The truth about Asian investment banking
China’s $1.7 trillion hangover

China’s $1.7 trillion hangover

Up to 40% of China’s $1.7 trillion LGFV loans are at high risk of default. What’s a panicking Beijing to do?

July 2007

But who’s the best Quigley?


Wall Street investment bankers were agog at the news. Could it really be that Jimmy Quigley, debt capital markets legend and icon of Merrill Lynch’s dominance of the primary bond markets in the 1990s, had become an accountant?


News that Jim Quigley was to become the new CEO of Deloitte, the world’s second-largest professional services firm, spread like wildfire across the dealing rooms of New York and beyond.

"Have you seen the news about Jimmy Quigley?" one senior investment bank exec, who used to run a debt syndicate department in the 1990s and knows Quigley well,...


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