Regulation puts global banking in peril

Regulation puts global banking in peril

Don’t believe the G20 hype

Regulation

Regulation

The battle to sketch the new face of global banking

February 2015

February 2015

The loan market fights back

Euromoney February 2015

Europe’s great disintermediation is stalling. Yield-hungry institutional investors are driving demand for loans at the riskier end of the credit spectrum. Banks, pumped with ECB-printed liquidity and desperate to put their capital to work, are getting off the fence. It could be music to Mario Draghi’s ears. But is a sudden turn away from the bond markets, at increasingly aggressive lending rates, what Europe really needs?

Private banking

Private Banking and Wealth Management Survey 2015: US leaders march  on Swiss banks’ global territory

Private Banking and Wealth Management Survey 2015: US leaders march on Swiss banks’ global territory

Euromoney February 2015

The playing field in private banking has levelled out and the US banks committed to a global business now compete on even terms with the Swiss. From here on it will be technology and superior asset allocation advice that determine the winners.


Private banking CIOs prepare for year of uncertainty and risk

Euromoney February 2015

The job of the CIO, now intrinsic to wealth management, has become more challenging. Not only for the visibility of the calls they make, but because central banks seem to shift policy on a dime while geopolitical risk appears to be increasing. Euromoney interviews 10 CIOs of leading global private banks.

Private banking in Asia: Breaking borders

Euromoney February 2015

Local private banks in Asia are starting to make inroads into the top end of the business, but most are still struggling to build a regional presence.

Private banking in Latin America: Brazil reverts to type

Euromoney February 2015

The private banking industry in Latin America had a difficult 12 months as wealth creation slowed throughout the region. The picture for the year ahead looks brighter for some countries, but Brazil remains the dominant market and its prospects are still murky.

Private banking in Africa: Winning over the continent's wealthy

Euromoney February 2015

The slow and steady rise of high net-worth individuals across Africa has piqued the interest of wealth managers. But who has the upper hand – regional players close to their clients, or global names with solid reputations?

Private Banking Survey

Private Banking and Wealth Management Survey 2015: Results index

Private Banking and Wealth Management Survey 2015: Results index

Euromoney February 2015


Private banking CEO of the year 2015: JPMorgan's Di Iorio

Euromoney February 2015

Known for his dedication and leadership style, Phil Di Iorio has taken JPMorgan Private Bank to the top of the rankings and is Euromoney’s top private banking CEO of the year.

Santander

Santander: Ana Botín’s whirlwind start

Santander: Ana Botín’s whirlwind start

Euromoney February 2015

Ana Botín has revamped the board of Santander, appointed a new management team and overseen a large and market-testing equity raise that reverses the capital-light policy of her father. Four months into the job, the new executive chairman now has the biggest challenge of all in her sights: achieving strong growth in a banking sector notable for its almost total absence


Emerging Europe

Mugur Isarescu: Romania’s central figure

Mugur Isarescu: Romania’s central figure

Euromoney February 2015

While finance ministers come and go, one man has been a figure of constancy for the nation’s economy: central banker Mugur Isarescu. He has created a fully functioning central bank in a market economy from the shell of a communist regime. With inflation under control and the exchange rate stable, what is his next challenge?


Africa

Banking since the Arab Spring: Tunisia faces pain before reward

Banking since the Arab Spring: Tunisia faces pain before reward

Euromoney February 2015

The World Bank reports that banks need profound reform; analysts catalogue a long list of problems; and the country’s new cabinet has been roundly rejected by most political parties. Can the new president juggle competing political factions and unblock the economic pipeline to bring badly needed growth quick enough?


Australia

Australia: More questions than answers in the Murray Report

Australia: More questions than answers in the Murray Report

Euromoney February 2015

Everyone was a little nervous at the contents of the first inquiry into the nation’s financial services industry in over 25 years. It isn’t as traumatic as most feared, but it leaves some important issues unanswered.


Trade Finance Survey 2015

Trade finance: RMB expansion catches up with China GDP

Trade finance: RMB expansion catches up with China GDP

Euromoney February 2015

Capital controls have constrained the use of the renminbi in global trade, while China’s real economy has surged ahead. Despite the strict rules around its use, market players are punting on strong RMB growth in 2015, Euromoney’s Trade Finance survey reveals


Trade Finance Survey 2015: Results index

Euromoney February 2015

The survey is designed to give our readers valuable information on the global trade finance market and the opportunity to rank trade finance providers across a selection of service categories and an overall global ranking of providers as rated by their clients.

Latin America

Latin America: Copper-bottomed Chile wrestles with risk

Latin America: Copper-bottomed Chile wrestles with risk

Euromoney February 2015

Tax reforms from Chile’s new, left-leaning government are having an unsettling effect on the economy, which is also suffering from a plummeting copper price. The country’s new president is looking next to tackle inequality with further reforms, but as a result the pressure will ratchet up its strong credit rating.


Banking news

Investment banking: Banks tempted back into SSA market

Investment banking: Banks tempted back into SSA market

Euromoney February 2015

BAML builds up; all eyes on UBS; changing dynamics prove alluring.


Swiss franc unpegging hits private banks

Euromoney February 2015

Julius Baer fares worse than UBS and CS; small private banks’ M&A escape hampered.

Julius Baer worst hit in CHF/EUR unpegging

Euromoney February 2015

Julius Baer to take profits hit due to high CHF cost exposure, say analysts.

Trade finance: Citi grows global commodities as rivals exit

Euromoney February 2015

Buys trading portfolios from Credit Suisse, Deutsche; integration of commodities and banking paying off.

