The investment bank has benefited from a focus on long-term relationships and advice
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| Peter Ghavami |
The events of the past 12 to 18 months have been a perfect opportunity for investment banks to prove to their clients their worth as risk managers. The US yield curve surprised almost everyone, refusing to move in response to interest rate rises by the Federal Reserve; the US dollar continued to weaken against major currencies before an unexpected rally in the past couple of months; commodity, and especially oil, prices have helped create new investment opportunities for some investors, while on the flipside causing a degree of pain to various corporate earnings; and equity markets have left many investors disappointed.
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