Quotes of the month
"I have never in my life seen Spain in such a difficult moment as this. We’re trying to do as much as we can for the country. The situation in the country worries me, but the situation of the bank does not. Santander is in a great position. Our subsidiaries model has been totally vindicated. The group is strong, even when one part of the group is weakened"
Emilio Botín, chairman of Santander, faces conflicting emotions
"The silver lining of a bad macro picture and a tough, but understandable, regulatory picture is that the industry is finally consolidating"
Anshu Jain, co-CEO of Deutsche Bank, sees beyond the clouds of terrible markets
"This is the natural evolution of that flow monster role, and an area that we believe is elemental to the flow market. Clearing will be the umbilical cord to the flow business in the future"
Guglielmo Sartori di Borgoricco, head of distribution at Barclays, on the gestation of a mutated market monster
"Having a prime brokerage relationship is a lot like being married"
Does Barry Bausano, head of global prime finance at Deutsche Bank, mean it’s a mutually beneficial relationship or a hard one to get out of?
"Takeover defence is sacred for us as the highest form of advice. It tends to be very emotional for targets and so is entrusted to the closest adviser that knows the management, board and operations the best"
Gene Sykes, chairman of M&A, doesn’t quite say that Goldman Sachs is doing God’s work...