Off the record
"The problem for the hedge fund industry is finding alpha, which at the moment is as rare as rocking-horse shit"
A head of markets is worried about how to service some of his most important clients
Banker A: "Did you see how well our Sberbank deal did? And we’ve got big oversubscriptions for others. The markets are back"
Banker B: "So the hedge funds are all risk-on again? Oh, great"
Euromoney keeps quiet at this particular cocktail-party exchange
"Rothschild apparently has a no champagne policy. How unbelievable is that? A no champagne policy!"
An old-school investment banker is incredulous at the corporate entertainment policy of the blue-blooded bank during the Olympic Games
Euromoney: "What do you feel is the most unexpected and inexplicable characteristic of the markets at the moment?"
Senior banker: "The fact that UBS is still in business"
"They are constantly roaming our office and those of our peers. It’s not good for anyone’s business"
A transaction banker is worried about scrutiny from regulators after the fines handed out to HSBC and Standard Chartered