Europe
Banking and finance news from the United Kingdom, European Union, and broader Europe
BNP Paribas hired two managing directors for UK advisory expansion
BNP Paribas hired Govind Shanbogue from Santander and Sandip Dhillon from UBS as managing directors, expanding its senior UK advisory team to six amid rebounding deal activity.
Kraken parent Payward agreed to acquire Lithuania’s Saldo Bank in Europe
Kraken parent Payward agreed to buy Saldo Bank’s Finnish holding company for an undisclosed sum, with regulatory approval required and completion expected during 2027 in Europe.
Bank of England’s Pill questioned pricing for four rate rises
Bank of England chief economist Huw Pill said he was sceptical that four quarter-point increases would be needed over the next year, despite markets pricing a November rise.
Qivalis won Dutch electronic-money authorisation for planned euro stablecoin launch
De Nederlandsche Bank authorised Qivalis as an electronic-money institution, giving the 37-bank consortium a regulatory base for its planned euro stablecoin launch across Europe this November.
ISS urged Monte dei Paschi investors to reject twin bids
Proxy adviser ISS recommended that Monte dei Paschi shareholders reject proposed bids for Banco BPM and Banca Generali, alongside a related €4 billion special dividend.
Swiss committee backed UBS fee for permanent public liquidity backstop
A Swiss upper-house committee backed the public liquidity backstop and voted 7–5 to make UBS pay an upfront fee because of its substantial international operations.
BBVA began €1 billion second tranche of Spanish share buyback programme
BBVA began the second €1 billion tranche of its extraordinary share buyback programme on 14 October, launching the remaining half of its planned €2 billion capital return.
HSBC completed sale of Germany’s INKA fund administrator to BlackFin
HSBC Continental Europe completed its sale of German fund administrator INKA to BlackFin on 9 October, transferring a platform that administered more than €470 billion at the end of June.
LSEG confirmed talks to buy Permira-owned Octus for about $3.5 billion
LSEG confirmed discussions with Permira over a possible acquisition of financial-data provider Octus at an enterprise value of about $3.5 billion, while stressing that no firm decision has been made.
UK tribunal set February hearing for motor-finance challenges from lenders
Britain’s Upper Tribunal scheduled 16–26 February 2027 hearings for challenges to the FCA’s motor-finance compensation scheme, which the regulator estimates could cost the industry £9.1 billion.
Crédit Agricole agreed to acquire Germany’s IKB from Lone Star
Crédit Agricole agreed to buy all of IKB Deutsche Industriebank from Lone Star Funds, adding a German lender with €14.3 billion of assets and an €8.2 billion loan book.
Bank of England’s Greene said 3.75% rate was not restrictive
Bank of England policymaker Megan Greene said the 3.75% policy rate was not very restrictive, strengthening her case for a rise before November’s decision meeting.