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Jon 'Mystic Mac' Macaskill takes a look at the year ahead in banking and trading
Published December 2016 euromoney.com
Bank stocks rallied after Trump’s victory in the US election on hopes that higher trading revenue will outweigh potential disruption to global trade. A second act for traders now beckons.
Published November 2016 euromoney.com
Donald Trump vilified Wall Street during his presidential campaign in stump speeches and an advert that featured an image of Goldman Sachs CEO and chairman Lloyd Blankfein as a symbol of the “corrupt machine” that needed to be overthrown.
Euromoney December 2016
A recent $17.5 billion bond issue by Saudi Arabia was hailed as a resounding success by capital market participants who have a strong interest in further fundraising by the kingdom, including an expected IPO of Saudi Aramco that could break records with a size around $100 billion.
Euromoney November 2016
It seems $100 billion is the new benchmark fundraising target for firms looking to make an impact.
Deutsche Bank and Wells Fargo should make clawbacks of executive compensation a priority as they try to manage crises that threaten their viability.
Published September 2016 euromoney.com
It has been over a month since Eric Ben-Artzi publicly declined his half share of a whistleblower award of $16.5 million for telling regulators about Deutsche Bank’s inflation of the value of a $98 billion credit derivatives portfolio during the financial crisis.
Goldman Sachs almost certainly made a good investment when it paid Hillary Clinton $675,000 for three speeches.
Euromoney September 2016
Unlike the contrarian investors who would welcome some creative disruption to market certainties, most bankers seem to fear the turmoil that could well follow an election victory for Donald Trump.
The case against two HSBC employees for front-running a foreign exchange order from a client could hasten the death of the principal model for FICC trading by banks. A shift to an advisory-based approach is possible, but banks will struggle to make up lost revenue.
Euromoney August 2016
When HSBC’s former head of global FX cash trading Mark Johnson learned that he had a window of just over 30 minutes to move the sterling exchange rate and profit from an approaching client trade, he said: “Ohhh f***ing Christmas,” according to US prosecutors.
Traders claiming to have profited from the Brexit vote were slow to identify themselves in the wake of the historic decision for the UK to leave the European Union.
Euromoney July 2016