October 2005
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LATEST ARTICLES
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Citigroup and HSBC are neck and neck at the pinnacle of the cash management business, according to Euromoney's latest poll. Other firms trail far behind.
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The clubby world of private banking is under threat. The UBS/Julius Baer deal shows how tough it will be for foreign banks to break into the market.
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Chairman Raymond Baer describes Julius Baer's deal as truly transformational. A rising stock price suggests investors agree. Analysts identify the private bank, after the purchase of SBC Wealth Management, as the outstanding restructuring story in European banking. But this deal wasn't what the market expected.
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Private-equity combos turn to ABS market on second biggest ever buyout deal.
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Flotation of the UK fund manager still only one of several strategies being considered.
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Steps along the right path
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There's plenty of capital available to borrowers at attractive prices. But the headline numbers mask the complex dynamics at work.
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"One thing we can say definitively is that we do not have a desire to be a bulge-bracket investment bank. Ours is a more measured approach. We will only grow domestically and internationally where our client base and potential client base leads us."
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But liquidity – as yet limited to indices – has still to take off on single names.
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Distressed companies and their creditors look to advisory boutique to "bring calm to apparent cataclysms".
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Stalled state sell-off is finally yielding impressive results.
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Singapore government investment fund Temasek Holdings completed its long-trailed debut bond in September, raising $1.75 billion in 10-year money. The deal was increased from an original $1 billion amid strong demand for paper that was AAA-rated by Moody's and Standard & Poor's.
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Hurricane Katrina has wreaked havoc in numerous ways but insurance companies appear well positioned to deal with the single largest event in the industry's history.
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People moves:
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US buyout heavyweight opens in Asia
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Dutch law MTN programme enables simpler structure.
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Banks are muscling in on US auto finance as vehicle makers divert capital to manufacturing and marketing.
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After a failed foray into treasuries, Eurex US is now pinning its business development plans on currency futures.
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Covered bond issuers are increasingly clear about the merits of solid execution, as Santander's and DexMa's latest deals show.
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The credit derivatives market has expanded fast in recent months. But the growing backlog of unconfirmed trades has caused concern.
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The asset class is likely to outperform emerging-market debt as more funds enter the market.
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A long-only fund run by traditional asset manager bears little resemblance to the long-only fund run by a hedge fund.
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Legislation is less than two years old but demand for alternative investments seems to be picking up at last.
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World Bank report calls for public-private partnerships to help the region match the pace of Asia's development.
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Wachovia's Ken Thompson wants his firm to be the best financial institution in the US. His ambitions extend to investment banking. As Wachovia makes its move on Wall Street, Kathryn Tully spoke to Thompson and the rest of his management team. Should the traditional bulge bracket be concerned?
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After political shenanigans over alleged election fraud and fiscal worries about the suspension of the expanded VAT, the Philippines finally completed its debt funding requirement for the year with a 10-year $1 billion issue led by Citigroup, Deutsche Bank and UBS.
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Who's buying whom?
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It's pretty unlikely that Hugo Chávez calls too many of his friends "homies" or knows the difference between Grandmaster Flash and Tupac Shakur. But that didn't stop him from being cheered during a visit to the Bronx last month.
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Paying a pop star to perform at your wedding is so underwhelming. At least, this seems to have been the thinking behind 33-year-old Russian billionaire Andrei Melnichenko's decision to employ not one but four during his nuptials to model and former Miss Yugoslavia Aleksandra Kokotovich in Antibes, France, last month.
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At the IMF/WB meetings the great and the good of the international bond markets gathered to sell their wares to sovereign and supranational issuers. These potential clients remain some of the trophy issuers in debt capital markets, but they are not the kings of issuers they once were.