Digital banking: Special focus

Digital banking: Special focus

Big data, analytics and technology

Emerging Europe: Special focus

Emerging Europe: Special focus

Exploring the banking and capital-market landscape

Corporate securitization: Trouble brews in UK pub sector


Bondholder standoff on the cards at ailing Punch.


Long a poster child for the concept of corporate securitization, the UK’s largest pub group, Punch Taverns, now finds itself at the centre of what could be a spectacular disintegration of the concept. An eyewatering 97% of Punch’s £5.2 billion ($8 billion) pub estate has been securitized – a process driven by former chief executive Giles Thorley, who co-founded Nomura’s Principal Finance Group with Guy Hands in the early 1990s. These deals are, however, now on life support, and the stage is set for a landmark standoff between bond and equity holders over their future....


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Final days of Ricardo Salgado and Banco Espírito Santo

Euromoney Pulse Survey: Renminbi’s internationalization continues apace
When BES collapsed earlier this year, markets briefly feared a return of the crisis to Portugal and to Europe. Even after the bank's bailout, investigators still pore over bank documents, transfers and deals, trying to make sense of Salgado’s last days battling to keep his empire afloat. The backstory is of an extraordinary decades-long rivalry between the country's two pre-eminent business families.