July 2000
| Euromoney July 2000 This year's awards for excellence are a final farewell to domestic banking. Definitions of domestic or foreign have acknowledged that while local banks may have the best retail and local currency wholesale operations in a country, foreign institutions, with a handful of branches, often offer the best in cross-border financing and transaction services. Consolidation will ensure this year will be the last in which this distinction has any meaning. By Simon Brady. - Awards for Excellence 2000: The end of the world as we know it
Local banks are now in foreign hands. Farewell to the domestic bank! Deutsche Bank has transformed itself. Morgan Stanley Dean Witter builds on its successful franchise. BSCH flies the flag for the Spanish.
Ben Beasley-Murray, Simon Brady, Brian Caplen, Chris Cockerill, Antony Currie, Anja Helk, Peter Lee, Julian Marshall, David Shirreff.
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Euromoney July 2000
South Africa has had its share of wars, protests and punch-ups: Boer against Brit, black against white and black against black. But a scrummage between white-collar corporations was something new. Starting last September a war of attrition involving some of the country’s most influential power brokers dominated the banking sector. The issue: should two successful South African banks, Standard Bank Investment Corporation (Stanbic) and Nedcor, follow the global fashion and merge – or were they already an optimal size? One said they were, the other said they weren’t. A bewildered finance minister ended up making the decision for them. This June, he pulled the fighting packs apart. Chris Cockerill reports
Euromoney July 2000
Last year it was equities. Last winter it was bonds. Now this summer foreign exchange, by far the largest market, finally embraces e-commerce. Single-dealer platforms will still be needed, but might only account for 25% of the volume. The seven-bank consortium behind FXall.com has grabbed all the headlines this month, but it is already a year or more behind two independent ventures, and years behind State Street’s FX Connect, which since April has allowed other dealers on to the system. Why has it taken so long for forex bankers to accept the multi-bank approach, and what are the consequences of leaving it this late? Antony Currie investigates
Euromoney July 2000
Latin America has the world's fastest-growing population of internet users. Growing nearly as fast are the internet companies feeding that demand and, on the back of that, venture capital and private equity firms trying to get in on the ground floor. Mark Piper reports
Euromoney July 2000
At the start of 2000, many banks trumpeted their ability to distribute new bond issues online, fearful of being left behind by eager issuers. At the same time their trading sides announced, often with great fanfare, their own new internet-based trading sites and new multi-dealer platforms put together among consortia of banks. Since then, banks have struggled to deliver on these systems and to integrate them properly. Some now think the internet will merely make the existing market model more efficient, not overthrow it. But a few still hanker for revolutionary change in the bond market. Peter Lee reports
Euromoney July 2000
With the euro and Y2K safely hurdled, the securities industry is sizing up straight through processing as the next obstacle to creating a more efficient global market. The unification of exchanges and clearing and settlement platforms, which should enable this to happen, remains stymied by political manoeuvring. But market forces, aided by technological advances are set to force change. While the front offices of investment managers have been eagerly seizing the distribution opportunities presented by the internet, their back offices have plenty of catching up to do. Those that rise to the challenge will pull ahead of the pack. Julian Marshall reports
Euromoney July 2000
This is not an adaptation of Rossini’s opera Il turco in Italia. Rather it is an attempt by three Turkish bureaucrats to find sustenance – outside their own country – for their ambitious economic programme. Turkey’s central bank governor, treasury under-secretary, and stock exchange chief, roadshow their country to investors in western Europe. They are later joined in London by privatization boss Ugur Bayar. Metin Munir goes along for the ride
Euromoney July 2000
Euromoney July 2000
Euromoney July 2000
Euromoney July 2000
Euromoney July 2000
Euromoney July 2000
Euromoney July 2000
Euromoney July 2000
Euromoney July 2000
Euromoney July 2000
Euromoney July 2000
Euromoney July 2000
Euromoney July 2000
Euromoney July 2000
Euromoney July 2000
Powerful international task forces charged
by G7 governments with fighting money laundering have long pressured banks into
taking responsibility for the activities of
their customers. Now lawyers may come
under the same kind of scrutiny
By Nigel Page
Euromoney July 2000
Managing director, nCoTec
Euromoney July 2000
Managing partner, European Digital Partners
Euromoney July 2000
President, Island
