February 2016
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LATEST ARTICLES
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UBS’s wealth management chief used a crisis to reinvent the bank’s core business. Even competitors admit that he also took the whole industry in a better direction.
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Low interest rates in emerging Europe are driving less committed players out of the private banking market but giving a boost to regional lenders by enhancing the appeal of investment products.
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Extended results can be viewed here.
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What’s a wealthy Brazilian to do faced with economic and political turmoil, scandal at one of the country’s leading private banks, and a big change to the tax law? Turn to the undisputed market leader in wealth management, it seems.
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For many of the largest private banks 2015 was a year of restructuring and geographical retrenchment. Only a few global players remain. This year looks set to be just as turbulent, but will clients put up with yet more change?
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The world’s leading private banks still haven’t resolved the conflict between advising their clients and investing their assets. A decade ago, many wanted out of asset management. Now they want back in. The ensuing confusion has left a gap that pure-play asset managers are finally beginning to fill.
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India has been a tough market for global wealth managers, ground down by rising costs and regulation. But private wealth is growing fast, offering long-term profit for those with patience and persistence.
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Goldman Sachs launched an apprenticeship programme in partnership with Queen Mary University of London in late January.
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As the UK’s tax deadline day loomed at the end of January, Her Majesty’s Revenue & Customs helpfully sent out a reminder to editors that it is not a body to be messed with.
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It wasn’t quite John Simpson on the plane with the Ayatollah returning to Iran in 1979, but nonetheless Euromoney experienced a bit of history in January.
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Is there a finer name in all of financial services than Sherwood Dodge?
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“We now refer to Puerto Rico and its restructuring plans as the Kardashians. Everyone wants to talk about it but there really is no point”
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The people seem to underwhelmed by the four horsemen of the Asian apocalypse.
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Bourse expects 20 listings in three years; Nigeria and Ghana links planned.
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Banking sector clean-up to continue; UniCredit heads for the exit.
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Market set to slump, claims new report; financials make up 80% of bourse.
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Robos selling to gain scale; buy side sees ETF distribution role.
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Troubled Tuscan lender taps new funding; ABS benefits from ‘safe haven’ status.
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SWF pull billions from bonds; flight to quality in high yield.
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Bail-in uncertainties remain; Portugal and Italy mark tough start for BRRD.
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Teething troubles for messaging system; ICBC at vanguard of interested foreign banks.
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French bank joins mutual banking reform; investors hope for capital boost, fear earnings dilution.
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CEO resigns after capital raising; NBG sale fails to lift spirits.
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Sovereign highly exposed to oil price drop; default still not fully priced into bonds.
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Volatility slams international DCM shut; choppy access but strong liquidity in 2016.
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It might not be sexy, but everyone wants in now. After all, money has to be managed.
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Europe’s plan for a bad bank in Italy, it turns out, is to not have a bad bank at all.
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Unable to agree on whether or not a credit event had occurred, Isda has had to turn to outside help to determine what has happened at Novo Banco.
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Proliferation of smaller firms; compliance and risk costs deter internationals.
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Big names move to buyout firms; private equity ‘has money to burn’.
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Gap between onshore and offshore exposed; Hong Kong dim sum market in doubt.
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Market and currency turmoil weigh on growth; financial and stock market reforms needed.
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Concerns remain for Chicago, Illinois and Pennsylvania; Puerto Rico’s ballooning debt contained.
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Fears of a 1980s-style debt crisis in emerging markets are overblown. But to clear the miasma of statistics, investors would do as well to understand the sentiment of their peers as well as the credit fundamentals of their investments.
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It is going to be a bumpy ride for Asia and other commodity-producing economies this year.
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The latest market turmoil could finally persuade emerging market countries to become more proactive in communicating with global financial markets.
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The country’s banking sector has staged a remarkable comeback over the past two years and is well-positioned to support growth and investment. Whether or not that will materialize, however, depends on its politicians.
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The bailout of Parex Banka at the height of the financial crisis helped push Latvia into deep recession. Today, reborn as Citadele and with a global all-star cast of owners, the bank is well on the way to becoming a national asset.
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Qatar Financial Centre always wanted to be different to the other Middle East hubs. But the model was confused. Now it aims to be the engine for the broader transformation of the country’s economy.
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Saudi Aramco is a behemoth: the world’s most valuable company and the lifeblood of the Saudi state and royal family. Bankers and investors have mixed emotions over plans to list it; this could be a huge opportunity, but is it feasible?
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The Basel Committee on Bank Supervision released long-awaited guidance on a new capital regime for market risk in January. It did not, however, solve the mystery of which bank was the outlier in a study of the potential effect of a change in trading risk evaluation.
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The film of The Big Short provides a welcome reminder of the glory days of Morgan Stanley’s fixed income franchise, when Howie Hubler managed to lose $9 billion on botched structured credit tranche trades.
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The January fall in emerging market currencies, the exodus of foreign capital and a global bear market in equities all point to a new financial crisis. How China reacts to this threat holds the key for emerging markets.
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Shareholders should be as worried by modest returns at the American market leader as by outright losses at Deutsche and other struggling European investment banks.
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Investors focus on exposure to oil; banks see no contagion yet.
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Portugal’s central bank had very few options when it decided to bail-in senior bondholders of Novo Banco at the end of last year. The move has dismayed investors and may breach the ECB’s newly introduced bail-in powers. Have years of effort in developing a bank resolution regime already gone up in smoke? And what does it all mean for a deeply shaken market for bank funding?
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The Bank of Portugal’s decision to transfer just five tranches of bonds on December 29 was not made in isolation. Bankers close to the situation in Portugal say two previous situations influenced the central bank’s thinking.
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Distrust in official data coincides with hedge-fund closures, including Nevsky Capital.