May 2010
| Euromoney May 2010 Out of adversity comes opportunity. So thinks Brian Moynihan, Bank of America’s new chief executive. He says that the much-derided Merrill Lynch takeover will seal the firm’s ambition to become the ultimate universal bank. No one doubts the size of the platform. But can Moynihan succeed where Citigroup failed and show that biggest really can be best? Helen Avery and Peter Lee report. |
Euromoney May 2010
Oh the irony. As Euromoney left the executive offices of one of Goldman’s main hubs this week, the image projected on the plasma screen in the elevator could not have been starker. “The world against Goldman Sachs” was the screaming headline of one financial television news channel.
Euromoney May 2010
The SEC fraud suit against Goldman Sachs has shone a spotlight on the exploitation of the useful idiots at the heart of the credit crisis. Goldman must now hope for similar suits against rival dealers so that it can try to deploy the Murder on the Orient Express defence – the argument that they all did it. But whether or not Goldman is joined in the dock by some of its peers, the industry now faces the most serious threat yet to its derivatives-based trading revenues and a business model of adopting multiple roles in the modern capital markets.
Euromoney May 2010
Goldman Sachs must launch a reputational and legal defence; The SEC has almost as much at stake as its target
Euromoney May 2010
The results of this year’s Euromoney FX survey suggest that, rather than cement the dominant position of leading banks, e-commerce could offer firms that have lagged behind the chance to catch up. But they’d better do it soon – rich rewards await those that can secure the largest pools of liquidity. Hamish Risk reports.
Euromoney May 2010
Euromoney May 2010
A proposed merger of the EIB and EBRD has received the endorsement of Michel Camdessus, the former managing director of the IMF, and an advisory EU committee he headed. He speaks exclusively to Nick Lord.
Euromoney May 2010
Both as an attractive, highly profitable business for banks and a provider of increasingly vital services for corporate clients, transaction banking is in the limelight. Euromoney speaks to leading bankers in the sector about market conditions and likely prospects.
Euromoney May 2010
Saudi Arabia’s Jubail oil refinery is one of the biggest and most complex projects ever to be commercially financed. With dollar and local-currency funding, Islamic and conventional tranches, an IPO, an Islamic bond, and multiple export credit agencies, it has demanded a huge amount of work. Dominic O’Neill reports.
Euromoney May 2010
Saudi Arabia’s central bank governor, Mohammed Al Jasser, wants long-term global banks in the Kingdom. Meanwhile he is taking a leading role in developing the GCC’s single currency, as he tells Dominic O’Neill.
Euromoney May 2010
After the turmoil of the past couple of years, many have been surprised by the amount of deal activity. But, having scaled back during the crisis, they’re finding that local rivals are winning more business. Dominic O’Neill reports.
Euromoney May 2010
In the past year Russian aluminium company Rusal has undertaken a big debt restructuring and a record-breaking IPO. Yet controversy stalks its every move. Sudip Roy talks to one of its senior officials about the firm’s future.
Euromoney May 2010
The economy has gone a double-digit economic boom to a double-digit recession. Guy Norton reports on how the embattled Baltic state is coping.
Euromoney May 2010
Lower oil prices and a lack of international finance have given the country the slack it needs to diversify. But will it grab the opportunity or go the way of other resource-rich Asian states? Nick Lord reports from Baku.
Euromoney May 2010
Kosovars feel oppressed by high interest rates and suspect a bank cartel. The banks respond by citing the country’s fragile status as a sovereign, making funding expensive and uncertain. Either way, costly credit is an impediment to growth, and widespread corruption adds its own obstacles. Elliot Wilson reports.
Euromoney May 2010
Garanti’s first place in the CEE companies poll for the second successive year is reflected in its high standing in the capital markets. Other top contenders are similarly favoured. Guy Norton reports.
Euromoney May 2010
Euromoney May 2010
Moscow’s attempt to develop as an important financial centre is at the core of a series of capital markets-friendly legislative changes. Euromoney talks to investors, City of Moscow officials, exchange heads and regulators about progress so far and what is to come.
Euromoney May 2010
Foreign and local investors were hard hit when Kenya’s nascent stock market plunged in the wake of the financial crisis, but recent government efforts to woo them back with simplified regulation and enhanced systems seem to be working. Chloe Hayward reports.
