May 2003
| Euromoney May 2003 Following last year's surprise jump up the rankings, UBS has now made it to the top of the market share table in Euromoney's annual forex poll. Katie Astbury reports; research by Andrew Newby, Paul Pedzinski and Dave Skallinder. |
Euromoney May 2003
Barclays Capital's CEO, Bob Diamond, talks to Antony Currie about his ambitions for the firm, explains why it is not delving into prop trading and why it won't be hurt by a bursting of the bond market bubble. And he reveals that one of his favourite businesses right now is equities.
Euromoney May 2003
Investors are still piling into US corporate bonds but there’s little sign of improved credit quality to justify this desperate enthusiasm. What’s more, interest rates must rise sooner or later. • Kathryn Tully reports
Euromoney May 2003
CSFB CEO John Mack's resurrection of the dormant role of head of fixed income has triggered a few high-profile departures from the division. But the bank is confident this is just a short-term issue, and its top executives have taken advantage of these departures to start pushing through changes to the organization that they hope will increase its deal flow. ? Antony Currie reports
Euromoney May 2003
The president of the Philippines, Gloria Macapagal Arroyo, speaks to Euromoney's Asia editor Chris Cockerill about the state of the economy, the battle against corruption and the future of the country after her term of office finishes.
Euromoney May 2003
In a period when panics have outweighed optimism among investors, the Sars epidemic is just the latest in a series of shocks that have cast doubt on Asian companies’ ADR prospects. • Chris Cockerill reports
Euromoney May 2003
Investment banks are eager to do debt deals involving derivatives with Italian local authorities. Such a high level of competition is good news for the borrowers but they are also facing closer regulation of their use of innovative structures. • Jennifer Morris reports
Euromoney May 2003
Block trades help to make ECM bankers look busy in quiet times. But their success rests on a knife edge. • Peter Koh reports
Euromoney May 2003
The aftermath of war in Iraq may delay a few project finance deals in the Middle East but the market is in good health. Development diversification will spur large projects. Sponsors, however, may have to accept more costly financing.
Euromoney May 2003
In the past year, fees on emerging-market bonds have plunged from 50 basis points or more to below 10bp. The fee war is taking its toll on emerging-market teams, but is it temporary or permanent? • Julian Evans reports
Euromoney May 2003
Sovereign debt restructuring has been hotly debated for years. Paradoxically, though, two of the elements most fought over – collective action clauses and exit consents – seem now to have been accepted with equanimity. • Felix Salmon reports
Euromoney May 2003
Euromoney May 2003
Euromoney May 2003
Euromoney May 2003
Barclays' appointment of investment banker Bob Diamond as chairman of Barclays Global Investors last summer indicated the group's commitment to fund management. But can BGI, which only contributes a fraction of Barclays' profits, gain the recognition it wants? • Julian Marshall reports
Euromoney May 2003
Euromoney May 2003
Retail investors dismayed by the dire performance of straight equity and bond funds look to be ideal customers for hedge fund products. Some national regulators have recognized this and liberalized marketing rules. But it’s not clear that the sector can sustain mass investment. • Julie Dalla-Costa reports
Euromoney May 2003
When e-enthusiasm cooled, swap trading platforms hadn't got far. Now, though, old ideas are being revived and new ones mooted. ? Tom Marshall reports
Euromoney May 2003
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Euromoney May 2003
Euromoney May 2003
Euromoney May 2003
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Issuer: France Telecom
Size: e16 billion
Bookrunners: ABN Amro Rothschild, Goldman Sachs, BNP Paribas
Euromoney May 2003
Issuer: France Telecom
Size: e16 billion
Bookrunners: ABN Amro Rothschild, Goldman Sachs, BNP Paribas
Euromoney May 2003
Head of EMEA debt capital markets, Banc of America Securities
Euromoney May 2003
UK brokers and fund managers are
confronted bold new plans drawn up by regulator, the Financial Services Authority, to force them to separate trading and non-trading costs when they charge clients. Thomas Williams talks to Christina Sinclair, head of the FSA’s business standards department, about the proposals