| |
|
Stan O’Neal, Merrill Lynch’s chairman and chief executive |
The O’Neal era Merrill ethic
As well as discussing the risks in the market, he outlined why the long-term prospects for investment banking are bright: how global capital flows are opening new markets and providing a new resilience to financial markets; and how the role of an investment bank as an intermediator of capital will grow in both developed and developing markets.
Everybody seems to be expecting a downturn in financial markets. When will it come?
Let’s start with the positives, because out of the positives come some of the concerns for risk. There’s growth in virtually every part of the world simultaneously, and reasonably healthy growth. Wealth is being created in the process, so there’s also lots of liquidity. At the same time markets have become much more interconnected, and there’s a freer flow of capital. Increasingly sophisticated investors are directing more and more of the flows. The upshot is that there are a lot of opportunities across asset classes that did not exist perhaps just a few years ago.
This is archived content. Your current settings does not currently allow access to the archive. To gain access visit the subscription page or call our hotline on +44 (0)207 779 8999.
If you are a trialist or subscriber, please enter your username and password at the top right-hand side of euromoney.com
Subscribers to Euromoney benefit from:
Level 1:
- Online access to the past 12 months content
- Tailored RSS news feeds direct to your desktop
- News delivered directly to your mobile device or PC
- Personalised email newsfeed of 'Top stories' and 'Breaking news'
Level 2:
- Exclusive access to euromoney.com - Read the latest issue early online, search for specific developments by region or sector, interrogate the results of Euromoney's benchmark polls, and view the archive dating back to 2000
- 12 monthly issues of Euromoney magazine
- More than 30 specialist research guides free
- The results of Euromoney’s polls and surveys
- Tailored RSS news feeds direct to your desktop
- News delivered directly to your mobile device or PC
- Personalised email newsfeed of 'Top stories' and 'Breaking news'
Click here to subscribe