Quotes of the month
"And what drives me? I want to create a huge empire. That is what drives me. And as long as God is willing and gives me strength and I am healthy, I will do that"
Herbert Stepic, CEO of Raiffeisen International, on his expansion plans for the Austrian bank (see Stepic: a rare breed of banker, Euromoney, May 2007)
"The clients’ need for bank FX provision is becoming increasingly modular. They need to be able to swiftly plug in different components of a product offering in a format that best matches their own needs. They emphatically do not want a Bang & Olufsen solution, something that looks nice but does not plug into anything else"
Peter Nielsen, global head of FX at RBS, on how banks are dealing with clients’ needs for FX prime brokerage (see Top five consolidate lead in FX market, Euromoney, May 2007)
"Managing risk is still all about the three C’s – character, cashflow and collateral"
George Nianias, founder of Denholm Hall, explains how managing risk is fundamentally the same whether you’re investing in the Square Mile or the wilds of Russia (see Denholm Hall gets Sharpe with rouble debt, Euromoney, May 2007)