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Tuesday's Headlines: Spain's Santander Bank Tops List of Green Banks

Banco Santander topped Bloomberg's inaugural listing of green banks thanks to its in-house conservation efforts and focus on eco-minded deals. Goldman Sachs came in No. 2 overall and topped the list in green investing.

The Madrid based bank has closed 40 energy-related deals so far this year, 90 percent of which were in renewable energy.

The ranking of 188 banks worldwide with market capitalizations of at least $10 million was based on company filings, websites, social responsibility reports and other public documents. Eight of the top 10 banks are based in Europe and include Credit Suisse and Milan-based UniCredit. Citigroup is the only other American bank to make the list, coming in at No. 5 thanks to its $50 billion pledge in 2007 to fight climate change.

Other news:

Global M&A deals totaled $784.1 billion so far this year, marking the highest volume for the period since 2007. [Reuters]

The FDIC's new insurance rules cut off an arbitrage avenue which allowed for easy profit. [Financial Times]

Private equity could be tapped to offset lower corporate tax rates. [Reuters]

Boutique firms grabbed a record share of European merger advice fees. [BusinessWeek]

SJB National and Capital One have expressed interest in ING's U.S. online bank. [Bloomberg]

The top 25 hedge fund managers pocketed $22.07 billion in 2010, with John Paulson leading the herd with a $4.9 billion package. [AR Magazine]

AUTHOREmma Johnson Insider Comment

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