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Off the Record

“Take your pick as to which of these versions you prefer to believe:

1. He is unable to respond as he is deeply involved in structuring a highly complex transaction (even cutting edge) on behalf of a key client of the bank – likely to result in a bespoke solution encompassing a variety of asset classes, also likely to result in a significant uplift to shareholder value 2. He is ‘missing in action’, but rest assured will meet you at the White Hart no later than 5pm”

A colleague of the global head of sales at a major European bank confirms his availability for an important meeting with Euromoney

“Oh great – another free copy of the magazine. It’s a shame you don’t work for Playboy”

A hedge fund manager jokingly greets Euromoney on its second visit to his office in as many months

“Tea, coffee? Drugs, women?”

A Ukrainian investment banker offers a warm welcome to a Euromoney reporter

“The fundamentals of the structure were: ‘are you nuts?!’”

A banker explains the original premise on which a recent LBO bid was built

“We have people trying to market some notes to us now at 23%. Clearly that’s not debt: it’s equity. And however you perfume that particular pig, it’s still a pig”

An unimpressed-sounding principal investor

“I would say that people like us who see Instinet as a competitor could not be happier that it was Nomura that bought them as we have some degree of confidence that they will screw it up”

A head of execution at a Wall Street bank on the Japanese bank’s deal to gain control of the electronic agency brokerage

Electronic brokerage: Nomura gets Instinet access

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