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Summary
The failure of Silicon Valley Bank and Signature Bank sparked concerns beyond the U.S. about lenders’ liquidity positions. It prompted a share selloff in Europe and accelerated the demise of Credit Suisse after its long struggle to return to profitability. Amid the market turmoil, how solid is Europe’s banking system?
- How resilient are European banks’ liquidity and capital profiles?
- How might regulators next respond to recent market ructions?
- In a macro environment of higher rates, will banks’ higher lending revenues be enough to offset credit and deposit costs?
- Should investors be concerned about unrealized losses on banks’ bond portfolios?
Moderator
Darragh Riordan
S&P Global Market Intelligence
Industry Editor, EMEA Financials
Darragh is an editor in the Europe, Middle East and Africa Financial Institutions Group at S&P Global Market Intelligence. He is responsible for coordinating exclusive features and data-driven insights on topics including M&A, corporate strategy, regulation and ESG at banks across the region.
Darragh is an editor in the Europe, Middle East and Africa Financial Institutions Group at S&P Global Market Intelligence. He is responsible for coordinating exclusive features and data-driven insights on topics including M&A, corporate strategy, regulation and ESG at banks across the region.
Prior to joining the banking team, Darragh worked on the consumer and retail desk at Market Intelligence, focused on companies including Amazon.com, Tesla and LVMH. He also reported extensively on the European private equity industry while at Real Deals.
Speakers
Max Kettner
HSBC
Chief Multi-Asset Strategist
Max Kettner joined HSBC Global Research in September 2018 as a Multi-Asset Strategist. Prior to joining HSBC, Max spent several years as a cross-asset strategist at a large European bank where his focus was on Multi-Asset modelling, Emerging Markets, Macro and Credit.
Max Kettner joined HSBC Global Research in September 2018 as a Multi-Asset Strategist. Prior to joining HSBC, Max spent several years as a cross-asset strategist at a large European bank where his focus was on Multi-Asset modelling, Emerging Markets, Macro and Credit. In addition, he is a Qualified Banking Officer, having trained for two years at a German savings bank. Max is a highly ranked analyst, having most recently been voted #2 Multi asset analyst from 2018 to 2022 the Institutional Investor Survey. Max holds an MSc in Finance, a BSc in Economics & Business Administration and is also CFA charterholder.
James Worsnip
AlixPartners
Partner & Managing Director
James advises on litigation support, valuation, economic profitability, and conduct-related matters. His work is often conducted in contentious, high-profile situations in which expert determinations are required to support an assessment of damages, to protect companies from regulatory intervention, or to support a restructuring.
James advises on litigation support, valuation, economic profitability, and conduct-related matters. His work is often conducted in contentious, high-profile situations in which expert determinations are required to support an assessment of damages, to protect companies from regulatory intervention, or to support a restructuring. James is a banking and valuation expert in relation to Royal Bank of Scotland's (RBS's) and Cattles' ongoing rights issues. He has served as a valuation expert in support of the regulatory clearance of a reorganization of the European banking operations of a US banking group and as valuation lead in the development and launch of the Asset Protection Scheme of Her Majesty's Treasury. And he has performed investigations into the failures of Bradford & Bingley and the Dunfermline Building Society.
Andrew Buchanan
Peel Hunt
Head of Financial Institutions Group
Andrew graduated with a degree in Philosophy, Politics and Economics from the University of Oxford.
Andrew graduated with a degree in Philosophy, Politics and Economics from the University of Oxford.
Andrew began his City career as an analyst at the pioneering hedge fund IKOS Partners in 1997 before joining HSBC James Capel in 1998 as an equity analyst in the top ranked pan-European banks sector research team.
In 2004 he joined UBS Warburg’s UK investment banking team focused on advising the firm’s financial services clients. His UK clients included Lloyds Banking Group, RBS Group, Standard Chartered, Abbey National, Bradford & Bingley, Paragon Banking Group, Bank of Ireland, Ashmore, INVESCO, Admiral and Prudential. During his time at UBS Andrew worked on numerous transactions including:
• Abbey National takeover by Grupo Santander
• RBS Group acquiring Citizens
• Lloyds Banking Group acquiring HBOS
• Standard Chartered acquiring Korea First Bank and American Express Bank
• Recapitalisations of RBS Group, Lloyds Banking Group, Paragon, Monte dei Paschi di Siena, Unicredit, Commerzbank and Raiffeisen International
In 2016 Andrew joined Canaccord Genuity as Head of the Financial Institutions Group in investment banking.
In 2018 Andrew joined Peel Hunt where he is currently Head of the Financial Institutions Group in the investment banking department and advises financial services clients including Paragon Banking Group, Rathbone Brothers, TP ICAP, IntegraFin, Brooks Macdonald, Impax Asset Management and Polar Capital.
Dr. Tobias Miarka
Coalition Greenwich
Head of Corporate Banking
Toby Miarka advises international as well as domestic banks on strategic client service and product issues that result in profit enhancing and sustainable solutions.
Toby Miarka advises international as well as domestic banks on strategic client service and product issues that result in profit enhancing and sustainable solutions.
Before joining the Firm in 2006, Toby was a vice president at an M&A boutique and worked as an associate in the M&A department of Goldman Sachs in Frankfurt. He also was a research fellow at the Science Center Berlin, working on Bank-Firm relationship models in Germany, Japan, U.K., and the United States. Toby holds a Ph.D. in Economics from Humboldt University, Berlin and an MBA from the University of Cologne, Germany.
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