Quotes of the month
November 2017 issue.
“The former shareholders were so powerful and they had the equivalent of a nuclear bomb in their hands, fused. We saw ourselves as a bomb squad”
Ukraine’s finance minister, Oleksandr Danylyuk, doesn’t play down the risk of the forced nationalization of PrivatBank amid opposition from its oligarch owners
“I look at the banks in this country, and the fact that they are recovering is not exactly heroic”
James Gorman, chief executive of Morgan Stanley, was typically phlegmatic at the IIF meetings in Washington
“It seems to me imperative that, at a time when global political leadership is in retreat, it’s not just the NGOs that are being pushed into the front line. There are growing parts of the private sector that are ready to say you can’t have just a global economy, you need global responsibility as well. That’s the only way we are going to be able to keep the globalization bargain”
David Miliband, head of international aid organization IRC and former UK foreign secretary, is trying to promote the role of private finance in dealing with the refugee crisis – and his tie-up with Citi could be just a start
“We’ve been unbelievably impressed with the professionalism of our Chinese partners, as businessmen, as individuals and as companies. Everything we’ve always sought to get done has always been done on time. I don’t think there’s been any major disagreement between us”
Ten years after ICBC bought a 20% stake in Standard Bank, the latter’s former CEO Jacko Maree has absolutely no regrets – so why haven’t other banks formed partnerships with big Chinese lenders?