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FCA must backtrack over Saudi oil giant Aramco

Andrew Bailey, the chief executive of the Financial Conduct Authority, is usually good at reading the breezes. He is the safe-hands operator whom the former chancellor George Osborne switched from the Bank of England to inject some much-needed credibility into FCA after its various calamities.

Reuters - HSBC in big win

HSBC has been formally mandated as an adviser on the initial public offering of Saudi Arabia's national oil giant Aramco IPO-ARMO.SE, expected to be the world's largest ever IPO, HSBC's chief executive said on Monday.

Evercore said in big win

Evercore Partners, the U.S. bank founded by Roger Altman, won a role to advise on the planned initial public offering of Saudi Arabian Oil Co., according to people familiar with the matter, getting a coveted spot on what may be the largest-ever listing.