“What does he mean by this? I suppose it is about police coming and taking us like we see with the press. What kind of police-type measures could be imposed against a bank? This is like a joke. Isn’t this a state of law?”
Ersin Ozince, chief executive of Isbank and head of the Turkish Banks Association expresses his outrage against Economy Minister Ali Babacan’s plans to apply “police-type measures” against any bank increasing loans above the government limit. Ozince resigned from both posts shortly afterwards (see Turkey: Bankers and state collide on reserve ratios)
“The market is very curious about us. One investor told us we have the best turnaround story in Europe. Another said we have potential. It’s up to us to translate that potential. It’s a pivotal moment”
Federico Ghizzoni, chief executive of UniCredit, realizes actions, not words, will determine whether his leadership proves a success (see UniCredit’s new guard fights to revive its empire)
“It is clear that some countries’ regulation allows for a much less conservative calculation of risk-weighted assets”
Jamie Dimon, complains that JPMorgan is the victim of an unlevel regulatory playing field (see Banking: Monsters remain unleashed)
“If you look at the profitability on external exchanges over the past three years, it’s got steadily worse and where is the money going? It’s going to high frequency firms. They’re not cheating, they’re not breaking any rules; they’ve just chosen to concentrate on one particular segment, but the banks have to get rid of risk, and when we try to do so, we find a lot of time these guys on the other side and it hurts us”
Chris Purves, global head of e-trading at UBS, on how high-frequency traders are destroying liquidity in FX markets (see Euromoney FX survey 2011: Banks take fight to the algo traders)
