Off the record
"It’s getting to the point where clients are looking not at which banks would be good to run the deal but which will lie to them best"
A senior investment bank in Asia complains that aggressive pitching tactics by rivals have created unrealistic pricing expectations
"You only sue the people with deep pockets and you never sue City Hall"
One lawyer explains why investors held back from suing US banks over bad mortgages when they were insolvent and propped up by taxpayer capital, but are going after them now
"What’s the process? Nobody knows, you just have to look at whatever is written down and make an educated guess. This is China’s markets we’re discussing. There are no rules, only exceptions"
A debt banker in Hong Kong appraises the opaque requirements for getting an offshore renminbi deal approved
"Fucked if I know"
The surprising response of a CEE banker, who was telling us with huge confidence about his pitch for a global rouble-denominated bond from the Russian Federation, when we asked what the rouble/dollar exchange rate was
"He walked around Washington with his nose firmly up his boss’s backside for the whole four days"
The jockeying for position has already begun as bankers try to curry favour with a recently promoted senior banker
"We want to have more senior women at the bank. We are actively looking – we want to promote women. But it has to be the right guy!"
A banker gets his sexes in a tangle