Downfall of a dynasty

Downfall of a dynasty

The last days of Ricardo Salgado and Banco Espírito Santo

Middle East: Special focus

Middle East: Special focus

Exploring the challenges and opportunities

High profile players, past and present, such as Mark CarneyIvan RitossaBenoît Coeuré, Sinan Al-Shabibi, Stan O’Neal, John Mack, Marcel Ospel and Lloyd Blankfein speak with Euromoney.


  • SSA corporate funding: IMF – Take the long view on Africa

    Abebe Aemro Selassie, deputy director of the IMF’s African department, urges policymakers in sub-Saharan Africa (SSA) to focus on making sure banking systems are robust. Rather than looking for short-term rewards of opening credit lines, he wants to see well-capitalized and regulated banks in countries where fiscal deficits are controlled.

  • Central bank governor Salamé keeps Lebanon going

    The longest-serving central bank governor in the world has seen it all, and even now is keeping the economy growing despite domestic political paralysis and the spillover from Syria.

  • Africa's rising stars: Patience Akyianu, managing director of Barclays

    Nationality: Ghanaian

  • MasterCard’s Cairns: “We’re a tech stock … which outperforms Google”

    In a wide-ranging interview, Ann Cairns, MasterCard’s president of international markets and resident statistics buff, talks to Euromoney about tech-sector valuations, the digital revolution, acquisitions, regulation, and a yacht called…

  • Šimonyte: Lithuanian central bank eyes euro ambition

    Bank of Lithuania deputy chief Ingrida Šimonyte discusses the country’s euro-adoption plans, the challenges for the foreign-owned banking system, and the asset quality review in a wide-ranging interview.

  • Michael Strobaek, global chief investment officer, Credit Suisse

    Strobaek joined Credit Suisse in May 2013 from a Swiss family office, where he was the CEO, the CIO and a managing partner. Between 1996 and 2009 he was with UBS.

  • Steven Wieting, global chief investment strategist, Citi Private Bank

    Wieting took on the role in May 2013 and was formerly a director and US economist in Citi Research. He joined Smith Barney in 1996 and became lead economist for Citigroup’s US institutional equities business in 2000.

  • Q&A with VTB CEO Andrey Kostin

    In an in-depth interview with Euromoney, the head of the powerful Russian state lender discusses domestic bank competition, regulation, credit growth and reveals the impact of state ownership.

  • National Bank of Serbia governor paints banking landscape – Q&A

    In a wide-ranging question-and-answer session, governor Jorgovanka Tabaković reveals shifting sands in the Serbian banking system, efforts to boost domestic sources of finance, capital market reform, Basel III and Vienna initiatives.

  • Babacan: ‘We are one government’

    Since 2002, Ali Babacan has earned Turkey’s government the trust of markets. But what can the ruling party’s economy chief say to reassure investors now, after some government members’ attacks on the local financial sector? The answers are not all encouraging.

  • Q&A: Eduardo Eguren, CEO, Burgan Bank

  • Ngozi Okonjo-Iweala: Nigeria’s crusader-in-chief fights for the country’s soul

    Ngozi Okonjo-Iweala is convinced she can diversify the economy. But fears are growing that the end of the commodities super-cycle will imperil the growth model.

  • Brains behind Abenomics urges PM to show his brawn

    Japanese newspapers often refer to Koichi Hamada as “the brains behind Abenomics”. During a recent visit to Tokyo, the 77-year-old special adviser to Abe spoke frankly to Euromoney not only about Abenomics, but also the character and nationalism of Japan’s prime minister.

  • Coeuré: ECB confronts SME financing challenge

    In an exclusive interview, Benoît Coeuré, member of the executive board of the European Central Bank, discusses the challenges that Europe faces in stimulating financing to small and medium-sized enterprises, including the creation of a truly pan-European and cross-border capital market in the region and how securitization can be used to re-establish funding to these firms.

