April 2010
| Euromoney April 2010 Every global investment bank thinks Asia will be the growth market over the next decade. But they each have very different ways of trying to exploit the opportunity. Getting the strategy right will be crucial. So which countries and products are vital to success? And which banks have the best platforms to build on? |
Euromoney April 2010
HSBC’s global banking and markets division has netted profits of $20 billion over the past three years. So much for those who say it can’t do investment banking. Clients, even in equity capital markets, are turning to HSBC. The challenge facing Stuart Gulliver and his team is to maintain the momentum.
Euromoney April 2010
Royal Bank of Canada had a great crisis, and it’s thriving through the recovery as well. It has established its position as one of the biggest, as well as best-run, banks in the world. But its new prominence brings added pressure and responsibility to RBC’s long-serving chief executive, Gordon Nixon. He spoke to Clive Horwood.
Euromoney April 2010
The deployment of China’s 2008/09 economic stimulus package ignored the mistakes made in the country’s previous attempts to revitalize the market. Local authorities were flooded with cash, prompting reckless investment decisions. The dimensions of the folly are as yet unclear. Elliot Wilson reports.
Euromoney April 2010
Over the past two years the US custodian has lost money and reputation. The search is on for new fee revenue to support the industry colossus that the bank has become.
Euromoney April 2010
The financial crisis has drastically reduced the revenue streams upon which many custodians have based their businesses. Unless they can be replaced, custody will become far more expensive for all concerned. By Louise Bowman.
Euromoney April 2010
As the USA grapples with its oversized debt, attention is focusing on one resource the nation has in abundance: infrastructure. Could the crisis kick-start the development of what might be one of the biggest ever monetization exercises? Nick Lord reports.
Euromoney April 2010
Covered bonds have always been viewed as a funding tool to supplement the securitization market, but while RMBS new issuance remains patchy there are signs that the market is gaining traction and going global. Could this be at a tipping point? Hamish Risk reports.
Euromoney April 2010
The competition for debt capital market share in Asia is fiercer than for years. Hungry new franchises are using their balance sheets and aggressive pricing promises to win deals. The region’s top equity houses are bulking up their debt offerings and traditional powerhouses are back in force. Lawrence White reports.
Euromoney April 2010
At a time when others have retrenched and reshaped, ANZ stands out for the brassiness of its ambition. Can it match its words with delivery, asks Chris Wright.
Euromoney April 2010
The proposed sale of Taiwan’s second-largest life insurer to two firms with reported links to the mainland is causing consternation in Taipei. Is this cross-strait paranoia or are locals right to be worried? Elliot Wilson investigates.
Euromoney April 2010
Taiwan’s banks are among Asia’s most unprofitable. They have for years searched for ways to grow. Improved relations with China offer the promise of entry into a hugely profitable new market, but it won’t be easy. Lawrence White reports.
Euromoney April 2010
Touted as the next Bric country, Indonesia has avoided the worst of the financial crisis and its economy is powering ahead – but is that despite or because of a vacancy at the head of the country’s central bank? Eric Ellis investigates.
Euromoney April 2010
Shariah banking is becoming big business in Southeast Asia, with Kuala Lumpur and Jakarta battling for the title of regional Islamic finance centre. But even the most optimistic bankers fear further expansion could be stymied by arcane regulation and lack of cross-border consensus. Eric Ellis reports.
Euromoney April 2010
Through crisis after crisis, Riad Salamé has managed Lebanon’s finances. A new government with big plans will benefit from his prudent policies and his continued firm hand on the tiller. But even the veteran central bank governor is excited by what’s happening in his country. Clive Horwood reports from Beirut.
Euromoney April 2010
Inward investment is rising, government debt ratios are falling, and a government of national unity has ambitious plans to revitalize Lebanon’s economy. Bankers and politicians alike want to capitalize on what could be an unprecedented opportunity to transform Lebanon’s fortunes.
Euromoney April 2010
Central bank governor, Rasheed Al-Maraj, has successfully navigated his country’s banking industry through the financial crisis. But headwinds persist, not least the potential for further asset-quality deterioration. He speaks to Sudip Roy about Bahrain’s financial prospects.
Euromoney April 2010
Supply-chain finance has been the big hit of the crisis for transaction banks. The product was pushed over the past decade without any big success and has now taken off as working capital has become crucial to companies’ survival and buyers have recognized the fragility of their supply chains. Can market growth be sustained? Laurence Neville reports.
