S&P Global Market Intelligence Announces Partnership with Coalition

Coalition’s unique reports on the investment banking industry available on a quarterly basis through S&P Global Market Intelligence’s Aftermarket Research Offering

Feb 23, 2017 / 09:00 AM

S&P Global Market Intelligence, a leading provider of multi-asset class research data and insights, today announced it is partnering with CRISIL'S division Coalition, a leading analytics and business intelligence provider, to offer strategic competitive intelligence on the global investment banking industry.

As part of this partnership, Coalition’s unique reports on the investment banking industry will be made available each quarter through S&P Global Market Intelligence’s extensive Aftermarket Research offering on its S&P Capital IQ Platform. The reports offer a broad view of the industry, as well as a detailed analysis of the Coalition Index - the top 12 global investment banks - by analysing revenues, headcount, and productivity across 13 Investment Banking Division (IBD) and Global Markets products in the Americas, APAC and EMEA. The reports also include further insights into operating margins, risk-weighted assets (RWA), and exposure and returns of the Index.

The forthcoming report for full year 2016, to be made available on the S&P Capital IQ Platform at the end of March, will show that revenues at Coalition Index banks have remained relatively stable as a result of a strong year in fixed income, commodities and currencies (FICC). Strength in G10 rates, municipal bonds and credit linked products have offset declines in equity capital markets and M&A, as well as poor performance in structured equity products.

“Despite the recent stability in top-line performance, we continue to see volatility in market share due to product optimization and some restructuring among global and regional banks,” highlighted George Kuznetsov, Global Head of Research and Analysis at Coalition.

“Banks have done much to optimise their headcount and some parts of compensation but there is still continued pressure on non-compensation costs. They have also reduced RWA, however return on equity remains a challenge and below the cost of capital (usually estimated at 10-12%) for investment banks,” continued Kuznetsov. “Given that the large effort to reduce exposure has been successful, the focus is expected to move to RWA in 2017 as banks start preparing for the Fundamental Review of the Trading Book capital requirements”.

“Investment banks are focusing on rationalisation efforts and business simplification, in an effort to mitigate weaker revenue and operating margins in a context of higher regulatory pressure and associated costs,” said Silvina Aldeco-Martinez, Managing Director, Capital Markets, at S&P Global Market Intelligence.

“The launch of this partnership with Coalition builds on our capabilities to provide essential intelligence on investment banks around the world. We hope that these reports will provide our clients with deep insights into the relative competitive positions of key players in this industry. Furthermore, the addition of Coalition’s reports expands our already comprehensive and diverse Aftermarket Research Collection and top tier broker research.”

“We are very pleased to be launching this enhanced Coalition Index report series leveraging the broad distribution network of the S&P Capital IQ Platform,” said Stephane Besson, CEO of Coalition, a division of CRISIL.

“These quarterly reports will provide new and unique insights on the performance of the investment banking industry, across detailed FICC, equities and IBD products, to support a variety of functions across bank Strategy, COO and Equity Research teams. This is the first set of analytics in our new series and we look forward to developing our content on the S&P Capital IQ Platform over the coming months.”

S&P Global Market Intelligence’s Aftermarket Research Collection features more than 25 million research reports from over 1,700 brokers and independent market research providers. The combination of the strength of the S&P Capital IQ research platform and the expert insights of Aftermarket Research contributors create a comprehensive enterprise-wide research solution, including the investment banking industry. Other leading contributors include top global and regional firms, such as J.P. Morgan, UBS Investment Bank, HSBC, Deutsche Bank, Jefferies & Company, RBC Capital Markets and Societe Generale.

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About Coalition

Coalition is a business division of CRISIL, a global, agile and innovative analytics company driven by its mission of making markets function better. CRISIL is India’s foremost provider of ratings, data, research, analytics and solutions, and is majority owned by S&P Global Inc

Coalition is a leading analytics and business intelligence provider to the global financial services industry. We provide objective research and analysis to support strategic and tactical decision-making in four areas:

  • Competitor Analytics: Benchmarking performance to assess competitive advantage
  • Risk Analytics: Analysing RWA, Balance Sheet and Returns to assess efficiency and performance
  • Client Analytics: Sizing individual client wallets to assess potential opportunities
  • Country Analytics: Quantifying revenue pools and characteristics to assess positioning by country

The Coalition Index provides a simple, standard, aggregate index for the overall size and shape of the Global Investment Banking industry. It consists of the leading 12 Global Investment Banks, listed in alphabetical order by ticker symbol – BoAML, BARC, BNPP, CITI, CS, DB, GS, HSBC, JPM, MS, SG, UBS

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S&P Global Market Intelligence
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