A SUPPLEMENT TO EUROMONEY – MARKETS 1997The head of equity capital markets at a large European bank hesitates, just for a moment, before making a surprising confession. The bonus his firm paid to him in early 1996 still sits in cash at his bank. He has not invested the substantial windfall in the equities markets. Nor does he feel any inclination to invest the bonus he is about to be paid for 1996 which, given the scale of new issue activity last year, will be an even more handsome sum. |
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