Indian AT1 capital raising gets off to poor start

Listed on Abu Dhabi’s securities exchange, the $100 million three-year deal is executed via HSBC’s digital assets platform.

Rahul Badhwar will start as senior country officer in July in Mumbai.

The partnership, known as GLIDE, is targeting $5bn of high-quality warehouses across the Middle East; it's expected that more partners in the GCC will participate; FA understands an office is being set-up in Abu Dhabi.

The $680m deal includes UCB's brands Keppra, Vimpat, Neupro, Zyrtec, Xyzal, and its Zhuhai manufacturing site, and was made in partnership with Mubadala Investment Co.

As ties build between Hong Kong and Abu Dhabi, the two exchanges are exploring joint initiatives in market promotion, ETFs, ESG-related products, cross-listings and "other areas of mutual interest".

Citi Commercial Bank in India has appointed Kannan as head of digital, technology, communication, business & professional services and industrials; he will join in December and has worked at JP Morgan for over 15 years.