August 2016
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LATEST ARTICLES
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One bank in the US has come up with a failsafe way to increase footfall in its branches – place Pokémon Go characters there. Florida-based CenterState Bank decided to cash in on the popularity of the augmented reality game last month by placing lures in two of its branches in Lakeland and Jacksonville.
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Does life imitate art, or art life? This is one of the deeper questions to arise from the ever-expanding 1MDB scandal in Malaysia, where in late July the US Department of Justice moved to seize $1 billion in assets as part of its anti-money laundering investigation into the sovereign fund.
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HSBC isn’t the first bank to have found itself getting headlines for the wrong reasons. John Anderson has dealt with a few.
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Both tasks suggested by this banker seem equally impossible at this stage, to be honest
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The failed coup in Turkey shows that we are in one of those periods in history when politics matter as much or more than economics for financial markets.
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All eyes are on the expected appointment of a new Reserve Bank of India governor, but nobody is quite clear why there needs to be a new one.
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As the Shanghai Gold Exchange introduces a new benchmark, the country now leads in gold production, consumption and imports.
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Could Lisbon make its two biggest problems one by nationalizing Novo Banco and merging it with CGD?
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Italy’s banks cannot deal with their NPLs unless they have capital, but they are not being allowed to recapitalize until they have dealt with their NPLs.
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So far bankers have considered platform as a service (PaaS) mainly as a way to free their own software developers from the constraints of relying on scarce in-house IT resources.
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Established on large deal roster; big banks suffer brain drain.
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The case against two HSBC employees for front-running a foreign exchange order from a client could hasten the death of the principal model for FICC trading by banks. A shift to an advisory-based approach is possible, but banks will struggle to make up lost revenue.
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Central bank’s first post-2008 intervention; Claims Nigeria’s banks remain healthy.
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Posts 9.02% loss for 2015-16; sovereign fund reshapes portfolio.
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When HSBC’s former head of global FX cash trading Mark Johnson learned that he had a window of just over 30 minutes to move the sterling exchange rate and profit from an approaching client trade, he said: “Ohhh f***ing Christmas,” according to US prosecutors.
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US investors shun Russian privatization; global banks not required, say locals.
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Sitting in his office in central Madrid, Marco Bressan, the chief data scientist at BBVA, gives a small chuckle when asked about the topic of artificial intelligence. He notices that as soon as a new article is written in Wired or the Harvard Business Review, his phone starts ringing.
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Regulatory-driven tier-2 deal trades up; Brazil banks still prefer local funding.
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Best global performers so far this year; Rally technical; fundamentals remain poor.
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Two years into what he says will be the last job of his career, ABK’s chief executive Michel Accad has already taken the bank from a domestic to a regional player and begun much-needed modernization.
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S&P at record highs, while IPOs are 60% down year on year; disconnect between stock market and new issues.
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The downturn in Brazil does not faze Ricardo Lacerda, founding partner of local investment bank BR Partners. Advisory remains the bedrock of his business, but political instability makes him think the next five years could undermine the last 20.
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China and India dominate market; US corporates begin to take note.
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Tomas Spurny has headed some of the biggest banks in emerging Europe. Now he has the task of transforming Czech consumer lender Moneta Money Bank into a digital leader. He talks about technology, regional risk and the joys of returning to Prague.
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CEO Byron Haynes is steering Bawag PSK away from its past in trade unionism and postal savings. The bank’s future, it seems, is not in the east, but as a consolidator in the rapidly changing markets of the west.
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The earnings of the independent investment banks may be far more exposed to any sharp slowdown in M&A activity than rivals with big balance sheets. Even so, the independent business model now looks battle proven, says Lazard’s Kenneth Jacobs.
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Non-DCM FIG revenues have fallen sharply this year as clients remain focused on balance sheet housekeeping, and many rights issues have proven to be a tough sell. Is FIG turning into the preserve of the bond market bookrunners?
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Yes Bank, started just 12 years ago, is one of India’s fastest growing lenders – and the most interesting by far. Its founder and CEO sits down with Euromoney to discuss risk management, cost cutting, divine intervention and why he doesn’t do the ‘wow’ factor.
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HDFC launches first corporate masala bond; others may be slow to follow.
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Dominance of global volumes continues; why aren’t others catching up?
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China Construction Bank is not alone among the country’s big four banks to claim it changed its lending policy before the rise in bad debts. But in chairman Wang Hongzhang, CCB has a leader who thinks differently.
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Digital initiatives boost Hong Leong Islamic Bank; Islamic finance fertile ground for fintech.
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Brexit sparks investor flight; private equity sees an opening.
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With growth hard to come by elsewhere in Credit Suisse’s global network, CEO Tidjane Thiam has turned to Asia. He has given Asia Pacific chief Helman Sitohang not only tough targets, but also a degree of autonomy. Can he deliver?
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The most celebrated fact about Francisco González is that, uniquely among bank CEOs – since May 2015 he has been executive chairman of BBVA – he began his career as a computer programmer.
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ECB demands MPS shed €10 billion loans; last minute private deal scrambled.
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BBVA’s executive chairman has thrown himself into every challenge he has faced in a career spanning more than 50 years. Now Francisco González is focused on what that future will actually be. ‘Platform as a service’ does not trip off the tongue as a killer phrase to describe the future of banking, but the visionary that other bank CEOs flock to for insights into the transformation of their industry sees it as the destination for winning banks.
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Hakan Binbasgil has built Akbank into one of the most impressive financial institutions in the emerging markets. Can he keep the bank on track?
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CEOs offer their tips for the best holiday books that ambitious bankers should be devouring
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A US law to curb Hezbollah’s access to finance has caused weeks of turmoil in Lebanon, where the rules were quickly implemented, and even exceeded, by a financial sector eager to avoid US sanctions. The explosion of a bomb outside the Beirut headquarters of the country’s second-biggest bank, Blom Bank, this summer has been even interpreted as a warning signal to bankers to not apply US regulations too zealously.
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While the accelerated sales of stakes in Fineco and Pekao signal a new style, UniCredit's returning CEO says HVB still fits with the core Italian business
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The fixed-income sales and trading business of the big US banks took a bath in the first quarter of this year, with revenues down by between 10% and 40%. But although not immune from market and geopolitical upheaval, the second quarter could not have looked more different.
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Start-ups fear a funding stop and loss of access to the single market, but are already making back-up plans that could point the way for their peers in the more established parts of UK finance.
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The opening up of accounts access by PSD2 could take the drive for real-time payments in Europe out of the hands of the banks, and hasten its time to market.