October 2005
| Euromoney October 2005 Wachovia's Ken Thompson wants his firm to be the best financial institution in the US. His ambitions extend to investment banking. As Wachovia makes its move on Wall Street, Kathryn Tully spoke to Thompson and the rest of his management team. Should the traditional bulge bracket be concerned? |
Euromoney October 2005
Convertible arbitrage and short-selling have been the cornerstones of hedge fund strategies. Competition and difficult underlying markets, however, are forcing managers to reconsider their game plans.
Euromoney October 2005
There's plenty of capital available to borrowers at attractive prices. But the headline numbers mask the complex dynamics at work.
Euromoney October 2005
Chairman Raymond Baer describes Julius Baer's deal as truly transformational. A rising stock price suggests investors agree. Analysts identify the private bank, after the purchase of SBC Wealth Management, as the outstanding restructuring story in European banking. But this deal wasn't what the market expected.
Euromoney October 2005
Citigroup and HSBC are neck and neck at the pinnacle of the cash management business, according to Euromoney's latest poll. Other firms trail far behind.
Euromoney October 2005
Sustained competition, falling margins and regulatory pressures mean that the world of cash management and payments is heading towards an inflection point. The EU's Single Euro Payments Area project is adding yet more fuel to the fire that will force banks to re-evaluate their strategies, writes Peter Koh.
Euromoney October 2005
With a growing retail DVD business, MGM needed a revamped cash management system to make the most of the cashflows. In the end the system's highly successful implementation might well have also increased the company's attractiveness as an acquisition target.
Euromoney October 2005
Companies from emerging markets are on the acquisition trail, and their targets now include firms in North America and Europe. Sudip Roy reports on a trend that could be the biggest driver of global M&A transactions within the next few years.
Euromoney October 2005
Steps along the right path
Euromoney October 2005
After three years of heavy losses, Argentina's banks are once again in the black. The sustainability of their recovery, though, depends on expanded lending to the private sector and greater duration for their liabilities. Sudip Roy reports.
Euromoney October 2005
At the IMF/WB meetings the great and the good of the international bond markets gathered to sell their wares to sovereign and supranational issuers. These potential clients remain some of the trophy issuers in debt capital markets, but they are not the kings of issuers they once were.
Euromoney October 2005
Euromoney October 2005
Euromoney October 2005
Euromoney October 2005
Euromoney October 2005
Euromoney October 2005
Euromoney October 2005
Euromoney October 2005
The asset class is likely to outperform emerging-market debt as more funds enter the market.
Euromoney October 2005
The clubby world of private banking is under threat. The UBS/Julius Baer deal shows how tough it will be for
foreign banks to break into the market.
Euromoney October 2005
A long-only fund run by traditional asset manager bears little resemblance to the long-only fund run by a hedge fund.
Euromoney October 2005
Competition in clearing and settlement doesn't work. The US shows that only a centralized clearing system can promote vigorous exchange competition.
Euromoney October 2005
The Special Administrative Region's regulator has botched its attempt to clean up the thorny issue of pre-deal research.
Euromoney October 2005
Chancellor Brown is breaking the rules he set for himself when prudence is ditched for unfettered spending.
Euromoney October 2005
Hurricane Katrina has wreaked havoc in numerous ways but insurance companies appear well positioned to deal with the single largest event in the industry's history.
Euromoney October 2005
Covered bond issuers are increasingly clear about the merits of solid execution, as Santander's and DexMa's latest deals show.
Euromoney October 2005
In recent months several European central banks have started to diversify their portfolios, having traditionally bought only government debt. Leading fund managers are in the frame to manage credit portfolios of central bank reserves.
Euromoney October 2005
Do value-driven debt providers have a role to play in LBO financing? Private-equity borrowers appear increasingly cautious about including hedge funds in leveraged finance syndicates.
Euromoney October 2005
Hybrid debt issuance continues to be the main focus for the European corporate bond market.
