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1 week ago | 
bloomberg.com | Jan-Henrik Förster |Jorge Zuloaga |Leonard Kehnscherper
A TSB bank branch in London, UK. Photographer: Betty Laura Zapata/Bloomberg(Bloomberg) -- Banco Sabadell SA’s British unit TSB is attracting initial interest from potential buyers including Barclays Plc and Banco Santander SA, according to people familiar with the matter. The banks are in the early stages of exploring separate bids for TSB, according to the people, who asked not to be named discussing private information.
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2 weeks ago | 
bloomberg.com | Jan-Henrik Förster
A Swiss national flag ahead of the World Economic Forum (WEF) in Davos, Switzerland, on Sunday, Jan. 19, 2025. The annual Davos gathering of political leaders, top executives and celebrities runs from January 20 to 24. Photographer: Chris Ratcliffe/Bloomberg(Bloomberg) -- The Swiss government approved the country’s new bilateral deal with the European Union, which was hammered out late last year after long negotiations with the bloc.
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2 weeks ago | 
bloomberg.com | Swetha Gopinath |Pamela Barbaglia |Joao Lima |Jan-Henrik Förster
A Novo Banco SA bank branch in Lisbon(Bloomberg) -- Lone Star Funds has decided to pursue a sale of Portuguese lender Novo Banco SA and has entered into exclusive discussions with French banking group BPCE, according to people familiar with the matter. The US private equity firm and BPCE are working on finalizing terms of a deal, which could value Novo Banco at almost €7 billion ($8.1 billion), the people said.
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2 weeks ago | 
news.bloomberglaw.com | Aaron Kirchfeld |Swetha Gopinath |Dinesh Nair |Jan-Henrik Förster
French banking group BPCE has emerged as the leading bidder to acquire Portuguese lender Novo Banco SA from Lone Star Funds, people with knowledge of the matter said. BPCE has pulled ahead of its main rival in the bidding, Spain’s CaixaBank SA, and is trying to hammer out terms of a deal, the people said. Lone Star has also been considering a potential listing of Novo Banco and hasn’t chosen which path to take, according to the people.
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2 weeks ago | 
bloomberg.com | Jan-Henrik Förster |Silas Brown |Leonard Kehnscherper |Swetha Gopinath
Ernesto Bertarelli(Bloomberg) -- Capital Four, a credit manager backed by a vehicle tied to Swiss billionaire Ernesto Bertarelli, has attracted interest from a slew of Europe’s investment firms. Private capital managers Eurazeo and Nordic Capital are among the firms that have held preliminary talks with Capital Four about a potential acquisition of the Danish firm, according to people familiar with the negotiations. The Danish firm has also attracted initial interest from Tikehau, the people said.
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3 weeks ago | 
news.bloomberglaw.com | Leonard Kehnscherper |Jan-Henrik Förster
Franklin Templetonhas agreed to buy a majority stake in European private credit firm Apera Asset Management, deepening the US firm’s push into alternatives. London-based Apera manages more than €5 billion ($5.7 billion) in assets and will bring Franklin Templeton’s global alternative credit assets to $87 billion, according to a statement on Wednesday. Financial terms of the deal weren’t disclosed.
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4 weeks ago | 
bloomberg.com | Dinesh Nair |Swetha Gopinath |Jan-Henrik Förster
The JPMorgan Chase & Co. offices in London. Photographer: Chris Ratcliffe/Bloomberg(Bloomberg) -- JPMorgan Chase & Co. is hiring Citigroup Inc. dealmaker Theodoros Giatrakos as it seeks to bolster its business advising private equity firms, people with knowledge of the matter said. The London-based banker is leaving Citigroup after more than 14 years and is set to join JPMorgan’s financial sponsors group, the people said, asking not to be identified because the information is private.
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4 weeks ago | 
news.bloomberglaw.com | Leonard Kehnscherper |Jan-Henrik Förster
Hargreaves Lansdown Plc Chief Executive Officer Dan Olley is stepping down following the CVC Capital Partners-led buyout of Britain’s biggest retail investment platform. Olley, who took over the top job in 2023, plans to exit his role after a three-month handover period, Hargreaves Lansdown said in an emailed statement Thursday. He will be replaced by independent non-executive director Richard Flint on an interim basis while the firm searches for a permanent successor, according to the statement.
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1 month ago | 
bloomberg.com | Jan-Henrik Förster |Noele Illien
Signage on the exterior of a Julius Baer Group Ltd. banking office in Bern, Switzerland, on Thursday, Dec. 21, 2023. Julius Baer faces a further weakening of its risk profile if it doesn’t address the governance failings that led to large exposures to Rene Benko’s real estate empire, Moody’s Investors Service said. Photographer: Pascal Mora/Bloomberg(Bloomberg) -- Julius Baer Group Ltd.
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1 month ago | 
news.bloomberglaw.com | Jan-Henrik Förster
Julius Baer Group Ltd. is facing another large loss from property developments it helped finance, just as the Swiss wealth manager is emerging from a crisis triggered by its exposure to Rene Benko’s Signa real estate empire. As part of a review of its credit portfolio, Baer is discussing writing down a loan related to real estate project in the German city of Hanover that is on the cusp of default and is also facing a loss from another development, according to people familiar with the matter.
