Quotes of the month
"If you don’t fully understand an instrument, don’t buy it. If you would not buy for yourself a specific product, don’t try to sell it. If you don’t know very well your customers, don’t lend them any money. If you do all these things, you will be a better banker, my son"
Emilio Botín, chairman of Santander, gives advice to bankers on how to avoid a crisis while accepting Euromoney’s best global bank for 2008 at the Awards for Excellence dinner (see And for his next trick... Botín weaves his magic at Santander)
"The environment where anyone can leave a big firm and say "I wanna start a hedge fund’ and have people throw money at them is clearly over"
Grant Kvalheim, former president of Barclays Capital, is one of many senior bankers mulling life after the credit crunch (see Credit markets: Life after the crunch)
"We hope this enterprise will be the start of our full enchilada offering in the future"
Alejandro Valenzuela, chief executive of Mexican bank Banorte, plans a tasty treat for clients and shareholders (see Mexican banking: Banorte works towards full enchilada offering)
"In many cases, MENA hedge fund managers are little more than long-only managers charging hedge fund fees"
Francis Akpata of family office Acropolis Capital (see Hedge funds seek out Middle East alpha)