Euromoney July 1996
In the space of a few years, the Californian boutiques helping high-tech companies come to market have seen their profitable niche invaded by major Wall Street firms. Now banks and investors from across the Atlantic are threatening to get in on the act. But are the Europeans buying into a maturing industry - or a market reaching its top? Michelle Celarier investigates
Euromoney July 1996
Twenty-five year veteran of the capital markets Hans-Joerg Rudloff and his 18-month-old investment bank MC Securities have given up their independence. Rumour had it that it was a consequence of disaster for the bank in Russian markets. Looking deeper, though, it seems more like a victory. Steven Irvine reports
Euromoney July 1996
The London Metal Exchange, the world's top copper exchange, rode out the drama of Yasuo Hamanaka and Sumitomo's losses. But is it crying out for reform, and is it an efficient means of price discovery? Christopher Spink reports
Euromoney July 1996
A handful of the world's top financial institutions have not one regulator but many, spread over diverse products and markets. These regulators, scared by Barings, Daiwa Bank and other disasters, are trying to plug holes in the supervisory net. But it's a tough job to coordinate oversight and to ensure that at least one supervisor has the full picture. David Shirreff reports
Euromoney July 1996
Senior executives tremble when McKinsey and Co comes in to examine a bank - its consultants' fixation with the bottom line is legendary. But is there as much myth as substance to the reputation? Michelle Celarier examines the performance of those high-flyers who've left the consultancy to occupy top positions in banking and the McKinsey philosophy they bring with them.
Euromoney July 1996
Nine months of takeover madness in the Czech Republic has left foreign and minority investors bewildered. Their rights have been ignored frequently by voucher funds trading blocks of shares privately among themselves. Now new regulations are in place to try to curb excesses in the Prague equity market. But their calming effect on one of the wildest emerging markets will at best be limited. Brian Caplen reports
Euromoney July 1996
The Italian market is springing to life. Recent successful high-profile issues and a well-managed privatization programme have whetted investors' appetites. Small and medium-sized companies which have gone to the market have seen spectacular gains. But while Italy's stock market is ready to boom, problems remain with Italy's banking structure and corporate governance. Peter Lee reports
Euromoney July 1996
Securities regulator the CSRC was set up in 1992 to bring order to China's new and frenetic securities markets. But its attempts to impose discipline have met with mixed success. Turf battles with other authorities, political agendas that take precedence over market-based listing criteria and high-profile departures have made the regulator as raucous as the markets it was supposed to tame. Sophie Röell reports
Euromoney July 1996
Liechtenstein's ruler, Prince Hans-Adam, was so sure of the benefits of closer economic ties with the rest of western Europe that he threatened to abdicate if his subjects rejected EEA membership. The principality's bankers and lawyers are more sceptical. Their concern is that limited changes to secrecy laws may deter the high-net-world
Euromoney July 1996
...when it's perfectly transparent, but not very liquid. The rise of electronic trading systems in the forex market has had some unexpected consequences.
Euromoney July 1996
German repo-traders are besieging the Bundesbank with complaints that its minimum-reserve requirement is killing their business. But, asks Laura Covill, will things get any better if the Bundesbank relents?
Euromoney July 1996
While rising oil prices are easing Saudi Arabia's
immediate economic problems - a deep budget deficit and depleted
foreign reserves - the country needs to make structural changes,
cut spending and create new jobs to reduce its dependence on
volatile oil. Norman Peagam looks at the task confronting a new
team of western-educated technocrats
Euromoney July 1996
Euromoney July 1996
Euromoney July 1996
Edited by Steven Irvine
Euromoney July 1996
Edited by Peter Lee
Euromoney July 1996
STEVEN IRVINE
Euromoney July 1996
Edited by Brian Caplen
Euromoney July 1996
Chief executive, Credit Suisse Financial Products
Euromoney July 1996
by David Roche
Euromoney July 1996
When in Rome, don't count your chickens Komarovsky and Ingersoll go surfing and rediscover the lost art of global whingeing JJ Ingersoll, our head of global focus, is talking incessantly about technology because he says "that's where the kids are at". I don't look convinced, so he double-clicks on his mouse, and tells me to watch this. A whole series of windows peel like bananas before my eyes.
Euromoney July 1996
Although the law on what a lead manager can and cannot say about the success of a bond issue is reasonably settled, it still causes banks and, in particular, their compliance officers, difficulties in practice.
By Christopher Stoakes
Euromoney July 1996
The Bankers' Club, 7 Lothbury, London EC2
