Private placement market

Private placement market

Does Europe need its own?

Financial technology: Snowflake

Financial technology: Snowflake

Unlocking markets for intangible assets



News and opinion


Features

  • Asia: Patience pays off as Citic/CLSA makes its mark

    Few thought that the marriage of a Chinese securities firm with an Asian brokerage which had a unique, and at times disruptive, culture could work. But two years on, Citic and CLSA have proved they can be at least the sum of their parts. Can the combination now become a true regional powerhouse as its leaders hope?


  • The fintech entrepreneurs reshaping finance

    London is strutting its stuff as a world centre for fintech innovation to rival Silicon Valley and New York. The first-stage disruptors, challengers and innovators are now established and growing. Government and regulators want to build a better financial system and see technology as the key.


  • Does Europe need its own private placement market?

    Private placements have usurped securitization as Europe’s great SME financing hope. The financial markets support EU commissioner Jonathan Hill’s Capital Markets Union initiative to promote it. But the thriving US market will be hard to compete with, let alone replicate. Which leaves two questions: Can the EU build it? And, even if it can, will issuers and investors come?


  • Fintech: Azimo aims to win in remittances

    Money transfers to emerging markets is a huge business. By taking the process digital, the UK fintech start-up aims to slash the cost of remittances.


  • LatAm bond markets: HSBC – building from debt

    HSBC is pushing hard in its drive into Latin America’s markets. From a DCM foundation, it is moving into other areas, though competition will be fierce.


  • Latin America: The great rotation in M&A

    With equity and now debt funding getting scarcer in public markets, Latin American corporates must think of other options. For longer-term investors, and for those with a strong appetite for risk, the region’s troubles are a rare opportunity.


  • Emerging Europe: Turkish M&A on the rise

    Boosted by a rich run of privatizations, the Turkish M&A market burst into life last year, hitting the highest total value of deals for close to a decade. The hope for 2015 is that the same feat can be repeated. In an election year, anything is possible.


  • Fintech: Nutmeg changes the game in wealth management

    The UK fintech start-up will manage your wealth for a small, transparent fee. Is this the start of a shake-up in the protected world of private banking?


  • Emerging Europe: The growing pains of CEE private equity

    Successive crises have taken their toll on the private-equity industry in emerging Europe and enthusiasm for the region has waned. Nevertheless, its combination of strong growth and opportunities for convergence with western Europe continues to attract a hard core of supporters.


  • Financial technology: Snowflake unlocks markets for intangible assets

    Innovation is held back by the gap between the old financial system, investing and lending primarily against hard assets, and the new knowledge economy that depends on intangible assets. A new type of bank could benefit SMEs seeking to develop innovative products. It could also give investors the chance to redeploy speculative capital more productively. But who is the driving force behind Snowflake?


  • The loan market fights back

    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?


  • The battle to bank Asia’s next corporate champions

    Having the largest and most successful corporations in Asia as clients brings prestige and profit to the banks involved, but just beneath the very top is where the fight for the spoils of the future is raging. How do you pick – and bank – Asia's next generation of corporate champions?


  • Emirates NBD: Scale emerges from the culture clash

    Much has been said about the unfortunate timing of the Emirates NBD merger just before the global financial crisis, but what is often forgotten is just how challenging that merger would have been in any conditions.


  • Emerging Europe: Belarus embarks on a charm offensive

    Belarus’s leaders are promising a dramatic package of reforms that could overhaul the country’s sclerotic command economy and reduce its dependence on Russia. The only trouble is, no one believes them. Mixed messages to the bond markets haven’t helped.


  • IMF: Can Ghana resist temptation?

    The country hopes a deal can revive its stumbling economy, but it will be hard to stick to the IMF’s conditions when the 2016 elections are so close at hand.


  • Emirates NBD: Nelson’s milestone moment

    If timing is everything, then Emirates NBD should be nothing. The merger that created the bank brought together two wholly dissimilar institutions, just as the global financial crisis brought Dubai to the brink of default. It has suffered ever since. Until now. Have Emirates NBD – and Dubai – really turned the corner?


  • Regulation: Philippines remains a tough nut to crack

    The country’s banking industry is growing fast. New laws designed to encourage foreign investment make it easier for offshore firms to wholly purchase local lenders. But there are plenty of barriers to entry aside from regulation.


  • Building out Latin America's bond markets

    The region’s local debt markets are at a crucial point. International interest is growing. Investment banks are building up. But with one exception, domestic supply and demand remains limited. Can other countries follow Mexico’s lead? Euromoney investigates the dynamics of Latin America’s main bond markets.


  • Belarus pushes private-sector plans

    Belarus’s first deputy economy minister Alexander Zaborovsky insists that policymakers are keen to boost the share of the private sector in the economy through the development of new businesses. This meets with a high degree of scepticism locally, given the government’s record on the treatment of entrepreneurs.


  • LatAm bond markets: Mexico – the standard bearer

    For many reasons Mexico is the envy of its emerging market peers. The next step in its development will require attracting more international investors, but there are big challenges ahead.


  • Bond trading: Information trumps execution

    Inside the honeycomb: is this the future of bond trading? As bond market participants face up to the reality of diminished liquidity, low turnover and heightened risk of price gapping, the search for solutions is veering away from new trading protocols and exchange-like platforms towards providers of high quality pre-trade information. Do Algomi’s Honeycomb and MTS’s tie-up with B2SCAN point the way ahead?


  • Santander: Ana Botín’s whirlwind start

    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






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