Australia’s domestic bond market is under high competition between Commonwealth Bank of Australia (CBA) and Barclays. The old order of Data Capital Management (DCM) Australia might pursue the new order. CBA alone has soared as the top Australian dollar league in 2021. Barclays, too continues to get increased benefit from a local tie-up, recorded IFR Asia.
CBA has performed to be the best DCM bank since 2007. From FIG and corporate rankings, plus leading in government issuance enabled CBA to reach its top place. The Australia and New Zealand Banking Group (ANZ) is CBA’s number one competitor. This time in 2022, CBA lies directly behind ANZ after participating in 13 of the 46 year to date deals. CBA has a 12.6% share of the $22.9bn market as of March, this year.
There is no sign of damage or risk in CBA’s growth. It continues with promoting and hiring key personnel. They are Sydney-based Des Fennel as global head syndicate in 2019 following head of fixed income in Asia syndicate based in Singapore. Andrew Hinchliff became group executive of institutional markets in 2018. Chirs McLachlan became manager of global markets last month. McLachlan leads the bank’s capital markets, fixed income, rates, and exchange activities.
Few changes also happen in global business market division. Organized, Ttransformed, and distributed are the key changes in the market division. Client ecosystem also gets more vibrant. It helps clients to meet the needs in each industry. Special client management team is made specifically for distributing loans, bonds, and longer-dated structure products in the mainland via an expanded global network.
McLachlan remarked that CBA has a strong local issuer, expanded global investors, and a great share of SSA Kangaroo. CBA also supports international issuers for the Australia and New Zealand Market.