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Quotes of the month May 2014

“I have two options: one, I continue as normal. But one slip of the tongue and I’m terminated, all my stock is clawed back and my career is over. Option two is much more palatable: I may get fired for doing no business, but my stock gets paid and I can get another job”

A foreign exchange trader explains the consequences of the market’s reign of terror


“We’re very close to a tipping point where the whole client-to-dealer market goes electronic and we will see an explosion of investors using trade-execution algorithms in bond markets just like they do in equities”

Ryan Sheftel, global head of fixed-income e-commerce at Credit Suisse, says algo trading is coming to the bond markets


“Who goes into a Co-operative Bank? Someone who is politically interested, who is left-wing. But that is not enough”

Jon Emaldi Abasolo, director of Caja Laboral Kutxa, explains why the Basque co-operative bank works where its UK counterpart failed


“The trust element was there, and they totally took advantage of it and sold LIA complicated transactions with complicated documents that they couldn’t understand, at a moment when the whole world was going south, and they knew that”

Abdulmagid Breish, the chairman and acting CEO of the LIA, on the SWF’s claims against Goldman Sachs. The US firm vigorously rebuts the claims and has applied to have the case summarily dismissed


“I wrote a piece of work for an English assignment and I got beaten for using a ‘made-up word’. The word was ‘serendipity’”

 Sangu Delle, CEO of Golden Palm Investments, overcame a limited education system to become one of a group of financial rising stars eager to make the most of Africa’s potential

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