April 2016
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LATEST ARTICLES
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After a record year for fund raising, large fintech companies are now emerging in marketplace lending and payments, with many more newcomers deploying venture capital money raised in $25 million to $50 million chunks to transform capital markets and traditional banking mainstays such as mortgage lending. The fintech start-ups are building revolutionary applications for blockchain, attacking every specialist niche in the financial world and keeping the image of fintech clean with business ventures aimed at inclusion.
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The country faces many challenges as it prepares to make itself the global growth leader of tomorrow, not least in infrastructure, capital-market development and up-skilling its workforce. Part of the solution is to make itself more attractive to foreign investors.
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February brings with it the cherished annual sight of ANZ coming out in flamboyant fashion ahead of Sydney’s Mardi Gras festival.
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With a can-do attitude, the island nation is working hard to move up the league tables by improving domestic conditions for business and inward investment and prompting its international ambitions by signing free-trade agreements with its neighbours.
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BNP Paribas takes the issue of diversity in the workplace very seriously. A quick glance at its website tells you as much.
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It is tempting to wonder if the Libyan Investment Authority’s actions against Goldman Sachs and Société Générale could end up going the same way as Jarndyce and Jarndyce.
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Since the financial crisis, plenty of former bankers have sought to restart their careers in a completely new environment. But few have taken the change as far as Heidi Golding.
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Plans to pre-fund 2017 in second quarter; Brazil and Argentina imperil growth and investment.
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Cheapest access to dollars: politics helps mask economic realities.
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Two troubled rights issues should remind banks that underwriting is a discipline, not a formality.
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Insurance companies will struggle to fill real asset allocations until the industry gets better at structuring infrastructure risk.
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Shores up confidence; retains minority Swiss bank stake.
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Buyouts slump to lowest level since 2003; concern grows over forward pipeline.
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International banks are picking up the suitcase banking habit in Latin America again. They may find it hard to return.
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Adair Turner, who famously took over as chairman of UK bank regulator the Financial Services Authority in September 2008, delivered a thoroughly depressing analysis of the slow and disappointing recovery from the financial crisis at the European Capital Markets Forum last month.
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Bank snaps up local advisory firm; M&A activity ‘on upward trajectory’, says CEO.
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Asic launches investigations; ANZ, Macquarie and CBA probed.
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Corporate debt at record high; NPLs at state lenders also on rise.
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Private equity firms quick to exploit oil sector distress; end investors remain cautious.
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Brexit presents a fascinating situation for the financial services community.
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Polemicists arguing either side of this coin toss abound, from water coolers to Republican primaries. Where once markets drew direction from the pronouncements of Alan Greenspan, they now rise and fall on Chinese numbers. Ironically, no one actually believes the official numbers that China puts out.
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Banks off load loans as securitization stalls; start-ups and insurers compete.
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CEO to press on with pan-African investment; PLC exit comes as African business turns round.
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$94 billion coming due by end-2017; Bahrain pays up after downgrade.
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$101 million stolen by cyber-thieves; fears of an inside job.
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Mixed regulatory messages cloud the outlook after Italy’s first big bank merger since 2008.
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Central bank policy has evolved from unorthodox to downright strange as politicians have failed to take control of the post-crisis economy. Sooner rather later they will confront a stark choice signposted Greece or Ireland.
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When the numbers look bleak and central banks are out of tools, cash and gold make sense.
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A botched move to take the distressed credit out of Credit Suisse and an ‘acceleration’ of the strategic plan give the impression the bank’s new leader is making it up as he goes along.
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The European Central Bank’s announcement that it will extend its debt purchases to corporate bonds has given a boost to the region’s investment banks.
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EC demands rethink on Mifid II transparency; end investors criticise focus on liquidity.
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Latin America’s real-estate investment trust market has stalled in the face of a general pullback in emerging market investing. In the longer term, however, this could be the shock that spurs on a sector held back by asset size and asset scarcity.
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Patrick Njoroge has spent much of his career outside Kenya, mostly in Washington at the IMF as a senior economist. Two decades in that role took him around the world, occasionally as its ambassador, more often in a team of firemen fixing damaged economies.
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France leads new European AML push; tech payments firms most vulnerable.
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After 20 years at the IMF, Patrick Njoroge gave up life in Washington for the rough and tumble of public life in Kenya. It was a culture shock for the new central bank governor. Now his robust approach is proving to be a shock to the Kenyan system.
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Future Finance plans European expansion; more non-bank student lenders expected.
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A liquidity crunch is affecting banks worldwide and Saudi Arabia is no exception. Deposits are falling as the government pulls out cash to fund the deficit, yet lending continues to grow. Will the banks change their lending models or turn to the capital markets for funding?
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Citi’s Asia-Pacific business is the ultimate test of its universal banking model. New regional CEO Francisco Aristeguieta knows he needs to build on its strong component parts, not just to maintain its position in Asia, but to push the bank forward globally.
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China has a future rich with potential: a liberalized currency, an open capital account, state lenders and technology giants offering innovative banking services to a vibrant private sector. But Beijing’s leaders face a growing problem: a two-speed China. Now is not the time for them to drag their feet over reform.
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ABN Amro has risen again. Under executive chairman Gerrit Zalm, the bank has been remodelled almost beyond recognition. Its capital and profitability are restored, and, as the Dutch mortgage market shrinks, Zalm sees its best chances for growth in the international arena.
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While credit conditions appear to be easing for medium-size borrowers, small companies face big hurdles in securing finance. Finpoint aims to help them over.
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As worries mount that large volumes of student debt extended in developed markets will never be repaid, EdAid seeks a new model for student loans and new lenders.
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Two large fund-raising rounds have equipped the property-focused marketplace lender to grow into a mainstream mortgage provider.
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Fintech inevitably leads the search for greater efficiency and transparency to the most fiercely guarded corner of banks’ turf: the new-issue business.
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Starting by transforming the workflows around invoices, Applied Blockchain is developing practical uses for shared ledger technology on private networks.
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Recent deals from Lonmin and Saipem demonstrate that in current markets even one of the more straightforward types of capital raising, rights issues, can struggle. Is the model broken, or is this troubling evidence of just how risk-averse underwriters have become?
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A key player in ABN Amro’s IPO last year was the entity set up to hold and sell bailed-out Dutch banks and insurers, Netherlands Financial Investments (NLFI).
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The Single Supervisory Mechanism, the eurozone’s new banking supervisor, is tasked with combating financial fragmentation, building a banking union and, above all, making Europe’s banks investable once again. The first few months of its tenure were some of the most difficult since the dark days of the euro crisis. Bankers’ scepticism about the new regime is the least of their worries.
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Apart from standardizing the numerator for banks’ solvency ratio (capital), the eurozone and the Basel Committee on Banking Supervision are going to analyse and, where necessary, harmonise the denominator (risk-weighted assets).
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Could BPCE replicate its growth in investment banking and asset management and make international acquisitions in retail banking too?
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François Pérol has overseen an extraordinary shift at Natixis and its parent, BPCE. International wholesale banking and asset management are among BPCE’s proudest boasts and biggest hopes. Will its complex recipe of mutual lender, structured finance shop, boutique advisory and insurance leave a bitter taste?
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Having a complete view of a company’s financial position is giving corporate treasurers a greater role in the M&A process. From raising the initial financing to managing the new payroll structure, companies are finding the earlier their treasurers become involved, the better.
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Negative swap spreads are more than a sign of dysfunction in the interest-rate derivatives market. They are the result of fundamental changes in the structure of the capital markets that have been forced by post-crisis banking regulation.