Euromoney October 2005
Questions remain over how best to price ultra long-dated linkers and the role of hedge funds.
Euromoney October 2005
Euromoney October 2005
But liquidity – as yet limited to indices – has still to take off on single names.
Euromoney October 2005
Dutch law MTN programme enables simpler structure.
Euromoney October 2005
A new borrower is using securitization technology to help save lives.
Euromoney October 2005
Euromoney October 2005
Platform's embarrassing slowdowns are specific not systemic, company says.
Euromoney October 2005
After a failed foray into treasuries, Eurex US is now pinning its business development plans on currency futures.
Euromoney October 2005
The 2012 London Olympics are likely to go over budget because of FX risk
Euromoney October 2005
Euromoney October 2005
Big bank players back electronic developments from a regional exchange.
Euromoney October 2005
But owner banks should be cautious about the effects of a spin-off.
Euromoney October 2005
Optimism about Japanese economy and stock market is gaining strength.
Euromoney October 2005
Euromoney October 2005
Euromoney October 2005
Flotation of the UK fund manager still only one of several strategies being considered.
Euromoney October 2005
The credit derivatives market has expanded fast in recent months. But the growing backlog of unconfirmed trades has caused concern.
Euromoney October 2005
Euromoney October 2005
Legislation is less than two years old but demand for alternative investments seems to be picking up at last.
Euromoney October 2005
Will European fund managers be exempted from value-added tax on their outsourced management services?
Euromoney October 2005
Euromoney October 2005
Banks are muscling in on US auto finance as vehicle makers divert capital to manufacturing and marketing.
Euromoney October 2005
Distressed companies and their creditors look to advisory boutique to "bring calm to apparent cataclysms".
Euromoney October 2005
Private-equity combos turn to ABS market on second biggest ever buyout deal.
Euromoney October 2005
Euromoney October 2005
Continued fuel subsidies will make it difficult to cope with rising oil prices.
Euromoney October 2005
Investment by foreign banks and investors in domestic Chinese banks is not over, but it seems that the recent frenzy of activity has abated, with most of the big deals now signed or at least agreed.
Euromoney October 2005
Euromoney October 2005
Tourism, travel and manufacturing are the targets of investment worth up to HK$15 billion.
Euromoney October 2005
Euromoney October 2005
Euromoney October 2005
Euromoney October 2005
World Bank report calls for public-private partnerships to help the region match the pace of Asia's development.
Euromoney October 2005
Lead manages Guatemalan bank securitization deal.
Euromoney October 2005
Sovereign also issues first global deal denominated in local currency.
Euromoney October 2005
There has been a quantum leap in the economic literacy of the presidents in the region
Euromoney October 2005
Euromoney October 2005
Stalled state sell-off is finally yielding impressive results.
Euromoney October 2005
The UAE's financial regulator, the Securities and Commodities Authority, announced on September 6 that the case of two individuals and a brokerage suspected of manipulating the stock price of Dubai Islamic Bank (DIB) had been referred to the judiciary.
Euromoney October 2005
The Lebanese government is believed to be considering a $500 million international bond issue to cover debt payments reaching maturity.
Euromoney October 2005
Euromoney October 2005
Part of an increasingly active market attracting foreign investors.
Euromoney October 2005
Rating agency Fitch has released its latest assessment of when the 10 countries that joined the EU in 2004 are likely to join the European exchange rate mechanism (ERM) II and adopt the euro. Its findings are not particularly encouraging.
Euromoney October 2005
A punctured US property bubble is not far down the line as inflationary pressures mount. When it comes, as treasury yields inevitably move up, the US economy will slow sharply
Euromoney October 2005
Wreathed in a thick summer smog, it seems that Kuala Lumpur is not so much what tourist ads call "truly Asia" as "truly hazier". But the decision to publish air pollution data – previously a state secret – is at least a signal that Malaysia's politics are becoming clearer.