Citigroup to combine debt and equities units

Fri, 16 May 2008 06:59:54 -0400

Financial News Online reports that Citigroup has plans to combine its equity and debt capital markets origination divisions into a single unit. The move follows like-minded moves by JPMorgan Chase and UBS. The point is to unlock efficiencies that might result from integrated product offerings, and to provide customers a single point of contact. Companies have increasingly diverse capital markets needs, and an integrated sell that links debts, stocks and derivatives makes a lot of sense on paper. Of course, the key here is execution, stitching together a cohesive logical pitch to customers. Some might see this as an interesting test of how well Citigroup can adapt in this new era.

For more:
- here's the Financial News Online article

Goldman Sachs bids to regain crown in ECM

Mon, 10 Mar 2008 07:59:57 -0400

Mighty Goldman Sachs had a tremendous 2007, a year that people still are talking about, almost wistfully. It was common to suggest that if the bank had a weakness, it was in hedge funds. But Financial News Online notes that the bank also lost its luster in the equity capital market arena. It fell from the top spot to fourth globally, and from the top spot in the U.S. to second nationally. It has announced a shakeup to put itself back on top, but my sense is that it could be tough year for ECM business units. I do not think that offerings will offer a lot of growth over last year. Other products will have to pick up the slack. But I'm not sure which ones offer much promise in 2008.

For more:
- here's the Financial News Online article

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Equity Capital

Citigroup to combine debt and equities units

Goldman Sachs bids to regain crown in ECM