May 2011
| Euromoney May 2011 After a few difficult years, culminating in the resignation of its long-serving chief executive, Italy’s biggest lender is hoping for a fresh start. But plenty of hurdles still need to be overcome if it is ever to reassume its position as one of Europe’s leading banks. Sudip Roy talks to UniCredit’s new management about its recovery plans. |
Euromoney May 2011
Bank chiefs have finally accepted that their hopes of a level regulatory playing field will remain forlorn. US bankers are up in arms about Europe’s treatment of risk-weighted assets. Europe’s banks face a fault line, where they operate internationally but risk being penalized for the relative size of their balance sheets to national GDP. What does the future hold for banks that could be too big for their borders? Peter Lee reports.
Euromoney May 2011
Electronic trading has transformed foreign exchange into a $4 trillion a day flow monster, delivering record revenues to those with scale. But by focusing on building their own internal platforms, banks have left themselves open to attack from the high-frequency traders, who pick them off at will and force them to hold more risk. Now the banks are fighting back. Hamish Risk reports.
Euromoney May 2011
The dominance of the top-three FX banks is being challenged by the chasing pack of dealers. It isn’t just a case of luring clients onto their internal trading platforms. Clients want different things, and multi-dealer exchanges are beginning to prosper. Tom Osborn reports.
Euromoney May 2011
When Euromoney calls to book appointments with the heads of the top 10 FX banks before the results of this year’s poll appear, the typical response from their press officers is: “Can we get back to you, he is travelling in Asia right now.” This tells you all you need to know about growth in the foreign exchange markets, with Asia as its new frontier.
Euromoney May 2011
Euromoney May 2011
African deals are increasing in number but what is the best way for investment banks to get involved? Dominic O’Neill finds out what the key players in Johannesburg, London and Dubai are thinking.
Euromoney May 2011
Africa has much to tempt a growing economy, and China has the money to pay for access to the resources it needs and wants. But it is not the only country with an eye on the continent. Nick Kochan reports.
Euromoney May 2011
Nedbank’s owners are still looking for a buyer, after the failure of a deal for HSBC to buy the South African bank last year.
Euromoney May 2011
The collateralized loan obligation market has been one of the surprise recovery stories of the past year. US managers are reappraising the opportunities it provides. Will the revival continue, and can it catch on in Europe? Joti Mangat reports.
Euromoney May 2011
Power, mining and energy companies dominate Euromoney’s annual survey of the best companies in CEE, but diversity is increasing as markets mature
Euromoney May 2011
Russia’s underdeveloped capital markets are on track for much-needed modernization. However an arcane legal system and entrenched attitudes could yet put a brake on the pace of reform. Lucy Fitzgeorge-Parker reports.
Euromoney May 2011
After decades of neglect, infrastructure in central and eastern Europe is in urgent need of upgrading. Now projects across the region are on hold in the wake of the global downturn. Lucy Fitzgeorge-Parker talks to the public- and private-sector bankers trying to get the market back on its feet.
Euromoney May 2011
The global credit crunch and associated economic downturn hit Kazakhstan hard. But there is growing evidence that the country is back on the path to recovery. Guy Norton reports from Almaty.
Euromoney May 2011
The nation’s gold, coal and iron-ore reserves are making it the world’s fastest-growing investment destination. But a lack of infrastructure funding and planning threatens to derail the country’s rapid transformation. Lawrence White reports from Ulaan Baatar.
Euromoney May 2011
Qatar’s accession to the MSCI Emerging Markets index would open it up to new investment inflows and might prompt a liberalization of other equity markets in the region. Chris Wright reports.
Euromoney May 2011
Five years after Saudi banks saw their investment banking and asset management arms split from their commercial banks, the sector is still finding its feet. Three of the firms that got a head start tell Chris Wright how the battle for market share is likely to play out.
Euromoney May 2011
Strong growth and the government’s debt swap to holdouts have opened the bond markets to the country’s private sector. But October’s presidential election is already stirring uncertainty. Rob Dwyer reports.
