
Deutsche Bank's Simon on European Wake Up Call on Competitiveness
Deutsche Bank Americas CEO Stefan Simon speaks to Bloomberg's Scarlet Fu on European competitiveness, the increasing demand from US buy-side firms for European banking relationships and Deutsche bank growth priorities in the US. Simon speaks at the Bloomberg Sell Side Leaders Forum on April 22, 2025 in New York. (Source: Bloomberg)
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Bloomberg
37 minutes ago
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Euro Could Reach $1.40 Within Two Years: Macro Hive
Macro Hive CEO Bilal Hafeez says the euro could reach $1.40 within one or two years. "There has to be an outlet somewhere for dollar weakness," Hafeez tells Bloomberg Television. FX options show growing appetite for medium-term euro upside. Markets now see nearly a 1-in-2 chance of the single currency trading above $1.20 by the end of 2027, a far cry from a year ago where there was talk of parity. (Source: Bloomberg)


Forbes
an hour ago
- Forbes
Platinum Chases Gold Hitting A Four Year High Of $1218/oz
Platinum has returned as a precious metals star, delivery fat profits as investors rotate funds out of gold, the sector leader. Platinum's sister metal palladium is also rising strongly. Both platinum and palladium seem likely to continue outperforming as a decade of oversupply gives way to signs of a shortage developing. A miner handles a piece of raw platinum ore in South Africa. Photographer: Waldo Swiegers/Bloomberg Over the past month the platinum price has risen by 24% to a four-year high of $1218 an ounce, while palladium is up 13% at $1077/oz. Gold, on the other hand, has risen by 1.5% to $3205/oz, though that modest move needs to be seen against a background of three spectacular years of soaring demand and an 83% increase from a price around $1810/oz in June 2022. The platinum rebound has been a long time coming though some investors might remember that it wasn't that long ago when the platinum price was comfortably higher than gold. In mid-2008 an ounce of platinum cost $2068, more than double gold which was selling for $903/oz. Demand for platinum and palladium has traditionally been driven by a combination of jewelry and industrial uses, especially for in the catalytic converters of internal combustion engines where they play a role in minimising the emission of environmentally damaging nitrous oxide. But in 2015 the platinum market crashed after it was revealed that the big German car maker Volkswagen had been falsifying exhaust system measurement sparking a scandal dubbed Dieselgate. Within months the platinum price had crashed to just $804/oz. Palladium, which is the preferred metal in the exhausts of gasoline powered vehicles, also fell but not as steeply. Further weighing on the prices of platinum and palladium has been the rise in sales of electric vehicles, which do not require a catalytic converter – though hybrid electric cars do, and in some case their converters require a heavier coating of platinum or palladium. A General Motors catalytic converters. (Photo by Reuter Raymond/Sygma via Getty Images) But the major factor in this year's platinum revival is as simple as the run-down of stockpiles which date back to the Dieselgate days meaning that newly mined supply is struggling to keep up with demand. Mines in South Africa, the major source of platinum, have cut back during the years of low prices, as have the palladium mines of Russia which are the primary source of that metal. A measure of the changing fundamentals of the platinum market came last month in a report from the World Platinum Investment Council (WPIC) which forecast a supply deficit this year of 966,000oz, the third consecutive deficit year. More importantly, the latest deficit could put pressure on the platinum price because the WPIC is forecasting that the stockpile will shrink to 2.16 million ounces, enough to meet just three months of demand. The sudden shift in the platinum market, which has really been 10-years in the making, has sparked a sharp increase in the prices of platinum miners with the biggest beneficiary being Valterra Platinum, the renamed Anglo American Platinum. Since listing earlier this month on the London Stock Exchange Valterra shares have followed the platinum price, up 24%. Smaller platinum stocks have done better. Zimplats, a Zimbabwe-focused miner controlled by South Africa's Impala Platinum has risen by 60% over the past month while Australian-listed Southern Palladium, which is planning to develop a new platinum mine in South Africa is up 120%.


Business Wire
an hour ago
- Business Wire
AlbaCore Capital Brings Aboard Diarmuid Curran to Enhance European CLO Capabilities
LONDON--(BUSINESS WIRE)--European credit specialist, AlbaCore Capital Group ('AlbaCore'), has announced the appointment of Diarmuid Curran as Managing Director and Portfolio Manager. Diarmuid Curran has joined AlbaCore as Managing Director and Portfolio Manager, bringing a wealth of experience in European credit markets to further strengthen the team and support the continued growth of the firm's European CLO platform. Diarmuid will focus on AlbaCore's leading European CLO platform – both new issuance and existing CLO fund management, reporting to Deborah Cohen Malka, Partner and Portfolio Manager, who leads the CLO business. 'I'm pleased to welcome Diarmuid to the team at AlbaCore,' said Deborah Cohen Malka. 'His background and experience will strengthen our capabilities as we continue to take advantage of the pipeline of opportunities in Europe on behalf of our investor base.' Diarmuid joins AlbaCore from Napier Park Global Capital, where he served as a Portfolio Manager. In that capacity, he was responsible for managing a portfolio of European loans and High Yield bonds held in CLOs as well as credit selection and underwriting as a member of the Investment Committee. 'I've been impressed from afar by AlbaCore's reputation in the European market,' said Diarmuid Curran. 'I look forward to working with Deborah and the team to build upon their well-established European CLO business.' In March of this year, AlbaCore successfully priced AlbaCore Euro CLO VII - it's 7 th CLO – bringing the total value of CLO platform assets under management to c. €2.9 billion. The CLO platform incorporates negative ESG screening criteria in combination with AlbaCore's fundamental research and risk focused ESG considerations, including restrictions on the industries in which the CLO can invest. About AlbaCore Capital Group AlbaCore Capital Group is one of Europe's leading alternative credit specialists, investing in private capital solutions, direct lending, opportunistic and dislocated credit, CLOs, and structured products. Founded in 2016, AlbaCore is part of the First Sentier Investors Group. AlbaCore's investment philosophy is focused on capital preservation and generating attractive risk adjusted returns through the cycle for its investors. AlbaCore manages US $10.0 billion in AuM3 as of 31 March 2025 on behalf of global pension funds, sovereign wealth funds, endowments, insurance companies, family offices and high net worths around the world.