Markets news

Failed ECB asset purchases plan has wrought 'malign impacts' for the market

Failed ECB asset purchases plan has wrought 'malign impacts' for the market

Euromoney January 2015 euromoney.com

The corporate bond market fears crowding out as quantitative easing looms.


Debt capital markets: SNB policy change hits Swiss franc debt issuers

Euromoney February 2015

Central and Eastern Europe most affected; foreign Swiss franc bond issuance is frozen.

Infrastructure funding: Juncker Plan hit by unnecessarily short timeframe

Euromoney February 2015

€315 billion investment over three years; 15 times multiplier of EU and EIB funding.

Asia news

Chinese brokers hungry for assets outside Asia

Chinese brokers hungry for assets outside Asia

Euromoney February 2015

Haitong adds to trend with BESI deal; further opportunistic moves on way.


China: WeBank kicks off mainland online banking battle

Euromoney February 2015

Pioneering WeBank launches; China set to lead industry.

Asia: Anti-graft drive puts Macau in the shade

Euromoney February 2015

Gaming capital stocks fall 41%; gambling revenues down 30%.

Latin America news

Peru: Central bank to boost domestic currency lending

Peru: Central bank to boost domestic currency lending

Euromoney February 2015

Central bank targets dollarized liabilities; banks will need higher reserves for dollars.


Private banking spotlight lands on Mexico

Euromoney February 2015

Busy market set to get more crowded; independent players step up.

DCM: Mexico fills Brazil void in international markets

Euromoney February 2015

Sovereign reopens market; Petrobras saga stymies Brazil.

EEMEA news

Emerging Europe: Swiss franc appreciation hits CEE banks

Emerging Europe: Swiss franc appreciation hits CEE banks

Euromoney February 2015

Politicians urge ‘Hungarian’ solution; Polish, Croatian banks in firing line.


Czechs can avoid Swiss disruption, says governor

Euromoney February 2015

Exchange rate regime set to run into mid-2016; CNB ready to act to prevent market shock.

Turkey: New rules prompt Vakifbank tier-2 move

Euromoney February 2015

Basel III law opens up funding; investors bring $1 billion book.

African Eurobonds suffer as commodity prices slump

Euromoney February 2015

African capital markets have been driven by a boom in Eurobond issue during the past two years, but supply and demand has come under fire after plummeting oil and commodity prices.

Comment

Santander deal raises doubts over ECB stress test

Santander deal raises doubts over ECB stress test

Euromoney February 2015

On January 8, Santander took a volatile equity market by surprise, raising €7.5 billion ($8.9 billion) through an accelerated bookbuild, the largest such deal on record in the European equity capital markets.


Private equity: Render unto Caesar – despite bankruptcy and $18 billion of debt

Euromoney February 2015

How can Caesars Entertainment have an equity value of $2 billion while its bankrupt operating subsidiary owes creditors $18 billion?

Bond market liquidity: Pre-trade info is key for investors

Euromoney February 2015

Bond investors may need to travel down darker paths to cope with reduced secondary market liquidity.

Emerging markets: Weak oil prices, stronger Africa

Euromoney February 2015

The falling oil price has hit oil exporters hard, especially in Africa. But the region has three strengths that should protect its capital markets from the current crisis.

Greek banks – quiet buy or screaming sell?

Euromoney February 2015

Nothing appears more contrarian than going long the Russian rouble and short the Swiss franc. But investing in Greek banks may be up there too.

Columns

Macaskill on markets: Moulds sets out to make Barclays dance again

Macaskill on markets: Moulds sets out to make Barclays dance again

Euromoney January 2015 euromoney.com

New COO Jonathan Moulds will bring a straightforward and sensible approach to the challenges facing Barclays. Will he end up pulling the strings more than CEO Antony Jenkins?


Sideways: Deutsche strategy – Twilight of the bank

Euromoney February 2015

Is Deutsche Bank contemplating a secret Götterdämmerung trade that would hive off sections of its investment bank and offer senior executives an escape route?

Against the tide: The ECB goes for broke

Euromoney February 2015

The eurozone’s economic fortunes should start to recover with the arrival, at last, of full-blown quantitative easing. As the world’s leading currencies are set for a race to the bottom, it could be time to buy gold.

Off message: Standard Chartered’s Sands – Death by a thousand cuts

Euromoney February 2015

Standard Chartered’s PR machine does not seem to be helping turn the bank’s story around at a critical time for CEO Peter Sands.

Front end

Abu Dhabi Santiago Bernabeu: Oiling the wheels of footie

Euromoney February 2015

The news that Abu Dhabi’s International Petroleum Investment Company has secured naming rights to Real Madrid’s home ground – turning it into the Abu Dhabi Santiago Bernabeu – represents an interesting branding exercise. Sovereign wealth funds rarely seek brand recognition: usually quite the reverse.

Heron serves up irresistible dish to Bradesco

Euromoney February 2015

Brazilian bank Bradesco opens its London office on February 9. A small delegation of senior bankers from the bank’s Brazilian headquarters will fly over to mark the occasion.

Red card for Turkish football fans?

Euromoney February 2015

In Euromoney’s December 2014 issue, we described in detail how Bank Asya had become a political football in Turkey. Politics and banking now seem to have combined to create a row in Turkey’s football community as well.

Euromoney behind the Iron Curtain

Euromoney February 2015

We at Euromoney would never claim credit for Romania’s dramatic 25 year shift from the deepest, darkest communism of the Ceausescu era to today’s EU membership and its knocking at the euro’s door, but we’ve been fascinated to learn we’ve had a modest role in its economic transformation.

Off the record

Euromoney February 2015




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