February 2017

February 2017

SocGen: Battle-hardened Oudéa sticks to his guns

Euromoney February 2017

Frédéric Oudéa has been CEO of Société Générale for longer than any other current head of a leading European bank. His success in bringing the bank through the financial crisis and its aftermath is widely acknowledged. But can he articulate a convincing vision of SocGen’s future?

Banking

Citi’s own fintech upstart disrupts from the inside

Citi’s own fintech upstart disrupts from the inside

Euromoney January 2017 euromoney.com

Citi's new mobile app is a first crucial step to re-invention. Head of consumer banking, Stephen Bird, tells Euromoney the bank may have only a couple of years to convince customers it is the high-quality, always-connected partner with the services they want.


Private banking

Private Banking Survey 2017: Wealth leaders face a tough balancing act

Private Banking Survey 2017: Wealth leaders face a tough balancing act

Euromoney January 2017 euromoney.com

Rate hikes, regulation, investing in people and technology – the CEOs of the top ranking private banks in the 2017 Euromoney private banking survey discuss how to balance the challenges and the opportunities that lie ahead.


Latin America

How BTG came through the ultimate stress test

How BTG came through the ultimate stress test

Euromoney February 2017

When Brazilian federal police knocked on the door of André Esteves’ Rio de Janeiro home on the morning of November 25, 2015, they were not only arresting one of the country’s most prominent bankers, they were also delivering a hammer blow to his bank, BTG Pactual. There followed a stress test that would threaten the collapse of the bank. Here’s the story of how the partners forged a business model for BTG in the glare of public scrutiny.


Regulation

Regulation: The death of global standards

Regulation: The death of global standards

Euromoney February 2017

Just as concerns grow that central bank monetary policy is under threat of becoming politicized, there are also fears that politics is corroding the objectivity of rule makers, putting the stability of the financial system at risk.


Banking

Banking: Could HSBC finally crack the US?

Banking: Could HSBC finally crack the US?

Euromoney February 2017

Attempts to build a North America business have left egg on the faces of many senior HSBC executives, but now, with two key differentiators – its big balance sheet and global network – it may have figured out how to be an investment bank in the US.


Private banking

Private banking: Smarter, faster ways of giving

Private banking: Smarter, faster ways of giving

Euromoney January 2017 euromoney.com

With humanity’s challenges seemingly more urgent than ever, the world’s wealthiest are trading cheque-book giving for greater engagement. Not only should the world benefit, but so too those banks that help them with their goals. What role can the world’s leading private banks play?


Survey

Euromoney’s Private Banking and Wealth Management Survey 2017: Press release

Euromoney’s Private Banking and Wealth Management Survey 2017: Press release

Euromoney January 2017 euromoney.com

UBS Wealth Management voted best global private bank; new regional winners; private banks less bullish on revenues; non-bank competition a minor concern.


CSR

CSR: The alpha female effect

CSR: The alpha female effect

Euromoney December 2016 euromoney.com

Gender lens investing is on the rise, and with good reason. Not only do companies perform better with greater female representation on their boards, but a multi trillion-dollar wealth transfer to women and millennials means greater investment focus on social issues like diversity.


Emerging Europe

Emerging Europe: The past is not the future for Addiko

Emerging Europe: The past is not the future for Addiko

Euromoney February 2017

When Austria’s Hypo Alpe Adria collapsed after the financial crisis, it left a network of small Balkan banks – private equity firm Advent International has taken up the challenge of turning them into a profitable franchise, rebranded, root-and-branch reformed and under new management. CEO Ulrich Kissing is open-eyed about the challenges Addiko Bank faces.


Asia

CLSA’s Slone Q&A: Rise of Asia’s awkward squad

CLSA’s Slone Q&A: Rise of Asia’s awkward squad

Euromoney February 2017

CLSA has always had a unique position in Asian finance – to its competitors it has been a curiosity, but one secretly admired for its independence. Three years after its purchase by Citic Securities, it’s now the means by which the Chinese brokerage aims to take on the world. Outspoken CEO Jonathan Slone insists the firm will flourish while keeping its identity. Can he make it happen?


Asia

Asia bond markets make strong early running

Asia bond markets make strong early running

Euromoney January 2017 euromoney.com

In sharp contrast to this time last year, Asian issuers have rushed to get deals away while benign conditions last. How long will the Asia DCM boom last?


Middle East

Middle East: The new foreign minister of Investcorp

Middle East: The new foreign minister of Investcorp

Euromoney January 2017 euromoney.com

At the largest private-sector investment firm in the Persian Gulf, the line between business and politics has always been blurred – its well-connected new executive chairman Mohammed bin Mahfoodh Al Ardhi seems a perfect fit for that curious tradition.


