January 2017

January 2017

An alternative review of the year 2016

Euromoney January 2017

How best to tell the tale of another extraordinary year for the global banking industry? Perhaps through one of the few concepts that all bankers understand: awards. But not in the traditional sense. Euromoney picks out the key people and the biggest stories that defined 2016. As for the winners? Before they get too excited, perhaps they should take heed of the 'Be careful what you wish for' award...

Outlook 2017

Bond market shoots first, asks questions later

Bond market shoots first, asks questions later

Euromoney December 2016 euromoney.com

The election of Donald Trump prompted a vicious sell-off in global bonds. Investors face the new year with warnings over volatility and inflation ringing in their ears. Will it be as bad as they think?


Asia

Asia banking: Two cultures, one winning formula?

Asia banking: Two cultures, one winning formula?

Euromoney January 2017

Morgan Stanley’s joint venture with MUFG in Japan makes sense on paper, combining international reach with domestic Japanese corporate and retail strength. But cultural differences meant few gave it much of a chance when it was announced. Six years on, it is proving the doubters wrong. How?


Middle East

Middle East: Amer throws the ball into Egyptian banks’ court

Middle East: Amer throws the ball into Egyptian banks’ court

Euromoney January 2017

The Egyptian central bank’s decision to allow the pound to float freely in November caught many bankers in Cairo by surprise. But it was a long-held ambition of governor Tarek Amer, a veteran of Egyptian finance with a reputation as a straight-shooter. Now he needs to show the move heralds a cultural, positive shift for Egypt’s economy.


Banking

Banking: Raiffeisen merger raises more questions than answers

Banking: Raiffeisen merger raises more questions than answers

Euromoney January 2017

The saga of the Austrian Raiffeisen sector’s search for capital will continue this month when shareholders vote on whether to merge its international arm, RBI, with holding company RZB. The current proposal would relieve short-term regulatory pressures, but critics say it fails to address the structural weaknesses of the sector.


Emerging Europe

Emerging Europe – Russia: Unsecured, untied and not a bond in sight

Emerging Europe – Russia: Unsecured, untied and not a bond in sight

Euromoney January 2017

International banks recently put up an unsecured loan for a Russian borrower with a parent on the US sanctions list. Has the loan market for unsanctioned investment-grade Russian borrowers just got broader, deeper and potentially cheaper?


Banking

Huge rights issue at heart of Mustier’s new plan for UniCredit

Huge rights issue at heart of Mustier’s new plan for UniCredit

Euromoney December 2016 euromoney.com

UniCredit CEO Jean-Pierre Mustier has unveiled his new strategic plan for the bank. With a €13 billion rights issue at its centre, he will need to convince shareholders that this time the bank has a real prospect of breaking free of the country's banking troubles


Trade finance

Trade Finance Survey 2017: Tough times in trade finance

Trade Finance Survey 2017: Tough times in trade finance

Euromoney January 2017

The world seems to be turning away from globalization and towards protectionism. Yet despite this challenging environment for trade, the bankers who finance it remain surprisingly upbeat.


Trade Finance Survey 2017: Results index

Euromoney January 2017

Transaction services

Five-Star Cash Managers 2017: When quality not quantity counts in cash management

Five-Star Cash Managers 2017: When quality not quantity counts in cash management

Euromoney January 2017

Scale is important in cash management, but it is not everything. For clients it is the people, the services and the products that count. Often the best-in-class are regional specialists rather than the global giants, as Euromoney’s unique Five-Star Cash Manager analysis shows.


Five-Star Cash Managers 2017: results index

Euromoney January 2017

Which cash managers get our stamp of approval for the quality of their service to clients?

Country risk

Country risk review 2016: Populism is risky

Country risk review 2016: Populism is risky

Euromoney January 2017

Euromoney Country Risk shows global risk rising, as leading economists and political experts revise their views on asset safety.


Data review of the year

Data Review of the Year 2016

Data Review of the Year 2016

Euromoney December 2016 euromoney.com

By: Mark Baker, Louise Bowman, Peter Lee, Dominic O'Neill and Chris Wright


News

Barclays caps stunning year in own-account corporate finance

Barclays caps stunning year in own-account corporate finance

Euromoney December 2016 euromoney.com

The sale of Barclays’ French retail business is another feather in the cap of CEO Jes Staley and his top executive team.


Fed rules insufficient to lure new primary dealers

Euromoney January 2017

Regulatory capital requirement cut to $50 million; not enough smaller firms to fill the void.

Asia: Shenzhen-HK Connect arrives as insurers are pilloried for investment

Euromoney January 2017

New capital flow channel had a limp debut; insurance industry is under the cosh.

Comment

Bond markets: Two cheers for rising rates

Bond markets: Two cheers for rising rates

Euromoney December 2016 euromoney.com

Bond market losses that began in November with the sharp rise of inflation expectations for Donald Trump’s coming presidency continued towards the end of the year.


Italy banking: The ever-recurring nightmare of bailout

Euromoney January 2017

It is time European regulators proposed a BRRD that is fit for purpose.

Portugal’s doubtful Chinese bailout

Euromoney January 2017

Chinese firms are back in the running for control of Portuguese banking. The two sides are more used to doing business now – and the sellers are even more desperate for capital.

Regulation: ECB calls time on lending excess

Euromoney January 2017

Plans to mirror US leverage limits could hit banks’ market share in Europe.

Asia banking: Are China’s JVs worth the effort?

Euromoney January 2017

The long-awaited tie-up between HSBC and Shenzhen Qianhai Financial Holdings still seems to be nowhere in sight.

Columns

Fintech: Banks are just at the start of their digital journey

Fintech: Banks are just at the start of their digital journey

Euromoney December 2016 euromoney.com

Banks are trying to rebrand themselves as technology companies. But even the ones at the forefront of the digital charge are relative laggards


21st-century Keynesianism? Get real

Euromoney January 2017

UK and US economic policy has changed tone since last year’s electoral rebellions. Markets should jump at the chance to buy into higher-yielding real assets, but politicians will struggle to make reality match their rhetoric on infrastructure investment

Regulate, or innovate?

Euromoney January 2017

Banking regulators have a remarkable ability to stop innovation in its tracks. But when they work in favour of the industry, amazing things can happen.

Impact of Brexit on the City is as much about logistics as logic

Euromoney January 2017

The question of banks moving to the mainland after Brexit will be settled at the dining table.

Leissner’s loss is not necessarily Goldman’s gain

Euromoney January 2017

Singapore’s investigations into the 1MDB scandal continue to claim more big-name scalps.

Macaskill on markets: Making Markets Great Again in 2017

Euromoney January 2017

Jon 'Mystic Mac' Macaskill takes a look at the year ahead in banking and trading

Between Standing Rock and a hard place

Euromoney January 2017

Big banks are finding it tough to be consistent around environmental standards. They need to try harder to address the conflicts and inconsistencies.

Front end

China: AIIB’s clouded outlook

China: AIIB’s clouded outlook

Euromoney January 2017

Beijing's pollution a problem for staff moves.


Goldman Sachs: Gary Cohn has left the building

Euromoney January 2017

Gary Cohn, president and COO of Goldman Sachs, was poised to join president-elect Trump’s new administration at the end of last year, having been appointed director of the National Economic Council.

Quotes of the year 2016

Euromoney January 2017

Off the record 2016

Euromoney January 2017