Quotes of the month
"To be an Apple in the wealth-management arena with regards to technology would be the holy grail"
Tom Kalaris, head of wealth at Barclays, looks to take a bite out of his competitors (see Private banking CEO roundtable: Preservation is the name of the game)
"The next era for investment banking will be one of specialization. Remember it’s not so long ago that investors would happily go to UBS, say, for a cash equities trade and O’Connor for the associated derivatives hedge"
Peter Neilsen, head of markets at RBS, which clients will soon not be able to go to for cash equities, among other services (see Investment banking: A whole new ball game)
"The pressures between corporate performance and where new money is prepared to buy in are becoming more acute"
Michael Grayer of Lazard sees options running out for many distressed European corporates
"The scale of problems is beyond the government and private foundations to address alone. If an industry is developed, it could bring in the capital markets and with it tens of trillions of dollars"
Margot Brandenburg of the Rockefeller Foundation on the potential of social impact investing