News

Banking's transatlantic divide set to grow in 2017

Banking's transatlantic divide set to grow in 2017

Euromoney February 2017

US banks strike positive tone over earnings; Europeans less likely to reap rewards of new volatility.


UniCredit breaches cap ratios after Q4 charges

Euromoney February 2017

Bank warns on AT1 coupon if €13 bln rights issue fails; move highlights importance of capital increase.

French banks pile up to issue TLAC-compliant senior debt

Euromoney February 2017

€9.5 billion issued after Sapin 2 law passed; EC chooses French instrument for harmonized solution.

Fintech labs could be at saturation point

Euromoney February 2017

Fintech labs have been a way for banks to work with start-ups to develop the products and services the incumbents need. With so many banks now taking this same approach, what's the chance of true innovation?

Emerging Europe: KBC bulks up in Bulgaria

Euromoney February 2017

Belgian group wins bidding for NBG subsidiary; further consolidation seen likely in crowded market.

Malaysia chases the big money in Islamic finance

Euromoney February 2017

Shariah savings scheme could be a game-changer; wealth push follows success in sukuk market.

Comment

European v US investment banks: Tectonic shifts

European v US investment banks: Tectonic shifts

Euromoney February 2017

They have tried and mostly failed – European investment banks’ lag to their US peers is a blot on their international prestige and it is structural.


Private equity: The beauty of being Brexit-proof

Euromoney February 2017

It is not only banks that are wearily trying to assess the impact that the UK leaving the EU will have on their businesses – private equity firms are getting increasingly concerned too.

Private banking: The generation game and how to lose it

Euromoney February 2017

The overweight focus on millennials by private banks feels a little desperate.

Bank regulation: The corrosive effects of IFRS 9

Euromoney February 2017

New accounting rules requiring banks to take upfront charges against possible losses through the full life of a loan promise damaging pro-cyclicality.

UK banking: No wish for post-Brexit deregulation

Euromoney February 2017

Bankers in the UK have little if any appetite to row back on a decade of regulation they are just about getting used to.

Columns

What’s behind Trump’s enthusiasm for GSE reform?

What’s behind Trump’s enthusiasm for GSE reform?

Euromoney January 2017 euromoney.com

Reprivatizing Fannie Mae and Freddie Mac is high on the agenda of the new Trump administration – its close ties to the hedge funds that were hit by their conservatorship and subsequent cash sweep could explain why, and is just one example of the murky incentives that have followed Donald Trump into the White House.


Investment banking: DNA in the USA

Euromoney February 2017

For a non-US bank to be a success in the US, it has to get its ambitions right first.

Departing CFTC chair warns against repeal of financial regulation

Euromoney February 2017

As he steps down from the CFTC on inauguration day, Timothy Massad warns the new administration that wholesale repeal of post-crisis financial regulation would be a big mistake.

Vive la différence! Why French quirks endure

Euromoney February 2017

France’s low-growth and highly consolidated banking industry might appear rigid, but jealousies and opportunism are keeping idiosyncrasies alive and kicking.

Indonesia’s JPMorgan rebuke hurts the country

Euromoney February 2017

Indonesia’s reaction to a bank’s tactical call on its equity markets helps nobody, including Indonesia and its investors.

Macaskill on markets: Market share and marketing hype in the Trump era

Euromoney February 2017

The rally in bank stocks seen after Donald Trump’s election victory had stalled by the time of his inauguration as president on January 20. Fourth-quarter results from US banks were also announced in January, giving bank heads a chance to pitch their prospects relative to competitors.

Sideways: A Hillary Clinton moment for Blythe Masters

Euromoney February 2017

Blythe Masters had what seemed to be a Hillary Clinton-on-election-night moment when Digital Asset, the firm where Masters is CEO, failed to win a role in the most significant blockchain application yet announced.

The long road to gender equality

Euromoney February 2017

The finance industry continues to struggle with the disconnect between talk and action on diversity. Is it time for the activists to shake things up?

Front end

Gender inequality – Diversity: the alternative view

Gender inequality – Diversity: the alternative view

Euromoney February 2017

In a month that saw hundreds of thousands of women worldwide unite in disgust at the proposed policies of new US president Donald Trump, one Chinese investor has provided a shocking example of how pervasive a problem gender inequality still is in the financial markets.


Bitcoins you can grab

Euromoney February 2017

Bobby Lee, co-founder and chief executive officer of BTCC, the Shanghai-based bitcoin platform and second-largest bitcoin exchange in the world, certainly stole the show at London blockchain week, a series of conferences held in late January.

ANZ's ATM ace beaten

Euromoney February 2017

The bank's branding seemed a safe bet before Djokovic was given the tennis elbow by a little-known Uzbek.

Quotes of the month

Euromoney February 2017

Off the record

Euromoney February 2017