Dominic's Feed
Mar 18, 2014
via Breakingviews

A credible strategy for Barclays’ investment bank

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By Dominic Elliott
The author is a Reuters Breakingviews columnist. The opinion expressed is his own.

Barclays’ Transform plan needs urgent transformation. Chief Executive Antony Jenkins’ year-old strategy to revamp the UK lender is already struggling. First, the Bank of England jacked up gross equity-to-assets requirements last summer, necessitating a scrambled 5.8 billion pound rights issue and a one-year delay to the bank’s 12 percent return-on-equity target. Then Jenkins reneged on an assumed policy of reining in pay – and justified it with a decidedly pre-crunch declaration of needing to pay up to retain talent.

Mar 18, 2014
via Breakingviews

A credible strategy for Barclays’ investment bank

Photo

By Dominic Elliott
The author is a Reuters Breakingviews columnist. The opinion expressed is his own.

Barclays’ Transform plan needs urgent transformation. Chief Executive Antony Jenkins’ year-old strategy to revamp the UK lender is already struggling. First, the Bank of England jacked up gross equity-to-assets requirements last summer, necessitating a scrambled 5.8 billion pound rights issue and a one-year delay to the bank’s 12 percent return-on-equity target. Then Jenkins reneged on an assumed policy of reining in pay – and justified it with a decidedly pre-crunch declaration of needing to pay up to retain talent.

Feb 26, 2014
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Rudloff’s retirement is bad timing for Barclays

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

Hans-Joerg Rudloff’s retirement at 73 comes at an unhelpful time for Barclays. The UK lender’s chairman of investment banking is stepping down after a distinguished career that spanned five decades – long enough for any banker. Rudloff’s achievements are myriad. A doyen of the eurobond market, which he helped create in the 1960s, 70s and 80s, Rudloff also saw the potential in Russia and central Europe in the 1990s, long before emerging markets became fashionable.

Feb 26, 2014
via Breakingviews

Rudloff’s retirement is bad timing for Barclays

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

Hans-Joerg Rudloff’s retirement at 73 comes at an unhelpful time for Barclays. The UK lender’s chairman of investment banking is stepping down after a distinguished career that spanned five decades – long enough for any banker. Rudloff’s achievements are myriad. A doyen of the eurobond market, which he helped create in the 1960s, 70s and 80s, Rudloff also saw the potential in Russia and central Europe in the 1990s, long before emerging markets became fashionable.

Feb 19, 2014
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Candy Crush destined to be a heartbreaker

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

Candy Crush is destined to be a heartbreaker. The addictive mobile app’s Europe-based maker, King Digital Entertainment, is ready to capitalize on the hype with an initial public offering in the United States. With top hit “Candy Crush Saga” generating about 80 percent of revenue, though, investor infatuation would be a dangerous game.

Feb 19, 2014
via Breakingviews

Candy Crush destined to be a heartbreaker

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

Candy Crush is destined to be a heartbreaker. The addictive mobile app’s Europe-based maker, King Digital Entertainment, is ready to capitalize on the hype with an initial public offering in the United States. With top hit “Candy Crush Saga” generating about 80 percent of revenue, though, investor infatuation would be a dangerous game.

Feb 19, 2014
via Breakingviews

U.S. rules show limits of global bank resolution

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By Dominic Elliott

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

Daniel Tarullo has delivered a hard lesson about the limits of global banking supervision. The Federal Reserve on Feb. 18 confirmed that European lenders will need separate capital for their American operations, which could hike their funding costs and limit their ability to compete. Banking will become less global as a result.

Feb 19, 2014
via Breakingviews

U.S. rules show limits of global bank resolution

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By Dominic Elliott

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

Daniel Tarullo has delivered a hard lesson about the limits of global banking supervision. The Federal Reserve on Feb. 18 confirmed that European lenders will need separate capital for their American operations, which could hike their funding costs and limit their ability to compete. Banking will become less global as a result.

Feb 13, 2014
via Breakingviews

Commerzbank could yet boost BNP’s bland strategy

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By Dominic Elliott

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

Commerzbank could yet jazz up BNP Paribas’ bland strategy. France’s biggest bank by assets unveiled underwhelming targets on Feb. 13: a 10 percent return on equity by 2016, a scarcely bigger dividend payout and another 800 million euros of cost cuts. A 4.5 percent drop in BNP’s share price suggests investors want something meatier.

Feb 3, 2014
via Breakingviews

Lloyds still looks best of a bad bunch of UK banks

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By Dominic Elliott

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

Lloyds Banking Group’s past is delaying its promise of a sunnier future. The lender brought forward its annual results on Feb. 3, including the shock revelation of another 1.8 billion pounds of legal reserves to cover the mis-selling of payment protection insurance (PPI). The past weighs heavily on Lloyds, but its premium to peers still looks intact.

    • 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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