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Europe’s LNG Import Deluge Spurs Spanish Oversupply Warning
Banks Face Bigger Deposit Insurance Payments Under New FDIC Rule
US Factory Production Rises for a Third Straight Month
Loeb’s Third Point Wants Colgate-Palmolive to Unload Pet Business
Home-Goods Retailer Conn’s Sinks as CEO Exits, Forecast Pulled
BT Pension Says LDI Turmoil Sent Asset Values Down £11 Billion
Salesforce Jumps After Activist Investor Starboard Takes Stake
British Land Weighs £590 Million Facebook London Office Sale
German Cybersecurity Chief Suspended Over Alleged Russia Ties
UK Tories Cave to Allow Free Vote on Abortion Clinic Protests
Social Security’s Cost of Living Increase Means Benefits May Run Out Sooner
The Once-Hot Market for Metaverse Land Is Attracting Risky Bets
Luz Long’s Olympic Silver Auctioned for Nearly $500K
BMW Boss Says Hydrogen, Not Electric, Will Be ‘Hippest Thing’ to Drive
Can the World Learn to Live on Less Water?
$200 Diesel Puts Biden in an Ugly Corner
How to Fix the Nursing Shortage
Mark Zuckerberg Isn’t Saying Much About Facebook These Days
AT&T Is Counting on Government Stimulus Dollars to Help Fund Its Broadband Future
Taking ‘Abrasive’ and ‘Nice’ Out of Performance Reviews
GOP-Friendly House District Becomes Nail-Biting Race on Abortion
Black British Founders Are Looking to US for Funding
Tipping Points Aren’t Just for Climate Catastrophes
US Plans First Sale of Offshore Wind Rights Off California
In Race to End Homelessness, San Antonio Takes the Lead
Chicago Plans to Speed Up Vacant Lot Sales in Bid to Curb Crime
How Cold Seawater Can Heat Helsinki’s Homes
The Once-Hot Market for Metaverse Land Is Attracting Risky Bets
Finding Opportunities in the Distress of Crypto Bankruptcies
Crypto Foot Race Heats Up as Ex-Meta Staff Start Blockchain
Hi, it’s Matthew Monks in New York on this merger Monday. Today I’m interviewing a UK adviser looking to make it big in the US. We also have a small flurry of deals announced, including a big one in the energy patch, plus we bring you up to speed on Rupert Murdoch’s quest to reunite his empire.
Today's top stories
Malik Karim started his UK advisory firm Fenchurch about 20 years ago, after leaving Credit Suisse. The firm, backed by Natixis with a focus on financial services, is now looking to expand in the US with the hiring this year of John Sipp, another Credit Suisse veteran who spent the past decade at Moelis. I chatted with Karim and Sipp about the firm’s stateside ambitions. —Matthew Monks
Tell me about Fenchurch and how it all started?
Karim: I spent my career in the larger investment banks. I came out of Credit Suisse in 2002. The model of a specialist advice-only boutique investment banking business was proven in the UK market—there were precedents like Phoenix Securities, Lexicon Partners. When I emerged from a larger bank it was clear that the model for investment banking was changing and there was going to be a structural shift away from the larger banks, which were integrated and had conflicts, to a more personalized expertise, a confidential trusted adviser model.