Quotes of the month

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“They needed a good kick up the backside”

Tony Fernandes, CEO of Air Asia, on the post-crisis banking industry
( Fernandes fires up Asian expansion)

“It’s an honour to be encouraged. But for the time being I am focused on what I am doing here”

Riad Salamé, governor of Lebanon’s central bank, on rumours that he might become the country’s president
( Private-sector success cries out for public-sector reforms


“They do actually still fulfil that somewhat useful social service, despite what’s in the press, and we’d be somewhat buggered without it” 

Damian Glendinning, treasurer of Lenovo, explains why companies such as his still need banks
( Banking Asia's global champions)


“Margins are shrinking faster than a speeding bullet. It’s a death spiral to compete on price, and everyone claims to offer great service. I want to disrupt banking and give customers an entirely different experience” 

Ray Davis, president of Umpqua Bank in the US, is trying to redefine retail banking
( Umpqua redesigns retail banking)


“I want the government to understand that in the new Libya, even if you have the power, you must act within the boundary of law, of rules and regulations. Otherwise, we shouldn’t have gone out on February 17 and deposed Gaddafi. Because it’s going to be exactly the same”

Mohsen Derragia, outgoing head of the Libyan Investment Authority, fears for the future of his country
( The battle for the Libyan Investment Authority)