December 2009
| Euromoney December 2009 From the ruins of a failed, large investment bank, Vikram Pandit and John Havens are trying to build the foundations of a much better, smaller one. It’s still global in ambition but designed to deal with fewer clients, commit its capital much more thoughtfully and this time in the right businesses. Sceptics either say they’ve heard it all before or question why it took the bank’s leaders so long to reach the obvious conclusion. But the early signs are that it’s working rather well. Peter Lee reports. |
Euromoney December 2009
Assailed on all sides for preparing to pay huge bonuses from a financial market kept alive by systemic government support, Lloyd Blankfein is having to fight Goldman’s corner almost as fiercely as when the crisis was at its worst. He tells Peter Lee that it is not business as usual.
Euromoney December 2009
ING’s European Commission-enforced restructuring is rather different to the continuation of strategy that the bank is trying to claim. Analysts are starting to question the entire premise that banking and insurance can work together. Louise Bowman reports.
Euromoney December 2009
While most have spent the past two years hunkering down, Standard Chartered has used the financial crisis as an opportunity to grow its wholesale business. Sudip Roy asks CEO Peter Sands if this signifies a change in the bank’s culture.
Euromoney December 2009
Standard Bank is cultivating alliances in a strategy of expanding outside South Africa. How worried should competitors such as Standard Chartered be? Dominic O’Neill speaks to Standard’s chief executive and head of investment banking about the bank’s future as a global emerging markets institution.
Euromoney December 2009
Contingent convertible capital could be the new vogue in bank funding. It reforms many of the inadequacies of old-style hybrid debt and ticks all the regulatory boxes. Regulators are throwing their weight behind it, but buyers have yet to be convinced. Hamish Risk reports.
Euromoney December 2009
The debt trading markets are in much better shape than anyone might have thought possible at the start of 2009. They say the time for agency brokers might already have passed. But liquidity remains limited and banks are reluctant to commit capital. Will the recovery continue? Hamish Risk reports.
Euromoney December 2009
The top six firms in terms of market share are all universal banks which have been less impacted by the credit crisis than some of their more wholesale-focused counterparts. The message is clear: balance sheet counts.
Euromoney December 2009
When Lehman Brothers went bankrupt, hedge funds rushed to transfer assets from stricken prime brokers to the safety of custodians. It seemed a new competitor had emerged, but as normality returns can custodians convince hedge funds that they have what it takes? Helen Avery reports.
Euromoney December 2009
A spat between a company controlled by one of Asia’s richest families and a group of well-known western investors is turning ugly. Owners of Red Dragon’s exchangeable bonds have moved to put the company in default. Parent company CP Prima is fighting back hard. As Eric Ellis reports, it’s all part of the bitter cocktail that is Indonesia’s capital markets.
Euromoney December 2009
Macau has plenty to celebrate: gambling revenues are up, conference business is growing and investors have piled into a pair of high-profile IPOs. But the wheel of fortune has its wobbles. Chloe Hayward reports.
