Quotes of the month

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"Issuers can tap the US private placement market but we want to get to the next leg down. In the long term European corporates want their own source of demand"

Huw van Steenis, head of European bank research at Morgan Stanley, is a proponent of Capital Markets Union plans for a private placement market in the EU


"If the Swiss National Bank can abruptly abandon its long-standing policy that it had just reaffirmed to the world, spitting in the face of what a western country is supposed to embody, then what about the other currencies that carry significant risk?"

Drew Niv, head of foreign exchange broker FXCM, is still reeling from the exchange rate moves that brought his firm to its knees


"You have to recognize that for clients wanting to do large size in today’s illiquid markets, even merely enquiring about a bond can move the market price against the investor"

Stu Taylor, head of Algomi, understands that pre-trade information trumps execution as the most important concern in bond trading today


"Intangible assets are becoming the main drivers of economic and wealth development. But those assets are not easily exchangeable. And as for financing them, banks are still in the industrial age while the real economy is moving into the knowledge age"

Investment banker-turned-FinTech entrepreneur Andre Lee wants a new form of financing to help small companies grow


"International investors are still asking why they should have any faith in the regulator after what happened at BES"

André Rodrigues, an analyst at investment bank CaixaBI, says the fallout from the collapse of Banco Espirito Santo lingers – but that hasn’t stopped as many as 16 bidders for its legacy 'good’ bank, Novo Banco


"It is our absolute priority to repay all our debts on time, and even in a worst-case scenario we are confident we will have a sufficient budget surplus and the tools to do this"

Alexander Zaborovsky, Belarus’s first deputy economy minister, tries to send a clear message to international bond investors – but do they believe him?


"We are through the legacy. That was the key highlight of 2014, that we managed to get to 100% problem loan coverage, and that was something frankly I thought might take to the first quarter of 2015. That was a major milestone for us"

Shayne Nelson, chief executive of Emirates NDB, says the Gulf-based bank can finally look to the future after a difficult merger