group and Royal Bank of Scotland. Nor did the watchdog have the pluck to ban “free” current accounts, which would have boosted transparency.

Oct 21, 2015
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Credit Suisse will struggle to shed subpar UBS tag

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The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

Credit Suisse looks like a cut-price UBS. Can it do better? The fresh strategy from new chief Tidjane Thiam goes some way towards closing the Swiss bank’s valuation gap with its cross-town peer. Credit Suisse will raise 6.05 billion Swiss francs ($6.3 billion) in equity and become a wealth manager first and foremost. What’s needed next to shake off the invidious comparison is growth.

Oct 21, 2015
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Credit Suisse will struggle to shed subpar UBS tag

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The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

Credit Suisse looks like a cut-price UBS. Can it do better? The fresh strategy from new chief Tidjane Thiam goes some way towards closing the Swiss bank’s valuation gap with its cross-town peer. Credit Suisse will raise 6.05 billion Swiss francs ($6.3 billion) in equity and become a wealth manager first and foremost. What’s needed next to shake off the invidious comparison is growth.

Oct 20, 2015
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Deutsche’s fat finger points in helpful direction

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The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

A fat finger at Deutsche Bank points to more change. Germany’s largest lender erroneously paid $6 billion to a U.S. hedge fund client in June, a person familiar with the situation told Breakingviews. It’s embarrassing but financially painless, since the money accidentally transferred by a junior trader was paid back the following day, according to the Financial Times. It strengthens the case for co-Chief Executive John Cryan to pursue much-needed surgery.

Oct 19, 2015
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Barclays, Credit Suisse, Deutsche: which to back?

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The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Which of Europe’s three largest investment banks – Barclays, Deutsche Bank and Credit Suisse – presents the best case for change? All three have new leaders bent on strategic tinkering. But Credit Suisse has the edge.

Oct 19, 2015
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Deutsche Bank’s shake-up puts stick before carrot

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The author is a Reuters Breakingviews columnist.  The opinions expressed are his own.

Deutsche Bank’s turbo-charged restructuring under new co-chief executive John Cryan has put the stick before the carrot. The latest step in the plan, unveiled on Oct. 18, will split each of the German lender’s securities and asset-gathering businesses in two. And four senior managers are to leave.

Oct 8, 2015
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Deutsche Bank’s kitchen sink augurs new plumbing

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The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Deutsche Bank’s shocking, pre-announced third-quarter loss may presage radical change. Germany’s biggest lender said on Wednesday that it would take a chunky 6.2 billion euro, or $7 billion, net loss in the three months to September on writedowns of past acquisitions. In particular, the revaluation of the 16-year-old Bankers Trust deal suggests new boss John Cryan may have another big surprise in store.

Oct 8, 2015
via Breakingviews

Deutsche Bank’s kitchen sink augurs new plumbing

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The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Deutsche Bank’s shocking, pre-announced third-quarter loss may presage radical change. Germany’s biggest lender said on Wednesday that it would take a chunky 6.2 billion euro, or $7 billion, net loss in the three months to September on writedowns of past acquisitions. In particular, the revaluation of the 16-year-old Bankers Trust deal suggests new boss John Cryan may have another big surprise in store.

Oct 6, 2015
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EU data ruling could stunt single digital market

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The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

A ruling by Europe’s top court on data transfers could stunt the growth of one of the European Commission’s key objectives: the digital single market. The European Court of Justice ruled on Oct. 6 that the so-called “safe harbour” agreement, which allows U.S. and euro zone-based tech companies to repatriate each other’s customer information, was invalid. For an industry that thrives on the free movement of data, it’s a significant setback.

Oct 6, 2015
via Breakingviews

EU data ruling could stunt single digital market

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The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

A ruling by Europe’s top court on data transfers could stunt the growth of one of the European Commission’s key objectives: the digital single market. The European Court of Justice ruled on Oct. 6 that the so-called “safe harbour” agreement, which allows U.S. and euro zone-based tech companies to repatriate each other’s customer information, was invalid. For an industry that thrives on the free movement of data, it’s a significant setback.

    • About Dominic

      "Dominic is a London-based columnist covering investment banking. Prior to Breakingviews, he spent two years at moneydealer ICAP, where he brokered equity derivatives trades between investment banks, high-frequency trading firms and hedge funds. He has more than five years of financial journalism experience, including stints as news editor and investment banking editor at Financial News. He has also written for The Wall Street Journal Europe. Dominic holds an MA in Classics from Oxford University and an MSc in Development Management from the London School of Economics. Follow Dominic on Twitter @DominicElliott"
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