Euromoney December 2009
Bond exchange sees strong take-up; Investors had little choice but to buy rights issue
Euromoney December 2009
Business could win from others’ vulnerability; Reputational damage will be tough to repair
Euromoney December 2009
JPMorgan buys outstanding 50% share of UK broker ; Price paid implies each Cazenove banker is worth £3 million
Euromoney December 2009
DSB reawakens depositors to bank risk; Rabo sees less competition from state-supported rivals
Euromoney December 2009
Bankers look forward to big deals in 2010; But some deals are underperforming and being pulled
Euromoney December 2009
DBRS increases market share, expands in Europe; Fitch gains investor approval from re-remics decision
Euromoney December 2009
Caps placed on debt capital markets business; Unlikely to influence RBS revenues
Euromoney December 2009
Insurer skirts close to capital limits; CDS liabilities could rocket
Euromoney December 2009
Leverage concerns suppress loan, bond options; Well-capitalized firms will have pick of best targets
Euromoney December 2009
No money lost on trading, bank says; Uncertainty may hit hiring plans
Euromoney December 2009
Business model new to market; So valuation remains uncertain
Euromoney December 2009
Euromoney December 2009
Euromoney December 2009
Euromoney December 2009
Euromoney December 2009
Euromoney December 2009
Investors furious at failures of Isda committee; Credibility of CDS market in Japan is at stake
Euromoney December 2009
Government likely to miss 2012 goal by $100 billion; Land acquisition is biggest constraint
Euromoney December 2009
Reluctant investors under pressure to buy, while bookrunners await fee bonanza; Analysts say extra capital will not solve banks’ inherent problems
Euromoney December 2009
Full merger plans become two subsidiaries; Alliance prevents sale of stake in MS for now
Euromoney December 2009
Focus returns to core investment banking; Bajpai claims synergies from merger
Euromoney December 2009
Capital markets business is booming; But bankers fear pressure of public opinion
Euromoney December 2009
HSBC loses ground; Banamex perplexes rivals
Euromoney December 2009
Bullish outlook on the economy; Credit growth could reach 20%
Euromoney December 2009
More tier 2 issues expected; Capital-raising to support loan growth
Euromoney December 2009
Equities performing well; Brazil looks frothy
Euromoney December 2009
Euromoney December 2009
Two million new customers up for grabs; Boost for credit markets
Euromoney December 2009
CDS holders want say in restructurings; Further credit events likely
Euromoney December 2009
Other financial firms face hard times; Stock market continues to tumble
Euromoney December 2009
First deal since 2007; Car distributor reopens market
Euromoney December 2009
Jordanian firm picks former BankMed head; Shoman remains as chairman
Euromoney December 2009
The Russian government has launched a charm offensive in preparation for the sovereign to return to the international bond markets after an absence of more than a decade.
Euromoney December 2009
Electricity firm without chairman and CEO; Infrastructure investment plans challenged
Euromoney December 2009
Successful issues in debt and equity markets; State sales key to covering budget deficit
Euromoney December 2009
When everyone agrees everything’s alright, we’ve a classic sign of a bubble.
Euromoney December 2009
The US bank’s succession planning is turning into a bad joke. But it still has time to get the punchline right by looking outside for its next leader.
Euromoney December 2009
The Asian state’s leaders should be wary of the impact of international scrutiny on its private banking industry.
Euromoney December 2009
News that the state-owned company has asked for a credit standstill badly damages the emirate’s reputation.
Euromoney December 2009
A glut of IPOs and bank capital demands means treasurers and investors alike need to steer carefully in giddy Asia.
Euromoney December 2009
DDR and Fortress provide a glimmer of hope for commercial real estate.
Euromoney December 2009
The bank’s results reveal the benefits, and not the drawbacks, of mixing retail and wholesale banking.
Euromoney December 2009
The US authorities’ approach to curbing bankers’ remuneration is ill-judged and inequitable.
Euromoney December 2009
Brazil’s government is a victim of its own economic success.
Euromoney December 2009
Euromoney December 2009
"Glamour and football-style pay packages have rarely been a feature of the HSBC landscape. Today, we realize that this is how a well-managed bank conducts itself."
Euromoney December 2009
It’s the year that just keeps giving for fixed-income traders. But the growing intensity of the race to exploit this state-sponsored boom suggests that there will be significant disruption when the FICC festive season ends.
Euromoney December 2009
Ccompensation could become a sore point if 2010 fails to turn into the FICC bonanza many bank heads seem to be expecting.
Euromoney December 2009
The financial crisis might be the making of hedge funds. Institutional investors will change the industry for the better by demanding onshore structures, independent administration and greater transparency. Mainstream financial centres should see this as an opportunity and ditch the fatuous parts of proposed regulation.
Euromoney December 2009
The financial markets rally cannot be maintained because there is no way we can go back to the bubble economy of the past that was gorged by excess leverage. Far from being unwound, this has been sustained by governments.
Euromoney December 2009
Talk to investors in financial stocks for background on profiles of Citi and Goldman Sachs and they assume Euromoney is working up a simple comparison between the biggest loser and the biggest winner in investment banking from the near collapse of the financial system.
Euromoney December 2009
Euromoney December 2009
A new website advertised as the online marketplace for billionaires launched in 2009.
Euromoney December 2009
Euromoney December 2009
Book review: Too big to fail, Andrew Ross Sorkin
Euromoney December 2009
Euromoney December 2009
