Off the record
"He comes in waves"
A bank CEO describes his head of investment banking
"If your Swiss private bank is 1% of your assets, but 50% of your headaches, why bother?"
A Zurich-based private banker explains why many international private banks are looking to shut up shop in the country
"You have to learn what it means to make and lose money. Bankers simply don’t understand that enough. These clients look at their portfolios every day, if not every hour. They have a right to know why they have lost money, and what you intend to do about it"
A former family office head on the challenges of managing money for the super-wealthy
"The French government just wrote the UK insurance industry a cheque for £200 million"
A banker’s reaction to EdF’s £1.35 billion sterling 100-year bond tightening 55bp in three days
"I don’t know why you keep asking whether this is an asset bubble in leveraged finance. Of course that market is artificial. But every market is artificial. That’s no reason for issuers to stop issuing or for investors to stop buying"
A DCM banker resolutely focuses on today’s revenues rather than tomorrow’s risks
"There once was a time when events in Crimea and Ukraine would have closed the capital markets for a couple of weeks. But they barely paused for breath. Mind you, you simply wouldn’t believe who sent us a request for proposals for a deal on the day before pro-Russian forces took control of Crimea"
A banker with a long track record of deals in Russia and Ukraine decides not to spill the beans. But it was the sovereign