Euromoney May 2010
Goldman Sachs must launch a reputational and legal defence; The SEC has almost as much at stake as its target
Euromoney May 2010
Meissner hired to revive European investment banking; Roles change for Orcel, Moulds and Quigley
Euromoney May 2010
Strong first-quarter results; Government ownership being sold down
Euromoney May 2010
TD Bank expands further into the US banking market; Change in FDIC loss-share means traditional bank M&A could return
Euromoney May 2010
Welcome signs of continuing profit growth; Fixed-income rebuilding fast
Euromoney May 2010
Risks of European sovereign contagion are elevated; Restructuring Greece’s debt could make matters worse
Euromoney May 2010
New funds target mid-market; Funding gap persists
Euromoney May 2010
Disclosure proposals “too onerous”; Market recovery under threat
Euromoney May 2010
Prices outstrip gold this year; China’s industrial demand underpins rises
Euromoney May 2010
Longmore latest senior FX exec to leave; But UK bank continues to build market share
Euromoney May 2010
Euromoney May 2010
Asia investment bank head outlines strategy; Australia first in local build-out plan
Euromoney May 2010
Builds out onshore presence in markets; Focuses on project finance, lending in banking
Euromoney May 2010
Deutsche, Macquarie surprise winners on ABC; Goldman leads while UBS left with work to do
Euromoney May 2010
Some see finance minister as inexperienced; Reforms face tough path through congress
Euromoney May 2010
Central bank boss calm about effects of reconstruction; Funding will come from range of sources
Euromoney May 2010
DR bankers look towards earnings from reconstruction; Others worry about negative domestic effects
Euromoney May 2010
Volatile, opaque market makes for rollercoaster ride; Structural demand/supply levels give grounds for hope
Euromoney May 2010
Fidesz party seeks to expand state spending limits; Analyst warns on dangers of political rhetoric
Euromoney May 2010
Pioneering issue attracts institutional demand; Proceeds to fund gas project
Euromoney May 2010
Benefits from oil, rates, and stock market; Information awaited on financial results and state bad-debt plan
Euromoney May 2010
More flexibility in setting interest rates; Crackdown on non-performing loans
Euromoney May 2010
Investor sentiment towards Estonia improving; Food company to offer welcome diversification
Euromoney May 2010
Turkish exchange to replicate UK’s AIM; Istanbul looks to expand horizons to Russia, Middle East
Euromoney May 2010
Technology and emerging markets will be key battlegrounds in FX but success lies in the size of the liquidity pool.
Euromoney May 2010
Doubts remain over whether the new US legislation properly addresses the structure of the financial system and its many non-bank participants.
Euromoney May 2010
Asian markets are probably the place to be for the next decade or so. But over-enthusiastic expectations cannot yet be fulfilled.
Euromoney May 2010
Bond return shows just how much things have changed since Russia’s default in 1998.
Euromoney May 2010
Emerging market banks should brace themselves for when the coming bubble bursts.
Euromoney May 2010
No matter how much noise the SEC makes about shutting the door, the horse has already bolted.
Euromoney May 2010
Bond exchange reopening should allow sovereign back on to international capital markets – at a price.
Euromoney May 2010
The country is thinking big in technology and finance. But it needs to create a supportive culture first.
Euromoney May 2010
Brian Moynihan is determined to build his big bank, whatever regulators might threaten.
Euromoney May 2010
It certainly appears as if Planet Finance is thriving once again – notwithstanding public hostility, bonus taxes and politicians baying for blood.
Euromoney May 2010
Credit Suisse’s Performance Incentive Plan (PIP) paid out and some lucky bankers became very rich indeed. I’m not talking 'buy a magnum of champagne' rich.
Euromoney May 2010
For the moment, Goldman will no longer be the safe choice or even the first choice for clients.
Euromoney May 2010
As mentioned in a previous column, I am often asked who the market’s rising stars are. So I have decided to feature, from time to time, certain financiers whose careers have momentum and about whom you will hear a lot more in the next few years.
Euromoney May 2010
The SEC fraud suit against Goldman Sachs has shone a spotlight on the exploitation of the useful idiots at the heart of the credit crisis. Goldman must now hope for similar suits against rival dealers so that it can try to deploy the Murder on the Orient Express defence – the argument that they all did it. But whether or not Goldman is joined in the dock by some of its peers, the industry now faces the most serious threat yet to its derivatives-based trading revenues and a business model of adopting multiple roles in the modern capital markets.
Euromoney May 2010
Euromoney May 2010
Burgeoning sovereign debt is a threat to economic recovery, not a way to achieve it. It will crowd out borrowing for more productive purposes and will inevitably foster inflation and possibly defaults.
Euromoney May 2010
The ties that bind sovereign issuers and investors are intricate and complex. With sovereign defaults a real and present danger, they should be untangled before it is too late.
Euromoney May 2010
Oh the irony. As Euromoney left the executive offices of one of Goldman’s main hubs this week, the image projected on the plasma screen in the elevator could not have been starker. “The world against Goldman Sachs” was the screaming headline of one financial television news channel.
Euromoney May 2010
Euromoney May 2010
Just when Bank of America thought it had come through the dark days of 2009 Angela Iannelli and Luke enter the fray. Iannelli, a mortgage client of Bank of America, is suing the bank for stealing her parrot, Luke.
Euromoney May 2010
Euromoney May 2010
Euromoney May 2010
Euromoney May 2010
Euromoney May 2010
Creating opportunity out of crisis; Transaction cost measurement; Regulation and reducing risk;
Algorithmic trading; Arbitrage trading; FX trading moves into the next generation