Euromoney April 2010
Departures and reshuffles indicate poor strategic planning; Former Lehman employees frustrated by lack of traction
Euromoney April 2010
UK firm considers FDIC route; Foreign banks step up presence in US
Euromoney April 2010
Regulators will be delighted to see debt investors accept capital risk; Other bank issuers remain unconvinced
Euromoney April 2010
Rivals question strategy; Institutional trading gains traction
Euromoney April 2010
Canadian bank to hire slew of new managing directors; Focus will be on ECM and M&A in Europe
Euromoney April 2010
Regulators express shorting reservations; Industry participants say “cause and effect” not established
Euromoney April 2010
Salaries at banks too high to compete; Two mid-sized brokers suffer scandals
Euromoney April 2010
First true post-crisis deal; US buyers boost demand
Euromoney April 2010
EM investors buy Greek debt; Technical constraints limit flows
Euromoney April 2010
Leveraged loan rally makes new issuance viable again
Euromoney April 2010
Euromoney April 2010
Internet firm hires Bloomberg FX head; may look beyond data and analytics
Euromoney April 2010
Euromoney April 2010
Sells retail, focuses on investment banking; Regional chairman McCormick bullish on prospects
Euromoney April 2010
Remaining Asia i-bank head lacks experience in region; Citi hopes to make hay in M&A with new hire
Euromoney April 2010
Big firms rush to boost headcount; UBS, BofA seen as most aggressive hirers
Euromoney April 2010
Global firms invest in Brazil; Infrastructure offers best opportunity
Euromoney April 2010
FDI forecast to hit $10 billion; Election unlikely to change economic policy
Euromoney April 2010
New governor awaits senate approval; Government determined to settle with bond holdouts
Euromoney April 2010
Limitless might have hurried restructuring; Doubts remain on second conglomerate
Euromoney April 2010
Bank chiefs deny overwhelming problems; Merger aimed to create stronger institution
Euromoney April 2010
Euromoney April 2010
Strong momentum behind Russian stocks; Increased interest in Bric economy plays
Euromoney April 2010
Yanukovich victory boosts ratings; Capital markets rally on results
Euromoney April 2010
William Weaver to head Citi’s DCM team; Ulrik Ross gets bigger role at HSBC
Euromoney April 2010
Kazakh interests in oil and gas sector to be strengthened; ‘Friends & family’ theme receives another boost
Euromoney April 2010
Electricity price rise adds to budgetary burdens; Might hit those least able to afford increases
Euromoney April 2010
The collapse in the company’s share price should be a warning to any bank contemplating a transformational deal.
Euromoney April 2010
The ECB’s reprieve doesn’t solve the underlying problems surrounding European government debt.
Euromoney April 2010
Signs emerge that Beijing is starting to soften its stance against the use of derivatives.
Euromoney April 2010
Regulators’ clampdowns on financial malpractice may cause a retreat from market participation.
Euromoney April 2010
Seizure highlights lack of clarity over what constitutes a default.
Euromoney April 2010
It is a perfect time for GE to sell its stake in Garanti, but finding the right buyer will not be easy.
Euromoney April 2010
It is no longer forbidden to mention exit from the monetary union.
Euromoney April 2010
There is often a transaction that defines a period. It’s the financial equivalent of remembering where you were when Princess Diana died or John F Kennedy was shot.
Euromoney April 2010
The Lehman bankruptcy examiner’s report provides a timely reminder of how difficult it is for outsiders to gauge the risk management culture at an investment bank.
Euromoney April 2010
Investment bankers frequently boast that their employer has a unique culture. There is a shared sense of purpose and responsibility for decision-making, normally allied with a common understanding of risk and the best way to pursue manageable growth. Often these cultural values are made explicit with a formal "One Firm" policy.
Euromoney April 2010
Piling on public-sector leverage in an attempt to cure a recession that was itself caused by excessive private-sector leverage makes no sense. It might even create stagnation.
Euromoney April 2010
Defined benefit pensions are rapidly being supplanted by defined contribution plans, especially in the UK and US. However, it is increasingly clear that many DC schemes are not fit for purpose.
Euromoney April 2010
A lunch with the chief executive of one of the leading universal banks in Europe gives a clear insight into what it means to head a bank in 2010.
Euromoney April 2010
"go with BarCap, ditch StanChart and whatever you do don’t tell the media, mate!"
Euromoney April 2010
When Goldman Sachs chief economist Jim O’Neill decided to share his views with the wider world on Manchester United’s recent £500 million bond issue the result was pretty predictable.
Euromoney April 2010
Last month a former limousine driver who became the president of a hedge fund pleaded guilty to fraud and is expected to be sentenced to five years’ imprisonment for cheating investors out of nearly $20 million.
Euromoney April 2010
Euromoney April 2010
Michael Lewis has been promoting his latest blockbuster, The big short, a non-fictional yarn about the sub-prime crisis and meltdown on Wall Street.
Euromoney April 2010
Euromoney April 2010
