Tuesday July 20 1999
Perseus Marconi, executive chairman of Sigma Banking Group, a €20 billion conglomerate based in Amsterdam, rides a limo from his canal-side residence to the bank's space-age headquarters in Foppingadreef. He is delighted with his London-based investment bank's huge underwriting of a €5 billion equity issue for Hermes, a UK-based phone and satellite company, not to mention a sister issue of €3 billion in high-yield bonds. For Marconi, this is the future, the fusion of banking and telecommunications into a single sector - finance and information delivered instantly to any point on the globe - and beyond!
Things have been looking better by the day. A thriving Europe has slowly been pulling world markets out of recession. Stock markets have made up a lot of the ground they lost in the second half of 1998. Even bank stocks are improving.
Marconi riffles...
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