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Peter Lee joined Euromoney straight from Oxford university in 1985, swapping the delights of studying Coleridge and Wordsworth for the more rigorous discipline of breaking news out of the syndicated loan market. After a year reporting for the Euromoney capital markets guide, Peter joined the companys flagship title as a staff writer concentrating on core capital markets. His investigations of the controversial Libyan block sale of Fiat shares that almost killed the international equity new issue market at birth and on the LBO of United Airlines that threatened a great stock market crash, persuaded his editors to keep him in employment and send him round the world to report on the rapidly internationalizing financial markets.
At the start of the 1990s, Peter moved to New York as Euromoneys US editor, producing a string of cover stories including profiles of Goldman Sachs and the rapidly growing acquisition machine Chemical Bank, investigations on the dangers lurking in derivatives markets. Returning to London, he became editor of Euromoney in 1999 and directed its coverage of the birth of the euro capital market, the internets transformation of financial services, the emergence of China, Enron and related scandals, the explosive growth of hedge funds.
Peter became editorial director of Euromoney in May 2005. He is 42, married with two children and lives in Wandsworth, south west London. His abiding interests are football, rugby, cricket, literature, drama: think Stuart Pearce meets Salman Rushdie.About us
As he steps down from the CFTC on inauguration day, Timothy Massad warns the new administration that wholesale repeal of post-crisis financial regulation would be a big mistake.
Published January 2017 euromoney.com
Taking post-trade processing onto distributed ledger could be the first big step, with clearing and settlement and even payments to follow.
Fintech comes to a €300 billion a year, core segment of the European primary debt capital markets
Banks are trying to rebrand themselves as technology companies. But even the ones at the forefront of the digital charge are relative laggards
Published December 2016 euromoney.com
The Fed’s white paper on blockchain shows the extent of concerns about instability in the $12.6 trillion-a-day US payments system as it adapts to new technology. It also puts tech providers on warning of bank-like regulation.
Even as some original founders withdraw from the R3 consortium of banks developing blockchain proofs of concept, it opens up what could become a key piece of infrastructure for the future of wholesale financial services.
Published November 2016 euromoney.com
By identifying and managing unconscious behavioural biases, Essentia Analytics aims to help portfolio managers make more money for their clients.
The application of fintech to wholesale banking is, to date, less clear than in retail financial services, where peer-to-peer lenders, start-up remittance companies, crowdfunders and robo-advisers are quickly picking up market share from the incumbents. It is more likely that fintech startups will collaborate with and sell to the incumbents in capital markets than disintermediate them. But they will still transform those markets and the business leaders.
Much of what counts as the modern study of economics consists merely of advanced mathematical modelling of financial markets, and the election of Donald Trump now renders it mostly worthless.
Markets might have sold off on Trump’s win but this is far from anyone’s definition of panic.
ECB’s Praet urges consolidation; conditions not right, says CaixaBank chairman.
Even amid stories of clients cutting exposure to Deutsche over concerns regarding the DoJ investigation, the bank still benefited from rising customer volumes in the third quarter, as did other European banks.
Published October 2016 euromoney.com
As Applied Blockchain and Tallysticks progress with their invoices-on-blockchain project, the prospect of a new form of short-term capital markets funding for companies emerges.
Qumram offers a solution for banks that must be able quickly to reconstruct online discussions with their clients carried out across multiple digital channels.
Krzana aims to give users an edge over rival investors by sucking the rare, important signals that will move markets out of the vast and noisy din of financial news media.
Global banks are in retreat. Some countries stand on the brink of exclusion from the conventional financial system.
Euromoney September 2016
CEO John Cryan had hoped to remove uncertainty overhanging Deutsche Bank’s stock by speeding up the resolution of litigation, but the Department of Justice’s opening claim for $14 billion over RMBS refocuses attention on the bank’s weak capital.
Published September 2016 euromoney.com
For decades the world’s banks followed their multinational corporate customers across borders and built up international networks to finance trade and serve surging capital flows. Now those cross-border flows of traded goods lag even weak global GDP growth. Nationalism is on the rise. The era of the global banks may have already ended with the financial crisis. Is the entire concept of global banking at risk too?
The earnings of the independent investment banks may be far more exposed to any sharp slowdown in M&A activity than rivals with big balance sheets. Even so, the independent business model now looks battle proven, says Lazard’s Kenneth Jacobs.
Euromoney August 2016
The most celebrated fact about Francisco González is that, uniquely among bank CEOs – since May 2015 he has been executive chairman of BBVA – he began his career as a computer programmer.