Quotes of the Month
"One thing we can say definitively is that we do not have a desire to be a bulge-bracket investment bank. Ours is a more measured approach. We will only grow domestically and internationally where our client base and potential client base leads us."
Wachovia CEO Ken Thompson refutes suggestions that his bank may be a major Wall Street investment bank
"Global cross-border M&A volumes will eventually reach $1 trillion a year, and the largest and fastest-growing subset of that will be emerging-market companies buying developed-market ones."
Citigroup's chief executive of global banking, Michael Klein, explains how the tables are turning in corporate finance
"It is very positive for the Swiss financial centre to have a strong and credible consolidator in the private banking market. It will strengthen the Swiss financial industry. To a certain degree, the three private banks and GAM have always been competitors on the market."
Peter Wuffli, the CEO of UBS, explains to Euromoney the local benefits of the private banking deal between his firm and Julius Baer
"There is nothing better and more fun than when you find a good fraud story and a good stock to short. The laughs are much better on the short side than the long side."
Hedge fund manager Joe Feshbach reminisces on the good old days when short-only strategies worked, before he moved to the long side