July 2004
| Euromoney July 2004 The annual Euromoney Awards for Excellence are a crucial benchmark of the global banking industry. Now in their 13th year, the awards recognize the finest banks across the world in a range of disciplines, including debt, M&A, equity, cash management and much more. |
Euromoney July 2004
Last month, Euromoney reported on the challenges facing CSFB CEO John Mack in rebuilding the firm's global investment banking franchise after three years' cost-cutting and damage limitation. Other banks' earnings and share prices had powered ahead. Mack had unveiled plans to double profits in three years. He won't be around to see them through. Late last month he was pushed out. What happened?
Euromoney July 2004
Issuers want to take advantage of tight spreads but are afraid of building up spare cash. Banks are touting new pre-hedging derivatives solutions for those reluctant to issue. Should companies take trading views on their own credit?
Euromoney July 2004
Banks with excess liquidity are desperate to lend but companies in Europe feel no compelling need to borrow. That's tough for pure commercial banks faced with razor-thin fees. Lenders are praying for an M&A revival soon. More worrying in the long term than declining margins may be weaker credit standards.
Euromoney July 2004
The development of instruments that match investors' views on defaults, recovery rates and correlations with leverage and return targets represents a fundamental change in fixed-income investing. However, to take advantage of these opportunities, investors need new infrastructure and new risk-management skills.
Euromoney July 2004
Can the traditionally close relationship between private banks and hedge funds survive growing inflows of new money from institutional investors with huge volumes of funds to allocate and a less agile investment process?
Euromoney July 2004
Private bankers in Spain and Portugal are working hard to tap a rapidly increasing group of high-net-worth individuals. In an undeveloped market, foreign banks are fighting over the spoils with local commercial banks that already have strong customer bases and a few local private banks. Clients can expect great personal service, if not the best advice and products.
Euromoney July 2004
Stable but low-growth companies that would once have had difficulty exciting the interest of investors could get higher valuations through new high-yield IPO structures. The pipeline of deals shows that vendors and issuers are keen to exploit the opportunity.
Euromoney July 2004
Business travel management companies now have an impressive array of high-tech tools to enable them to meet their customers' needs. But they must always bear in mind that those customers often require the personal touch and are eager to have cut-price options built into the offering.
Euromoney July 2004
Euromoney July 2004
Euromoney July 2004
Euromoney July 2004
Euromoney July 2004
Euromoney July 2004
Euromoney July 2004
Euromoney July 2004
Euromoney July 2004
Euromoney July 2004
Euromoney July 2004
Euromoney July 2004
Euromoney July 2004
Euromoney July 2004
Euromoney July 2004
Euromoney July 2004
Euromoney July 2004
Euromoney July 2004
Euromoney July 2004
Euromoney July 2004
Euromoney July 2004
Pan-African coverage moves closer for Celtel with a deal that raises the possibility of further debt financing.
Euromoney July 2004
Managed CDOs push structured credit technology in new directions as investors look for enhanced yield.
Euromoney July 2004
Is an oil disaster just around the corner? Barring political upheaval in the Middle East, which will not come right away, probably not. Rather, look toward benefits from falling oil prices by the year-end.
Euromoney July 2004
Euromoney July 2004
Euromoney July 2004
The Swiss stock exchange hopes to steal business from rivals in EU countries by offering favourable listing rules.