Page 6 - Investment Banks
Centre softens stance on i-banks for PSU mandate
To ensure success of its 2017-18 disinvestment target, the government is taking an easier approach towards investment banks participating in public sector undertaking (PSU) share sales. The department of public asset management (Dipam), the government body in charge of divestment, has allowed investment banks with PSU mandates to take up certain types of capital market offerings by rival companies in the private sector. The move comes after some lenders, including Deutsche Bank, raised concerns over the 'conflict of interest' clause applicable for the share sale mandate in seven PSUs, including Indian Oil and NTPC. Recently, the government floated a Request for Proposal, inviting i-bankers to manage share sales in these seven entities, in the power, finance, energy and metal segments. Sectoral players say the bankers were keen on applying for the mandate but wanted clarity. Allaying their concerns, the government took a more lenient approach. It allowed i-banks to work on private ...
 "Centre softens stance on i-banks for PSU mandate")
Global investment banks beef up transaction business in Asia
These banks account for just 15 per cent of the market for cash management in the region
 "Global investment banks beef up transaction business in Asia")
iBanks caught in cleft over exchanges' IPOs
Conflict of interest might prevent NSE and BSE from selecting iBanks appointed by the other
 "iBanks caught in cleft over exchanges' IPOs")
World's top 12 investment banks see 25% fall in revenue in Q1: Survey
The year-on-year decline comes on the back of economic uncertainty and investor caution leading to the slowest start since the financial crisis
 "World's top 12 investment banks see 25% fall in revenue in Q1: Survey")