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Scandals fraud and losses in the financial markets

Scandals fraud and losses in the financial markets

HSBC is the latest bank to be hit by attempted fraud, which Euromoney was first to report.

Abigail Hofman

Abigail Hofman

We’re here to save the world and we don’t need any questions

Abigail Hofman


Abigail Hofman
Abigail Hofman
Columnist

Columnist

Abigail qualified as a barrister before going to work as a graduate trainee at Merrill Lynch, London in the mid-1980’s. She spent the next 18 years as an investment banker specialising in bond origination and worked for a variety of firms. In her last role she was a Managing Director at Barclays Capital responsible for Debt Capital Markets.

Abigail ‘retired’ from the City in 2001 and went to study at La Sorbonne in Paris for a year. When she returned to London, she found doing nothing unutterably boring and thus started working as a freelance journalist. Abigail has written for many different publications including the Financial Times, the Times, the Sunday Times, the Sunday Telegraph and Vogue. She joined Euromoney as a columnist in March 2006.

Abigail with attitude – Abigail Hofman's column on investment banking – the different and daring views of a former senior investment banker who has her finger on the pulse of everything that’s happening at the banks which make this market. A light-hearted look at the financial markets players as well as the issues that keep bankers up at night. 

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Recent stories by Abigail Hofman

  • Abigail Hofman: "We’re here to save the world and we don’t need any questions"

    The world is starting to resemble a spinning top: one week the markets soar, the next they sink. Even mighty masters of the universe are confused: hedge funds and banks had a dire month in March.

    Published April 2008 euromoney.com

  • Abigail Hofman: Armageddon has arrived

    We are engulfed in a tornado of gloom. Wall Street titans and employees alike have seen their share options decimated, pension pots plummet and everyone feels insecure about job security. I’m hearing that investment banks need to cut 20% of their employees to accommodate lower profitability.

    Published April 2008 euromoney.com

  • Abigail with attitude: Banking's convoluted calamity

    Credit Suisse’s convoluted saga is a calamity for the banking sector as a whole. People might assume that banks don’t understand the numbers they are dealing with and that the numbers that are reported are not reliable.

    Euromoney March 2008

  • Abigail Hofman: The credit crunch tornado

    The credit crunch has been a tornado that has shown no regard for the reputations of formerly revered individuals.

    Euromoney February 2008

  • Abigail with attitude: Top London financiers

    Ruling Citi would be like ruling the Forbidden City. There is so much breadth to the institution that it would be hard for any one individual to span the various sectors: investment banking, consumer banking, wealth management and retail brokerage. And as for structure, I’ve had mud baths that are more transparent.

    Euromoney January 2008

  • Citi for dinner, a duet and an alphabet of alphas

    Citi is proof of the adage: “You can’t be all things to all men.” A mole confided: “I’m all for breaking it up.” In my first column, published in April 2006, I queried the strategy and investment validity of Citigroup. Eighteen months later, I’m still asking the same questions.

    Published December 2007 euromoney.com

  • Abigail Hofman: A new breed is stalking the financial markets: it’s called an interim.

    Despite all the jawboning over the past few years about succession planning, banks seem woefully unprepared if they are forced to jettison a flailing chief executive because of cauldron-like shareholder pressure.

    Euromoney December 2007



Even when the market was functioning we could see that these were very poor quality assets – a deal that is a pig at par is still a pig at 96

Ian Cash, managing director at Alchemy Special Opportunities Fund, on why the distressed debt market is only for the brave

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