  • Q&A: Rimantas Sadzius, Lithuanian finance minister

    Finance minister Rimantas Sadzius reveals Lithuania’s 2015 euro adoption plan, touts the benefits of convergence and strikes a bullish – and contrarian – tone on eurozone policymaking.

  • Q&A: Andris Vilks, Latvian finance minister

    With Latvia set to join the eurozone in 2014, and Moody's upgrading its bond rating this week, finance minister Andris Vilks is confident of the benefits to the country in joining the single currency – and aware of the efforts needed to convince a sceptical population.

  • Banking union: Rabo’s Moerland warns of rush to banking union

    All banks must be Basle III-proof; Regulatory avalanche stifling business

  • Mark Carney: Finance’s new statesman

    Regulators have regained their reformist muscle in the shape of Mark Carney, Bank of Canada governor and chairman of the Financial Stability Board. In a wide-ranging interview, Carney talks about recent banking scandals, the Volcker Rule, and why fears about Basle III are wide of the mark.

  • The Ivan Ritossa story: the man who built Barclays FX

    Ivan Ritossa, who recently announced he is leaving Barclays after 10 years, has been one of the most influential figures in foreign exchange during the past decade. Hamish Risk profiles the man and charts the extraordinary rise of Barclays as a leading FX player.

  • OeNB: Central bank seeks orderly deleveraging

    Andreas Ittner, executive director, Austrian Nationalbank (OeNB), discusses the challenges of regulating banks with diverse emerging European portfolios.

  • Colombia: Echeverry leaves his post all guns blazing

    With Juan Carlos Echeverry’s August departure, Latin America has lost one of its most effective finance ministers. And certainly its most combative. Just days before the news broke that he had lost his job, Euromoney met him in Bogotá to hear his uncompromising views on sustaining Colombia’s recent growth. The only unanswered question: did he know what was to come?

  • Ittner explains Austria’s CEE banking policies

    Andreas Ittner, executive director at the Austrian Nationalbank (OeNB), talks to Euromoney about why Austrian banks are not deleveraging from the “extended home market”, how they are still on track for Basel III, and what sets the OeNB apart from its peers.

  • Mexico CBG interview: Carstens stands by his rate cut

    Mexico’s central bank surprised the market in June when it cut its base rate by 50 basis points. Euromoney’s central bank governor of the year in 2013 stresses that the credibility of the bank’s focus on inflation should not be doubted

  • Africa's rising stars: Bolaji Balogun, CEO of Chapel Hill Denham

    Nationality: Nigerian

  • AECI’s treasurer: “…I don’t feel we have overpaid these banks”

    In an interview with Euromoney, the group treasurer of South Africa-based explosives and chemicals group, AECI, shares his views on managing the company’s treasury operations, planning for international expansion, banking relationships and the prospect of adding international banks to its roster.

  • Muhammad Chatib Basri: Fight of the navigator

    Indonesia’s finance minister, Muhammad Chatib Basri, has a clear mission: to make government easier to navigate – for its people, its companies and for foreign investors. His pragmatic approach is paying dividends. So much so that he might even be asked to stay on.

  • Alex Friedman, Global CIO, UBS Wealth Management

    Friedman joined UBS in March 2011, from his former role as CFO for the Bill and Melinda Gates Foundation.

  • Richard Madigan, CIO, JPMorgan Private Bank

    Madigan took on his role in April 2012 having joined JP Morgan in 2004. Before that he was head of emerging markets investments at Offitbank.

  • Thomas Moore, chief market strategist, HSBC Private Bank

    Moore joined HSBC in 2001 from his role as CIO at JPMorgan Chase’s personal asset management group.

  • Q&A with Dimitar Bogov, governor of the National Bank of the Republic of Macedonia

    In an interview with Euromoney, Bogov discusses credit growth, bank regulation, foreign dominance of the country’s lenders, and the Vienna initiatives.

