Off the record
“We drew it on the back of a cigarette packet. Or 10 cigarette packets.”
One prime brokerage team took a time-honoured approach to figuring out how Credit Suisse’s Archegos losses could be that bad.
“What’s the next big investment asset class for the super-wealthy? Well, this year it’s certainly not going to be French wine.”
The frosts that have hit vineyards in Bordeaux and Burgundy are being felt in wealth management.
“Having a [LatAm] regional strategy without Brazil is like having a barbecue without beer. You can do it, but really, what’s the point?”
An investment banker in São Paulo sums up the importance of Brazil in the region.
“Vision 2030? It’s probably Vision 2050 but time will tell.”
One head of investment banking for the Middle East questions the chances of Saudi Arabia hitting its Vision 2030 targets.
“Our problem with big family offices is the people who run them are ex-investment bankers. They charge in, rattle cages, cut fees then last a year or two before they get fired.”