Euromoney May 2011
Basle III unpopular with bank bondholders; Regulators insist system will be safer
Euromoney May 2011
Senate committee report might deter clients; Stock price under pressure
Euromoney May 2011
Ernst & Young survey reveals mixed results; Good news on risk governance, liquidity and funding
Euromoney May 2011
Tier 1 ratio or market solvency triggers?; Bankers fear proposal would create volatility
Euromoney May 2011
Geithner supports move; Foreign issuance into dollar market increases
Euromoney May 2011
Hedging hit may spread to other banks; BlackRock findings reinvigorate lawsuit
Euromoney May 2011
Seen as hedge to currency debasement; Integrated FX and metals pricing adds advantage
Euromoney May 2011
European banks benefit from euro introduction; Spurs consolidation of market share
Euromoney May 2011
Australian Treasury stops exchange takeover; Nasdaq, CME possible alternative partners
Euromoney May 2011
Market seen as good value after protracted underperformance and earthquake; But care needed in finding recovery potential
Euromoney May 2011
Reasons for withdrawal not stated; Culmination of agency’s bearishness on sector
Euromoney May 2011
Unilever prices just over 1%; Renminbi IPO in HK meets caution
Euromoney May 2011
Mixed fortunes for IPOs; Credit Suisse maintains dominance
Euromoney May 2011
Extensive retail finance acquisition; Sector still strong despite government curbs
Euromoney May 2011
Universal capital requirements might hinder banks; Investors less concerned about risk
Euromoney May 2011
European banks target Latin America
Euromoney May 2011
CEOs oppose increased reserve ratios; Threats to banks exceeding loan limits
Euromoney May 2011
First Rand in Nigeria acquisition talks; Absa, Barclays Africa in new integration push
Euromoney May 2011
Current account deficit key economic weakness; Government spending promises add to woes
Euromoney May 2011
Euromoney May 2011
Fewer prestige buyouts by state funds; International investors wary of political risk
Euromoney May 2011
Tiny adjustments on inputs can produce big benefits on capital ratios: the temptation to manipulate is obvious.
Euromoney May 2011
The region’s economic growth is healthy but over-reliant on the rest of Europe. Asia beckons.
Euromoney May 2011
The country faces more than a liquidity crisis; a fiscal restructuring of the economy is required.
Euromoney May 2011
The fee hiatus left by Fannie and Freddie will be filled. But not just yet.
Euromoney May 2011
Having spurned AIG’s approach, the New York Fed is under pressure to achieve top dollar.
Euromoney May 2011
South African leadership in African markets is over; but it holds a lesson for the continent.
Euromoney May 2011
Euromoney May 2011
Goldman Sachs cut out trading completely in the first quarter – at least that’s what the language of its earnings filing indicates. The bank managed to avoid using the t-word at any point in its earnings announcement, although it mentioned clients 29 times and made 46 references to investment.
Euromoney May 2011
Strong first-quarter results at UBS might have come just in time to prevent the implosion of its bid to regain a spot at the top table of investment banking.
Euromoney May 2011
The decision by Standard & Poor’s to place the US on credit watch with a “negative outlook” is a watershed. With politicians unwilling to attack spiralling welfare costs, a bond crisis might be just around the corner.
Euromoney May 2011
Continuing political instability in North Africa and the Middle East, together with oil-supply constraints, will increase energy risks and therefore prices.
Euromoney May 2011
Technology has changed the game forever. And it is costing the banks dearly. They are returning to an old idea to defend their corner from the predations of high-frequency traders. The answer to the erosion of business may lie in a trick from the equities market: dark pools. Is PureFX back on the table?
Euromoney May 2011
Euromoney May 2011
The royal wedding was British but New York knows a money-spinner when it sees one.
Euromoney May 2011
Sir Fred Goodwin, ex-chief executive of RBS, who found himself the lightning rod for UK public anger over the financial crisis in 2008, seems to have again served himself up on a plate to the UK media for ridicule.
Euromoney May 2011
For a company that likes to keep its head below the parapet, commodities trader Glencore could not have appointed a more incongruous chairman.
Euromoney May 2011
One of the latest books to be added to the library of publications aimed at dissecting the causes of the financial crisis is "The unravelling of structured investment vehicles: how liquidity leaked through SIVs" by Dr Henry Tabe of Sequoia Investment Management.
Euromoney May 2011
Euromoney May 2011