  • Agricultural Bank of China economist warns economic reform hinges on politics

    Xiang Songzuo, chief economist of state-owned ABC, says China’s next raft of reforms – from retooling state-owned enterprises to tackling local government debt burdens and environmental challenges – will involve a disruptive shift in the political system.

  • Lebanon’s Salamé stresses resilience and stability

    In an exclusive interview, Riad Salamé, the longstanding governor of Banque du Liban, discusses Lebanon’s perpetual political and economic challenges, the resilience of its banks and the prospects for needed structural reform. He even ponders what he would do if he were president for a day.

  • Miroslav Singer: Gunning for intervention

    Famed for his tough approach to regulation, Czech central bank head Miroslav Singer now has his sights set on currency market intervention to reflate the country’s flagging economy. He talks to Euromoney about the limitations of fiscal policy, the prospects for Czech adoption of the euro, and the dangers of regulatory integration.

  • Jin-Yong Cai: An activist at the IFC

    The new head of the International Finance Corporation, Jin-Yong Cai, tells Euromoney about the need for the World Bank’s private-sector arm to take more risks and be more activist in developing policy ideas in such areas as infrastructure development and poverty reduction.

  • Standing up to Too Big to Fail

    Richard Fisher, president of the Federal Reserve Bank of Dallas, tells Euromoney why no bank is too big to fail and why Texas has much to teach the rest of the US economy

  • Baraka: ‘We are reforming Morocco’s finances’

    Finance minister Nizar Baraka says he can – and must – bring down Morocco’s gaping fiscal deficit. But after a debut dollar bond in December, how much can he change the country’s financial model in the midst of pan-Arab revolt?

  • Fernandes fires up Asian expansion

    High-profile Malaysian CEO Tony Fernandes is intent on furthering his companies’ pan-Asian expansion, notably through AirAsia. He sees such international activities as The Apprentice Asia and ownership of Queens Park Rangers FC as useful publicity for his business ventures.

  • Middle East: Al Rajhi hits back

    In an interview in his office in Riyadh, Suliman Azzabin, chief executive of Al Rajhi Bank, pours scorn on allegations that link his bank to terrorist financing repeated in the US Senate report on HSBC last year. So what is Al Rajhi Bank in 2013 really, and how is it still making so much money?

  • Credit Suisse's Olympio fights usurpers to his kingdom

    Can Credit Suisse’s newly promoted CEO of Brazil, José Olympio Pereira, maintain his own and his bank’s high standing in equity capital markets? Euromoney interviews Olympio to find out.

  • Regulation: Danish central bank talks tough on Basle III and European banking union

    Basle III proposals would hurt Danish banks; Denmark wants equal treatment in bank union

  • Purisima drives down the road to reform

    The Philippines’ secretary of finance, Cesar Purisima, has a reputation for probity that has reached street level. And he is determined to rapidly advance economic growth through the encouragement of entrepreneurship, the development of capital markets and increased regional integration.

  • Arunma Oteh: A reformer fights back

    In an exclusive interview, Arunma Oteh says her temporary suspension earlier this year as head of the Nigerian Securities and Exchange Commission was just the latest in a series of attempts to unseat her. But she says she and her allies are winning the battle to stop market abuses and change Nigeria.

  • Charles Dallara: The ultimate insider opens up

    For 20 years, Charles Dallara worked the corridors of power in the financial community as managing director of the IIF. Then Lehman Brothers and the Greek crisis brought his role into the glare of publicity. As Dallara prepares to step aside, he considers the changes that have taken place in the banking industry, and the role the IIF has to play in its future.

More Interviews stories

Final days of Ricardo Salgado and Banco Espírito Santo

Euromoney Pulse Survey: Renminbi’s internationalization continues apace
When BES collapsed earlier this year, markets briefly feared a return of the crisis to Portugal and to Europe. Even after the bank's bailout, investigators still pore over bank documents, transfers and deals, trying to make sense of Salgado’s last days battling to keep his empire afloat. The backstory is of an extraordinary decades-long rivalry between the country's two pre-eminent business families.