August 2004
| Euromoney August 2004 There is no room for nostalgia in the new-look Merrill Lynch. Charles Merrill might have wanted to bring Wall Street to the masses but it is the affluent who command the most attention from his successors. Since 2000, James Gorman has shaken up the private-client business with dramatic results. |
Euromoney August 2004
Euromoney's first financial technology users' survey polled the market to find the software companies that had hit the heights expected of them by an ever more demanding financial services industry. As Jonathan Turton discovered, it's an industry that has never been afraid to get its programming feet wet, but the stakes are getting higher as compliance demands on financial institutions increase.
Euromoney August 2004
Euromoney August 2004
European corporates are making the most of burgeoning demand in the US private placement market. This raises the profile of the asset class but is hampering the development of an equivalent market in Europe and might be prompting banks to oversell issuers.
Euromoney August 2004
Wary investors and a growing equity issuance backlog have spelt disappointment for many of the issuers that have made it to market. IPOs have been particularly hard hit, prompting advisers and bookrunners to devise processes that offer more reliable pricing and greater flexibility.
Euromoney August 2004
Equities order-routing firm Lava Trading prides itself on its independence and neutrality. So why has it agreed to an acquisition by Citigroup?
Euromoney August 2004
The growing problem of pension fund shortfalls and government attempts to cope with them are prompting a cautious approach from private-equity investors, with the UK particularly badly affected.
Euromoney August 2004
With massive capital, some of the finest minds and cutting-edge technology, the bulge-bracket global securities firms offer clients a seamless one-stop service. Despite their dominance, though, cracks in the securities walls they have built remain to be exploited, as Wellington Securities is proving.
Euromoney August 2004
Since Asia's 1997 financial crisis, most Thai financial businesses have been forced to focus on recovery and restructuring. But Asset Plus Securities came through unscathed. Now called Asia Plus Securities, the firm shows what might lie ahead for other Thai financial firms if they can get their houses in order.
Euromoney August 2004
Baillie Gifford exemplifies the traditional image of the cautious but successful Scottish investment manager. But if it wants to leap up to the big league, the partnership might have to consider changes to its structure.
Euromoney August 2004
Euromoney August 2004
The emergence of investable hedge fund indices has provoked a great deal of debate in the hedge fund industry, with extravagant claims being made by both proponents and detractors.
Euromoney August 2004
In part two of our structured credit roundtable, participants discuss the new products and strategies available to investors in the structured credit market. These innovations can be complex to analyze and require new infrastructure and skills to manage effectively. But the bottom line is: no-one can afford to ignore this asset class.
Euromoney August 2004
Despite pockets where problems persist, privatization, consolidation, and improved risk management and regulation are bringing widespread advances in emerging market banking systems.
Euromoney August 2004
Euromoney August 2004
Euromoney August 2004
Euromoney August 2004
In every industry, the vast majority of frauds are committed by the defrauded company’s own staff. But nearly 10 years after the collapse of Baring Brothers, banks have been slow to understand how to manage employee risk.
Euromoney August 2004
Euromoney August 2004
Euromoney August 2004
Euromoney August 2004
Euromoney August 2004
Euromoney August 2004
Euromoney August 2004
Euromoney August 2004
Euromoney August 2004
Euromoney August 2004
Euromoney August 2004
Euromoney August 2004
Euromoney August 2004
Euromoney August 2004
Euromoney August 2004
Euromoney August 2004
Euromoney August 2004
July's global bond offering from the Hong Kong SAR was the first issue since colonial days and the first ever in US dollars
Euromoney August 2004
Rapid growth in the asset-backed commercial paper market has stretched liquidity lines. Sponsors have therefore begun to develop innovative new structures to cope with the problem
Euromoney August 2004
Although many governments will keep pushing loose fiscal policies, capital repricing is inevitable ? probably led by the ECB. That lead should favour the euro and European bonds, at least for a while
Euromoney August 2004
The UK's financial regulator will take a dim view of companies that respond in a legalistic way to its investigations, threatening exemplary sanctions against those that don't cooperate fully.
