People
&Markets
Sebastien Domanico
has been appointed
head of global markets
for EMEA at CREDIT
AGRICOLE, sources
said. He will report to
Pierre Gay, who heads
the global markets
division. Domanico is
part of the global
markets executive
committee and will
continue to lead theglobal credit unit until
his replacement is
appointed. Domanico
joined Credit Agricole
from Societe Generale
in 2016 as head of
debt capital markets.INSTINET, the electronic
trading platform owned
by Nomura, has hired
David Fellah as head of
international quantitative
trading strategy. Fellah
will be responsible for
leading quantitative
trading strategy
research and execution
consultancy across
Europe and Asia in the
newly created role in itsglobal trading research
arm. Fellah will be based
in London and join from
ITG, where he was head
of trading analytics since
April 2018. Before that
Fellah spent eight years
at JP Morgan, including
responsibility for
research and
development of
algorithmic trading
products.Please contact us if you have information about job moves: [email protected]
StanChart on track with profit rise
STANDARD CHARTERED is on track to lift returns to
ABOVEûûINûTHEûMEDIUMûTERMûAFTERûPOSTINGûAû
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shrugging off concerns about the impact of
ESCALATINGû53
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lender is on the right path towards meeting
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INûANNUALûCOSTS ûEXITûSMALLERûBUSINESSESûANDû
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came on top of the major restructuring he
HASûENGINEEREDûSINCEûTAKINGûOVERûINû û
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overhauling lending standards and writing
down billions of dollars worth of bad loans.
/VERûAûTHREE
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targeted a return on tangible equity of above
ûBYûû4HEûBANKSû2O4%ûWASûûINûTHEû
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“Overall, we’re feeling good about the
progress that we’ve made,” Winters told
reporters on a conference call. “We’ve been
able to navigate the choppy waters so far
ANDûWEûFEELûCONlDENTûTHATûWEûCANûCONTINUEû
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escalating trade friction between the US and
China triggering concerns among analysts
ABOUTûTHEûIMPACTûONû!SIA
FOCUSEDûBANKSûSUCHûASû
StanChart. Winters said there could be adverse
EFFECTS ûBUTûSAIDûTHEûBANKûSHOULDûBENElTûFROMû
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#HINAû
trade tensions in particular.
He said income from corporate and
institutional clients using the bank’s international
NETWORKûWASûUPûûYEAR
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RELATEDûINCOMEûWASû
ABOUTû ûSOûINCREASINGûTHATûPORTIONûOFûTHEû
business remained key to the bank hitting its
TARGETûOFûATûLEASTûAûûGROUPû2O4%
Winters also said the bank was making
progress on the four markets it singled out
for improvement in its February strategy
update – India, South Korea, Indonesia and
THEû5NITEDû!RABû%MIRATESûnûWHICHûWOULDûBEû
key in driving returns.
“If we get these four markets up to par
WITHûTHEûRESTûOFûTHEûBANK ûTHERESûANûEXTRAû
BPûOFûRETURNûONûTANGIBLEûEQUITYûFORûTHEû
group as a whole and we are very much on
track to achieve that,” he said.
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ûTOû53BNûASûAûSTRONGûPERFORMANCEûINû
lNANCIALûMARKETSûANDûCASHûMANAGEMENTû
offset a more disappointing showing in trade
lNANCEûANDûCORPORATEûlNANCE ûBOTHûOFûWHICHû
were hurt by margin compression.
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EXCHANGE ûRATES ûCREDITûANDûCAPITALû
structuring and distribution – a new entity
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side distribution and structuring teams
WITHINûlNANCIALûMARKETSûnûALLûREPORTINGû
higher income and only commodities down.
Thomas Blottin credit and emerging markets than other
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BNP PARIBASûDIDûBETTERûTHANûBOTH ûWITHûAûû
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compatriots, it said this was due to better
than anticipated FX trading.
In a tough equities market for most
BANKS û3'ûREPORTEDûAûûFALLûINûREVENUESûTOû
õMû".00SûEQUITIESûFELLûûTOûõM
SG said its investment banking activities in
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its corporate and institutional bank to
€3.1bn. Corporate banking was a highlight,
WITHûREVENUESûUPûûTOûõBN
4HEûBANKûHASûBEENûCARRYINGûOUTûAûREVIEWû
of CIB as part of a wider effort to cut annual
COSTSûBYûõMûh7EûAREûNOTûFOCUSEDûONû
making major changes but will make
adjustments where necessary,” said chief
OPERATINGûOFlCERû0HILIPPEû"ORDENAVE
Christopher Spink
global head of capital solutions and sustainable
lNANCING ûTOû#&/ûOFûTHEûCORPORATEûBANK
4HEûREGIONALûLEADERSûOFûINVESTMENTûBANKINGû
coverage are: Adam Bagshaw FORû%-%! ûAnthony
Miller FORû!0!#, WHILEû$!#(û'ERMANY û!USTRIAû
ANDû3WITZERLAND ûISûJOINTLY
LEDûBYûPatrick Frowein
and Berthold Fuerst.
Global mergers and acquisitions is run by
Celeste Guth – based in New York.
-!ûUNITSûFORû!MERICAS û%-%!ûANDû!0!#û
are headed by Bruce Evans, Robin Rousseau and
Mayooran Elalingam, respectively.
James McMurdo nûWHOûWASûGLOBALûCO
HEADûOFû
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chairman for investment banking coverage,
FOCUSINGûONûSENIORûEXECUTIVESûFORûGLOBALûCLIENTS
Nick Jansa ûAûSENIORûLEVERAGEDûlNANCEû
BANKERûWHOûHADûCO
HEADEDûCORPORATEû
lNANCEûINû%UROPE ûISûLEAVINGûTHEûBANK
Alex Chambers, Steve Slater